It already exists - LNMarkets I tend to separate the two: 1) how bitcoin can be used by any person (i.e., however they want), and 2) the structural battle that will necessarily happen between debt-based fiat and energy/equity-based bitcoin, due to their very properties. The debt must expand, and that means it must attack bitcoin down the line due to the fundamental incompatibility that Jeff talks about. Along the way, bitcoin can be used by anyone however they want (agreed with Jack). It truly does not matter what Satoshi intended. But it’s also true that there will come a time when those using it to mine fiat or in a way that serves the centralized fiat mechanisms (like Jack or Saylor) will be forced to choose between the freedom protocol taking over and the debt tokens going to zero. Some of us have chosen to align with the inevitable and build in the new world, while others are building the bridge that must eventually burn but helps people get across in the meantime. Both are necessary.

It already exists - LNMarkets I tend to separate the two: 1) how bitcoin can be used by any person (i.e., however they want), and 2) the structural battle that will necessarily happen between debt-based fiat and energy/equity-based bitcoin, due to their very properties. The debt must expand, and that means it must attack bitcoin down the line due to the fundamental incompatibility that Jeff talks about. Along the way, bitcoin can be used by anyone however they want (agreed with Jack). It truly does not matter what Satoshi intended. But it’s also true that there will come a time when those using it to mine fiat or in a way that serves the centralized fiat mechanisms (like Jack or Saylor) will be forced to choose between the freedom protocol taking over and the debt tokens going to zero. Some of us have chosen to align with the inevitable and build in the new world, while others are building the bridge that must eventually burn but helps people get across in the meantime. Both are necessary.

Thanks for the comment. Here’s my reply: Jack is confused about two things: First of all, nobody is trying to take away people’s freedom to use Bitcoin the way they want to. The same way as when Bitcoiners are urging no-coiners to buy Bitcoin, they do not want to force them to buy Bitcoin or to make it illegal to be a no-coiner. They are simply recommending people to buy Bitcoin, self-custody Bitcoin, and study Bitcoin. Regarding Jack’s comment about it not mattering what Satoshi intended, Jack is kind of right about it. In the same way we could say that it does not matter what The Wright brothers invented the airplane for. If somebody wants to use an airplane as a chicken coop, it’s their right. Who am I to say to say how an airplane *should* be used. I am just saying that if airplanes are not used for flying and Bitcoin for peer-to-peer money transactions, they are useless. But if somebody wants to disagree, they are free to do it. I preach for freedom, but I recommend against doing stupid things. There is no contrast there. If somebody preaches for freedom and fights against the fiat system but aligns his actions to support the tyrannical fiat system, there is a contrast right there. This is the way I see this playing out: There will be a state accepted, permissioned and KYC’d version of digital cash. Mike and Jack will support that. And then there is Bitcoin (with all the privacy tools etc.), and Bitcoiners will support that. However, I want to choose my words carefully here: I think that the fiat system can put an incredible amount of pressure on different individuals – the kind of pressure that would break most of us if not all of us. Just by looking at some of the new players in the Bitcoin space it’s easy to see that they are not ‘traditional businessmen’. So, who the hell knows what is going on behind the scenes. Regarding stocks etc., let’s see how it’s going to play out. We need to make sure that Bitcoin as freedom money wins. The rest will follow.