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1658 sats \ 1 reply \ @frostdragon 17 Apr 2023 \ on: I'm losing my faith bitcoin
More. Of. This. Please.
This is the true spirit of the bitcoin community.
We need critical thinking and opposing viewpoints. The echo chamber is real. The blind spots are real.
Guys - bitcoin is going to face off against **The Most Powerful Government / Military In The World ™ **. That’s unprecedented. That’s not going to be pretty.
AND
As bitcoin is adopted, hacking is going to be increasingly incentivized. If everyone has a hot wallet, then a successful hack or phish is an instant irreversible monetary reward. That’s unprecedented. That’s not going to be pretty.
If bitcoin wins, it’s not going to go well for A LOT OF PEOPLE.
There’s serious potential if not certainty for mass social unrest.
It’s possible to be a bitcoin sheep. Don’t be.
That being said, a few quick thoughts:
It’s less important that lightning is non-custodial since you can withdraw to the blockchain almost instantly, and if you deal in small amounts. That being said, it’d be great if non-custodial wallets could implement something like an LNURL. That’d make lightning self custody instantly more scalable. It’s a problem that needs to be solved.
Bitcoin still beats the US Gov in the end, and if it takes 70+ years, I’ll still be proud to have been a part of it.
It comes down to the fact that it’s a finite, scalable, immutable store of value, and the bitcoin network is global. It’s here to stay, which means in the end, it wins.
The 200 WMA says a lot, and so does the hash rate over time.
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