2014 hype-cycle's scam-narrative:
1000 alternative non-Bitcoin uses for "the blockchain"
2017 hype-cycle's scam-narrative:
1000 alternative Bitcoin-like "blockchains" with the same use
2021 hype-cycle's scam-narrative:
Bitcoin as SoV and 1000 "tokens" on top of a couple of other "blockchains" for "defi", "stablecoin" and "NFT" uses
2025 hype-cycle's scam-narrative:
Bitcoin as SoV&MoE and 1000 "L2s" on top of Bitcoin's "blockchain" to improve that use
2029 hype-cycle's realization:
Maybe we should have just stacked sats all along?
source: https://xcancel.com/giacomozucco/status/1834211165292924970
Why people like him use twitter and are not active on nostr?
Nostr is new. People are busy. In general this is the main reason anyone is on Twitter but not on something new.
if you like or not an individual because is using twatter or nostr and not about what is saying, then your mind is lost...
I like him regardless, it's just that as we observe in brazil building a profile on twitter is like a house in the sand. On nostr like a house over the stone.
Or on SN?!!
It's because of the network effect, where you will reach more audiences. I prefer nostr; but most people don't think that way.
I get the critique of "1000 L2's", but are you implying that there's no need for any?
yes. bold yes.
Bitcoin onchain is the vault, final settlement, the central bank.
Bitcoin LN is The Payment Network.
That's all.
Gotcha. That's what I thought your position was.
I'm still learning about the functioning of the LN, but you think it will overcome its existing shortcomings, rather than be replaced by something else?
have patience... LN is just a baby... barely can start walking on his feet....
LN will never be "replaced", but yes maybe other things will be built on top of it and will use it (eg ecash cashu).
Bitcoin itself CANNOT work without LN and LN cannot work without a strong base Bitcoin code at L1.
All the rest is just a distraction... Giacomo is 1000% right.
Always remember my memes, I post them for a reason, and I always have a reason.
The problem is neither bitcoin nor LN. Most people and business do not think in terms of decentralization. The fiat way of thinking is centralization. But, as I understand, at individual level, you can't change bitcoin. It changes you, inside out. And, most people aren't willing to go through this transformation.
Giacomo is so good. Never seen a bad take from him.
I think l saw something on reddit that was similar.
Goes to show hindsight is 20/20.