Luca∞

This global bond crash is a slow motion car crash. Most are still in shock—numb. The pain will follow. Consumerism, debt fueled strategies, and government budgets are all evaporating. Soon enough, hard cash and agile attitudes will rule the economic day.

Running bitcoin

our parents had the housing market we have bitcoin one day we’ll be paying a million for one

"If you want to change the world, don't protest. Write code!" - Hal Finney, 1994 cypherpunks write code

Scary

This can only end in three ways: - Devaluation. - Repression. - Stagnation. There is a little chance that the productivity skyrockets, GDP growth accelerates and makes the debt more manageable, not likely. I have no idea when this is going to blow up but it'll, eventually.

Bitcoin should be ripping. But now it’s anchored. Not talking just this week, but sniffing it out for months. This should be a character defining moment. Remember “the chancellor on the brink”. But we abandoned the core cypherpunk principles. We embraced mass tradfi custody. We welcomed the financialization of Bitcoin through paper claims. We cheered corporations hoarding BTC funded by debt. We backed government involvement and adoption, just because it made the number go up faster. We stopped pushing for self-custody and real onchain peer-to-peer use. The Bitcoin that drew me in was defiant. It said no to tradfi, no to government. It was FU money. FU to all dependencies. Reply guy will say “Bitcoin doesn’t care, it’s still that.” But it’s not. Bitcoin is what its community believes and practices. It’s a mindset. Its consensus. That consensus will be needed in the future, as attacks will come. The community will be meek. Tradfi was always going to come. Inevitable, it’s an open protocol. But why support it out of greed. Why encourage it and why adopt it. Bitcoin will eventually rip higher, price will go up, probably a lot. My point is dependency and correlation. The community is selling its soul.

The EU is Nokia in 2007.