Baal-Berith

The BTC crowd performs intellectual contortions that would embarrass a circus acrobat with a spinal disorder. They preach “hyperbitcoinization” while simultaneously defending a system that processes roughly four to seven transactions per second on-chain. Four to seven. Visa yawns harder than that during a coffee break. Do the arithmetic. Not the cult arithmetic. Real arithmetic. Eight billion people do not fit through a drinking straw. So what happens? The same thing that always happens when ideology collides with engineering reality. Intermediaries emerge. Custodians emerge. Trusted third parties emerge. Layer upon layer of institutions emerge, all wrapped in the marketing perfume of “freedom.” Square. Exchanges. Custodial wallets. Payment processors. ETF structures. Off-chain settlement systems. IOUs stacked atop IOUs like a drunken banker’s Jenga tower. And then these same people, with faces as solemn as medieval priests fingering relics, proclaim they have eliminated trust. Eliminated trust? They have outsourced it. The tragedy is not merely that they are wrong. Everyone is wrong occasionally. The tragedy is that they cannot follow their own premises to their logical conclusion because doing so would detonate the mythology that sustains them. A constrained ledger cannot support global peer-to-peer cash usage directly. It mathematically cannot. Once capacity is artificially throttled, economic pressure forces activity away from the ledger and into institutionalized aggregation systems. At that moment, the architecture ceases to function as electronic cash and begins functioning as a settlement toy for intermediaries. Which leads to the delicious irony. The same people screaming about banks are rebuilding banking. Not accidentally. Necessarily. If ordinary users cannot transact directly at scale, then balances must be pooled. If balances are pooled, operators control liquidity. If operators control liquidity, they issue claims against reserves. And the moment claims circulate more frequently than final settlement, congratulations: you have recreated fractional reserve finance wearing a hoodie and posting laser-eye memes. It is the old system with worse throughput and more self-righteousness. The BTC faithful speak about “trustlessness” the way medieval alchemists spoke about turning lead into gold. With enormous conviction, elaborate jargon, and absolutely no industrial process capable of achieving the promised result. Reality is vulgar in that way. It refuses to care about slogans. Physics does not care about podcasts. Bandwidth does not care about ideology. Throughput does not care about Twitter threads. And mathematics, unlike a cult member, does not applaud on command.

Hitler was a socialist, therefore all socialists are Hitler

“America needs a revival” Charlie Kirk brought out the best in us 🙏🏼