Thread - Nostr Hypermedia

Altcoins are literally the consequence of this kind of attitude. Tether started as a Bitcoin project. If this kind of attitude had not been propagated by Core, Bitcoin could be collecting all those fees. Now Tether has over double Bitcoin’s daily volume! Most days, on TRON alone, Tether exceeds Bitcoin’s daily volume. Fucking TRON! Bitcoin’s ossification saw *every single real world application of blockchains* flee to other, more useful chains. Back when I considered myself a hedged Bitcoin maxi, I thought the idea of Bitcoin maximalism was that all these altcoins were going to be demos of useful blockchain features which were eventually going to be Bitcoin sidechains. Now Bitcoin’s only utility is speculative (which is less fun than Solana memecoins) or convincing pension funds and useful idiots to buy Bitcoin treasuries and ETFs.

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Luke lukep@nostrplebs.com 1 week ago

Altcoins have been around since 2013. I played with quite a few that year. When Ethereum launched, I was an insider in the right place at the right time, who could be sitting on $Billion$ right now if I didn't have my "high & mighty" bitcoin maximalist attitude. I'm not sorry. That attitude exists, in all of the old school bitcoiners, to do exactly one thing: To protect bitcoin's censorship resistance. Something no altcoin or stablecoin will ever have. It served us very, very well during the blocksize war. Just because you don't value censorship resistance (which is, let's face it, the only thing that keeps governments from stopping a competitor) doesn't mean bitcoiners don't. We're still laser focused on that task. Calling bitcoin's utility "Speculative" makes you look like a state-loving bootlicker.

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