It is a glorious thing to stand up for money without usury as a node runner and watch the miners comply and implement DATUM.
There is hope for Bitcoin yet.
XBT is Bitcoin.
BITO, the first bitcoin futures ETF, started trading on the NYSE in October 2021. Since then we’ve seen the worst 5-year performance in history. There are not enough cows on earth to produce the amount of bullshit required to say “Wall Street is good for bitcoin”
We node runners did not fire the miners to change the logo or swap one mining algorithm for another. We fired them to preserve Bitcoin as sovereign money. Money that no state, corporation, miner, pool operator, or other powerful interest gets to rule through capital or coercion.
Bitcoin’s rules are chosen by the people willing to run them, and we are free to change those rules when the incentives begin working against Bitcoin’s monetary purpose.
And we just proved it again. When opportunistic SV1 hashrate concentrated behind one pool, we extended coinbase maturity rather than accept hashrate dominance as sovereignty.
Hashrate may leave.
Capital may leave.
Miners may leave.
But the money stays.
So bring the hashrate. Bring the capital. Bring whatever economic leverage you think gives you control on our network.
It does not.
If your behavior threatens the purpose of the money, the rules will change beneath you.
Your hashrate is temporary.
The money is not.
The elephant in the room is that bitcoin corechain has allowed five miners centralize the mining industry.
The bip-110 crowd broke up the monopoly. Now the market can decide what #bitcoin is
#xbt#separatemoneyandstate#debasement