코인톡

The precise reason why bitcoin is in trouble today is exemplified by this post from Sina. People in the Bitcoin Cult don’t know what the word “adoption” means.

At best they have a narrow vision of what adopting bitcoin looks like, and every few months, they have a crazy new fad that they attached to this word, the latest one being “Bitcoin Treasury”.

Even in the context of any of their fanciful adoption narratives, bitcoin’s purpose is not well served by centralisation and the effects of inviting unlimited spam onto the chain of blocks. They don’t seem to understand that no normal person wants to be associated with a system that is explicitly designed to store illegal and immoral files.

Then he comes to the cult list of what the cult should be doing. “Adoption”; a word on its own without definition. “Payment innovation” dropped without definition or description (and leaving out the fact that you can’t pay with bitcoin unless you can get it). “Layer 2s”can’t actually do anything by themselves. It’s just Turtles all the way Down that in themselves cannot trigger the undefined “Adoption”. Layer 2s are a means to an end not an end in themselves and adding more L2s can’t help bitcoin adoption when the word “adoption” is properly defined.

In fact, multiple incompatible L2s on top of bitcoin don’t make bitcoin more interoperable; they fracture the bitcoin ecosystem, which is completely contrary to the money use case. MultiL2 thinking is altcoinism with another face.

And of course, now the newest fad is “Agentic Economy”, which is not defined in any way, and even if it were to be defined the only reason why it would make sense in relation to bitcoin is if these agents were free agents and not constrained by a centralised Ethereum like infrastructure that’s under the control of the state and it’s useful idiot weirdos. And you still have the problem of getting Bitcoin into the hands of agents.

Are your agents going to be KYC’d at an exchange? Do you really want all your agents activities to be an open book for strangers? Are you responsible for the spending of your rogue agent or is the exchange? Just a few of the questions thinkers with puddle depth capabilities can’t ask.

Smart contracts and vaults are more bitcoin cult drivel. All business logic should be done outside of bitcoin in your private infrastructure not on someone else’s machines; vaults are a business service people should build for themselves. It’s like claiming Apache Web Server should store your image files for you, “bcuz website is the web, duhhhhhh”.

No, file storage is a function that’s separate from the web server function that Apache does; you use the operating system to manage and store files for you.

All the functions in serving services on the web are handled by different servers, and there are many of them all doing very small well defined tasks.

The web is an exceptionally appropriate example of this; millions of people are accessing Claude, ChatGPT, and Gab on interfaces served by Apache.

No one who knows what they’re talking about believes that any of these services needs to be built into Apache, and yet these same people believe, somehow, that bitcoin must be the load bearing software that carries every possible idea from every single person who has an idea on its back.

It’s literally insane.

Luke is right of course; bitcoin needs to be cleansed of these computer illiterates and carpet baggers who don’t know anything about Internet architecture.

Once they’re driven out, it will be like putting stupid cows through squeeze chutes, forcing them to “innovate“ in the appropriate places because it is now impossible for them to come to bitcoin and contaminate it.

Git Along, L’il Doggies!