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Protocol Pulse ⚡

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The Amish might be the ultimate Bitcoin UX test. No smartphone. Limited internet. Limited electricity. Yet their whole ethos is basically ours… minimize dependence, own your shit, build within your community, don’t let modern systems run/ruin your life. So serious question: How do we make Bitcoin work for the Amish?

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Seventeen years later, Bitcoin has apparently failed because it became a boring store of value. Read that sentence again. There are fair criticisms of Bitcoin. The UX can still be awful. Self custody can be intimidating. Entropy is a new word that we all know now thanks to Coldcard. But dismissing criticism from a billionaire tech bro because you don’t like the messenger is lazy. Maybe he’s right. So let’s take the argument seriously. So.. dead cat bounce he says.. bring it. Price action isn’t some slam dunk on Bitcoin’s monetary properties. The price can fall without changing the supply cap, without changing its permissionless settlement, or your ability to hold the asset without an intermediary. Pretty useful, regardless of dollar denominated value. And “boring store of value” is supposed to be the gotcha.. cool story. A monetary asset becoming boring and treated as something worth holding is not the own you think it is. It’s about the least embarrassing feature actually. Yeah institutions changed the ethos. We HATE THAT. Us punks got Bloomberg. Some of the Saylor memes should probably be prosecuted. None of that changed the protocol. The CD/DVD analogy is not even clever, it has a hole big enough to drive a cyber truck through. Spotify replaced CDs by doing the same job better. Netflix did the same to DVDs. So show me Bitcoin’s Spotify. Don’t say XRP. It’ll make us lol. Show me the replacement that gives you scarce digital property, bearer ownership, global settlement, no issuer, and no one who can decide on Monday morning that there should suddenly be twice as much of it. Maybe that replacement eventually exists. Nothing gets a permanent crown. That title needs to be earned and defended, constantly. No one knows that better than the Bip-110 crowd. Speaking of … goes to show we’re not all orange koolaid sipping koombaja singing cultist afterall. Yes there will be disagreements. Yes things can get ugly. This is a feature, not a bug. But you can’t call something the CD before anyone has invented Spotify. And calling Bitcoin boring…. For money, boring might be the nicest thing anyone’s said about it. P.S. People keep vinyl for the memories. People are keeping this for their grandkids.

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Bitcoin lore is so stupid lmao April 5, 1933: FDR orders Americans to hand over their gold. 1975: Americans can legally own gold again. Satoshi needs a birthday for his online forum profile. He chooses: April 5, 1975. lol. Then he launches Bitcoin. The first block embeds that day’s newspaper headline: “Chancellor on brink of second bailout for banks” So a timestamp (proving no pre-mine) and a shot at the monetary system. Then you get to the 21 million cap. Except there isn’t. It’s actually 20,999,999.9769. Ok close enough. It’s 50 BTC per block. Every 210,000 blocks, cut it in half. 50 - 25 - 12.5 - 6.25 - 3.125 and so on. Keep doing that until the computer literally rounds the subsidy down to zero. That’s the monetary policy. No committee. Just math. Every 2,016 blocks Bitcoin also checks how fast miners have been finding blocks and recalibrates the difficulty toward its 10 min target. Nobody runs that either. game theory is baked in. miners compete for rewards, difficulty automatically adjusts to their combined hashpower. In English: more miners show up, Bitcoin makes the winning hash harder to find, basically adding even more leading zeros. No founder allocation. No company. No CEO. Satoshi built it, handed it to the world, disappeared. Anyway, the dollar is melting.