Something has basically changed in this ecosystem. A great change in the main ethics of things. Regardless of what you think of politics in the largest world, Bitcoin itself as a network and a protocol was something explicitly designed to work in a hostile environment, in an environment in which politics and governments are actively antagonists towards him.
The proposal for the fundamental value of Bitcoin itself is that, as a system, it can continue to work despite this antagonism in a hostile environment. It can be a base to rely on it, with everything that has been built on it by inheriting that resilience to a certain extent in the face of a well -equipped antagonist.
It seems that faith in that proposal of fundamental value has almost completely evaporated in this ecosystem. The determination of relying on that foundation and protecting its solidity at all costs, seems to have evaporated. In his place we now have cheerleader politicians, in favor of trade for a selectively beneficial regulation and the short -term financial profit priority on the conservation of what makes Bitcoin precious in the first place.
People are less interested in the creeping network of business relationships in the mining ecosystem, which is the foundation of the foundations of opening and resistance to the censorship of Bitcoin and more interested in the fact that President Trump will do so As soon as Pump our bags or also pump the shit bags.
We count our chickens before they match.
Bitcoin has problems relating to mining centralization and that part of the vulnerability of the ecosystem to the regulatory attacks and the mandates of governments that could put people’s ability to use the network without fear of censorship openly at risk. It has problems in terms of scalability and the ability to support enough users who use the self-cutting network to actually be a practicable means of protests and renounce a fairly wide scale to import to governments. The custodians who otherwise have to use are equally vulnerable as miners are becoming. It also has a serious privacy problem, which opens users themselves to regulatory pressure by forcing them to self -censorship.
Bitcoin has all these problems and rather than focusing on the resolution so that Bitcoin can remain the resilient system that made it precious in the first placePeople are more interested in the political favor with the current presidential administration of the United States for the political victories of token and the short -term financial gain at the cost of the main concessions that could very seriously damage the Bitcoin Foundation.
So where did we make a wrong turn? And frankly, what the fuck is there wrong in everyone?
This article is a Take. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.