Post B7yMWMkVSMZnc1iSae by xianc78@gameliberty.club
 (DIR) More posts by xianc78@gameliberty.club
 (DIR) Post #B7yM1wbm5Cxnqn7r8a by gabriel@mstdn.starnix.network
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       BTC broke below 60K USD.This is literally the end of cryptocurrency forever. It was fun while it lasted I guess 🤷
       
 (DIR) Post #B7yM1x0aawoT5kjfoe by gabriel@mstdn.starnix.network
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       Sarcasm aside I wish I had a link to it or could quote it but a while back I posted when it was hovering ~100K that this was probably the last "hype cycle".If you're just in it for the VC funding, AI has already eaten your lunch. If you're in it for the technology you've probably moved on to more interesting things. Who is a diehard BTC fan in 2026? Are we down to Saylor and his cult members?
       
 (DIR) Post #B7yM1xL9MVGA7WM5rc by silverpill@mitra.social
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       @gabriel>Who is a diehard BTC fan in 2026?The entirety of Nostr 😆>that this was probably the last "hype cycle".I disagreed with that, and I still don't think that it was the last hype cycle. Grey/black markets, tax evasion, sanction evasion - none of this is going to disappear.
       
 (DIR) Post #B7yM1xZKVmbOpUzPxw by gabriel@mstdn.starnix.network
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       @silverpill Grey/black markets, tax evasion, sanction evasion - none of this is going to disappear.Isn't Monero (and other mechanisms) objectively better for all those things though?  But that's somewhat part of my calculus there. I think Bitcoin's cycles were entirely driven in a top-down way and that the entire financial side of the space was manipulated. I assume it began for political reasons and will end for political reasons as well.For example some people believe cryptocurrency as a whole was a psyop to distract people from owning PMs and/or normalize digital currenecy. I don't fully buy into either thesis but don't fully dismiss them either.What little I do understand leads me to believe that whatever the machinations are, they're much more convoluted than just "Bitcoin was made for X"
       
 (DIR) Post #B7yM1xljleWjRynKIy by xianc78@gameliberty.club
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       @gabriel @silverpill >or normalize digital currenecyI never understood this sentiment because I never hear anyone claiming that Bitcoin (or any other cryptocurrency) should replace cash. I always saw cryptocurrencies as a decentralized alternative to payment processors like PayPal and nothing more. That's what got me excited about it when I first heard about it back in 2013-2014. I always felt that we need a way to make decentralized payments over the Internet for things like donating to FOSS projects, renting VPSes, etc. You can't really do that with cash or barter, but that doesn't mean that digital currencies should replace those things.
       
 (DIR) Post #B7yMWMkVSMZnc1iSae by xianc78@gameliberty.club
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       @gabriel @silverpill Well even then, you still need some sort of way to make digital payments for the purposes I've mentioned. Some people would rather use it in a decentralized and (somewhat) anonymous manner.