Binance – Bitcoin Global Canada (BGC)

Understanding Fundamental Effects on Price

Another really huge issue with the btc community in general, and this reddit especially, is the lack of nuance on price. And again, an unwillingness to accept critique.
There are several scenario that can play out with price, but in some of those scenario, we may even see a huge price pump, while *still failing at adoption*. And I think that's an important distinction to make. Just because wallstreet pumps the price for reasons that only concern the rich and institutions, does not equate to adoption. It does not equate to us making vital changes for the betterment of the network and adoption. It just doesn't.

Wallstreet is perfectly content with hyper regulated bitcoin that is totally irrelevant for the common man and unadopted and unused, they are perfectly fine treating bitcoin as a glorified sovereign bond and international form of settlement. That is how the institutions and rich see it. They see it much like they see bonds and gold, and are willing to treat it as such. This is even a positive in some regard because it brings monetary transparency into the banking and wealth sector.

But it does not address cypherpunk, emancipatory politics, or global poverty, or individual sovereignty. And it is acheived largely through extreme centralization and hyper invasive surveillance. Be clear, they can pump the price to 250,000 while still controlling everything through Patriot Act, AMLD5, NDAA, and FACTA and the banking secrecy Act. All of which Bitcoin is entirely ideologically incompatible with. But that's just fine, because the rich already comply with those laws (mostly). They already price in the regulatory and compliance costs of an institution, of an offshore tax haven.

That's just it. IT's fine for them to do this to btc, because the laws are designed for them. They create the barriers only they can afford to play in, while hurting it for everyone else.

The average common man in the world, and any developing country should be able to easily acquire btc without kyc. Period. It shouldn't be a surveillance state. I recently listened to Peter McCormack interview a darkmarket guy and I completely agree. We need to engineer away from on ramps, we need to engineer away from payment gates that involve fiat, and we need to all use coinjoiners and mixing technology. It needs to be the standard. There are so many reasons to use coinjoining for non illegality. Privacy is a fundamental need.

And internet 4.0 for finance is contingent on a lot of technology. These aren't really coins either. It is backbone technology to better facilitate bitcoin. But we have to have layer two solutions. It doesn't matter whether it's RSK or plasma, or both, we just need the secondary layer to pay for distributed processing, server function, matching, liquidity, file storage, atomic swaps, network gas, etc. DeFi network value cannot be conflated with the supply and demand of btc itself, we don't need permissioned side chains, we need permissionless open source side chains and interoperatibilty platforms that will protect the privacy of bitcoin and facilitate it on decentralized exchanges. On exchanges that cannot be taken down. To do that we need staggering amounts of technology innovation and thoroughput, that will require people to host nodes, mine and stake these ancillary services to protect the backbone of bitcoin commerce.

Anyone who is into toxic maximalism. Let it be known that you are willfully promoting corporate bitcoin supported by massive centralized players who will treat it as a bond or settlement statist instrument. You're promoting the support of bitcoin on an entirely captured regulatory framework and an entirely captured unsafe unsecure regular internet controlled by the clearnet and amazon and google and heavily surveiled. .Org just privatize for fuck sakes. And any DNS can be compromised, any .com site can be siezed. This normal backbone is entirely inappropriate for bitcoin. Centralized exchanges and payment apps like cash app are entirely inappropriate for bitcoin.

You should be able to visit a IFPS site, connect a hardware wallet to any DEX or DAPP and immediately trade with the same speed and liquidity of binance and bitmex. The user interface should be simple and approachable to the layman. We need a liquidity interbank controlled by SPV server and dark node. Payment incentives for people to host liquidity to the network on plasma, radon, cosmos, uniswap, eventually all the DEX will simply be connected by interchain liquidity.

Crypto has to be extremely unfettered. The regulators and wallstreet have strangled it and will continue to do so. Some people have forgotten that this is a battle for financial sovereignty and protection against wealth confiscation. Only when they realize that they can't control us, will they be forced to sit down at the legislative table and negotiate with common people. You have to bring your government to heel.
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