Bitcoin grows stronger with each block; ignore price for the time being

Inertia is Bitcoin’s greatest ally. The longer Bitcoin has been around, the more likely it is to stay around. It’s a virtuous cycle unique to Bitcoin.

The reason is not technical. It’s economic and psychological. The Bitcoin system makes sense. Millions of people see its massive utility. They understand that Bitcoin is a very elegant solution – they have no reason to ever abandon it.

Even in a nuclear apocalypse scenario, assuming just a few nodes survived, Bitcoin would likely be rejuvenated. It would become a link to the past that people would want to maintain. That’s how sticky it is.

Every day Bitcoin remains online is good for Bitcoin. Remember that.

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  1. Literally just finished commenting this same thing in the stagnation thread. Nothing else matters but the next block which we can all be absolutely sure is coming. Nothing in human existence has that kind of reliability. A true automaton.

    Imagine if from this day nothing else happened. No podcasts, conferences, git commits, no new wallets or apps.

    Then one day around February 2027 Bitcoin hits block 1 million. No one is going to notice that? It will be a huge deal just on its own with nothing else. Wow no one did anything to this technology for 4 years and it just found the millionth block. It’s permanent human insurance that this thing will keep on ticking no matter what.

  2. Bitcoin is currently priced like a financial asset. It has stalled out because:

    1) FTX caused massive reputational damage among the general public and investment community

    2) the treasury was able to stop a full blown banking crisis after SVB (the regionals are still failing, but it’s not in the news and nothing systemic has happened yet).

    3) the fed continues to raise rates.

    4) the blackrock etf was rejected / delayed.

    Until the news cycle turns in bitcoins favor, the price is going to keep dropping. And it will keep going lower until:

    1) The etf’s are approved

    2) the fed pivots and starts lowering rates

    Then, it’s off to the races.

Who’s with me?

Who’s with me?


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