Bitcoin is fundamentally unlike its successors: token speculation, wealth transfer via stablecoin, and prediction markets. It rewards patience and a deep understanding of the structural flaws of the late-stage fiat economy.
At the same time, bitcoin had its part in begetting all these aberrations. Yes, they are fiat insanity, but remain fundamentally linked to bitcoin, the first cryptocurrency. People like to blame ETH for the proliferation of altcoins, but bitcoin is the grand-daddy of them all.
Jesus says in Luke 6, "For a good tree does not bear bad fruit, nor does a bad tree bear good fruit. For every tree is known by its own fruit. For men do not gather figs from thorns, nor do they gather grapes from a bramble bush."
Jesus is not committing the genetic fallacy (which is discrediting the effects based on an assessment of the source). He is identifying that actions have consequences. Could it be that the "sovereign" individuality enabled by bitcoin opened the door to speculative individuality?
These thoughts sponsored in part by https://www.stephendiehl.com/posts/bad_place_2026/
hodlbod
npub1jl…jynqn
2026-06-23 13:59:12 UTC
Author Public Key
npub1jlrs53pkdfjnts29kveljul2sm0actt6n8dxrrzqcersttvcuv3qdjynqnSeen on
wss://relay.damus.ioPublished at
2026-06-23 13:59:12 UTCEvent JSON
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"content": "Bitcoin is fundamentally unlike its successors: token speculation, wealth transfer via stablecoin, and prediction markets. It rewards patience and a deep understanding of the structural flaws of the late-stage fiat economy.\n\nAt the same time, bitcoin had its part in begetting all these aberrations. Yes, they are fiat insanity, but remain fundamentally linked to bitcoin, the first cryptocurrency. People like to blame ETH for the proliferation of altcoins, but bitcoin is the grand-daddy of them all.\n\nJesus says in Luke 6, \"For a good tree does not bear bad fruit, nor does a bad tree bear good fruit. For every tree is known by its own fruit. For men do not gather figs from thorns, nor do they gather grapes from a bramble bush.\"\n\nJesus is not committing the genetic fallacy (which is discrediting the effects based on an assessment of the source). He is identifying that actions have consequences. Could it be that the \"sovereign\" individuality enabled by bitcoin opened the door to speculative individuality?\n\nThese thoughts sponsored in part by https://www.stephendiehl.com/posts/bad_place_2026/",
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