I listened live today as Bitcoin was made official legal tender in El Salvador, a world first.
You know what struck me? How stupid and normal everyone is. Even, and especially, the politicians. Except they have the narcissistic charm to dupe Twitter blue checks fawning over them.
The Bitcoin whitepaper describes peer-to-peer transactions that do not require a financial institution. Now we have legions of cheerleaders for the institutionalization of this asset that was created for the anarchist.
Power is not so mysterious. All its amassment requires is blind worship of an idol.
I am excited to see BTC gain recognition because the concept of permissionless money is truly amazing. But I am moreso repulsed that these automatons still do not get it.
Mass adoption is always possible. You don’t need a state. You don’t need a mega-corp. Mere “number-go-up” frat bro talk is boring to me.
I like the rebel Bitcoin Cash. I can still buy a coffee with it on-chain. No state adoption required.
It would be great to be able to pay for food, rent, public transit, healthcare, etc. in Bitcoin. However, if the state would require KYC for mainstream Bitcoin transactions, it would make Bitcoin just as inaccessible, surveilled and gatekept as the banking system, especially for people who don't have government ID or can't show ID for safety or privacy reasons. I don't know whether mainstream Bitcoin acceptance in El Salvador would require a centralized exchange, a specific KYC wallet, or if holding your own keys and transacting without state permission would also be possible. Hopefully people in El Salvador would be able to use any Bitcoin wallet and keep the permissionless and liberatory benefits of crypto while enjoying mass adoption.