I am one of those people, and there are many now, that believe that Bitcoin was co opted back in the early days of the block wars. The block size was kept small making Bitcoin too expensive to use for everyday transactions. Blockstream was created to control what did and didn't get through to the code. And lighting is just another creation to make money, which clearly still doesn't work and is far too complex for the average user.
It's clear to see how the narrative has been changed very strongly from a Peer to Peer currency for the people, to a store of value for the wealthy. Yes the guy in the street can buy some, but the fees are so high that there is no real incentive. Of course billionaires can do deals, and fees are nothing to them. Early adopters are also already ahead, so their mantra of "buy the dip" is lost on the average person. If you are still unsure, just try saying anything against Btc on r/bitcoin and you will just get blocked or the post is deleted. Even if it's a legit question/concern.
So what I wonder is this. If - and or when - it comes out that this is the case, will the Bitcoin twitterati echo chamber, laser eye proponents still continue to champion it? Will they add FBI CIA NSA badges to their profiles, and continue to say, "Yes but number go up!" Or will they grow a pair and say hey this is wrong, Roger Ver and others were right? I suspect they won't because it takes a certain mindset to see when you are wrong, and then to admit it.
Personally, once I could see that Btc was no longer Btc - and boy it took me a long long time, like 5 years before I could really see it. Though once seen, it's so obvious that you can't really go back - I started exchanging my Btc for Bch which I am continuing to do. A balanced portfolio is a good idea, but I have been a Btc maxi, so it's not a hard decision. The great thing about waking up to this, is the seeing of so many other great projects that are creating value where Btc completley fails.
You never hear any more on Twitter from the bitcoin fanboys, how Btc is now being used on the street in this or that country. Or how it's being adopted by more and more shops in poor countries. It's all just corporate clap trap the same as it ever was. Celebrities, Corporations and even the Banks are all celebrated as being signs of Btc adoption, and yet couldn't be further from the truth. It is supposed to be about people using the currency for everyday things. Not storing it in a cold storage vault. It's about real economic activity between people with no central authority, using a medium that can't be taken from you.
And finally who wouldn't benefit from that? Who would be the ultimate losers of system like that? That will give you the answer to who has co opted Bitcoin.
No ground breaking thoughts, but I think it needs to be out there as a matter of note, before more people fall into the trap of thinking Btc is the real thing.
