It may seem that Bitcoin has not provided significant end-user control or societal value upon initial observation, but its fate is not yet determined.

in #lightning2 months ago

Rather than dismissing it entirely, we should view Bitcoin as a work in progress and strive to improve it. Dismissing it as a failure does a disservice to the cypherpunk movement.

Let us not judge Bitcoin solely based on the lofty goals assigned to it upon its initial release. If we measure the internet using the same metric, it may appear to have failed. However, we cannot deny that it is used daily for instant communication across the world, even if it is mostly through centralized platforms. Similarly, Bitcoin enables instant transactions across the world, even if it is mostly through centralized platforms.

In today's world, it is often more convenient and profitable to create a centralized platform that controls and extracts rent, rather than a decentralized product that prioritizes user protection. However, true user protection can only be achieved when individuals, like the developers of Mastodon, consistently create user-protecting systems that fill gaps and encourage their use. Bitcoin can only protect its users when multiple people, preferably from the same community, develop user-protecting systems on top of it. Over the past few years, various privacy-focused wallets have gained popularity, and lightning was created to enable lower-value instant transactions, which is also gradually gaining acceptance. However, these systems, like Bitcoin itself, are in their early stages and have limited resources. Rather than disregarding their value, we should acknowledge and appreciate them. We can contribute code to these projects and generate new ideas. Remember:

Cypherpunks Write Code.

Fediverse - the social network of the future: It may seem that Bitcoin has not provided significant end-user control or societal value upon initial observation, but its fate is not yet determined.
https://fediverse-decentralize.blogspot.com/2024/02/its-hard-not-to-think-bitcoin-has.html