“Thoughts without content are empty, intuitions without concepts are blind”
Put differently, only because you imagine it so, it does not make it real.
This is how I felt after a recent conversation I had with someone on Twitter. I won’t reveal any names. According to the Bio that human being is connected to a16z – a well known VC fund, that mostly dabbles in shitcoinlands vast ocean of shitcoins + Web3. And yes, we should tell anyone to stop these shenanigans. Perhaps a new shirt needs to be created: Stop The Shitcoinery!
On the other hand, free markets and sh&%. I believe in them, reality will find its way and bring back the balance. We don’t need another nonsense crypto project 12,221 (randomly chose those numbers.
Conversations over blocking people, conversations over fighting with people online
Many of you would have ended the conversation after reading the bio. Not me though! We need to keep the conversation going with anyone, any topic is fair game. Only through conversation we can understand the point of view, the thoughts (or absence of them) and paint a picture of the world that person lives in.
It is only then, that we can try and find the right arguments to paint a better world, open the door and welcome our discussion partner to join us in that better, more real world.
My apologies for drifting away from the main topic. Why is it important to know and realize that Bitcoin is permissionless?
Well, in a nutshell, my discussion partner claimed that Bitcoin was not democratic, because it is permissioned and not everyone can change the code for instance. The main problem he sees – (a story as old as history), Bitcoin changes too slowly.
Bitcoin does not change too slowly, it changes and adapts precisely when it needs to.
However, let’s quickly dive into the topic of how Bitcoin is permissionless tech:
- Bitcoin is a digital currency that is not backed by any government or central bank (thank the lord).
- Bitcoin transactions are verified by a network of computers and recorded in a public ledger called ‘THE’ blockchain, the mother of all blockchains in that case.
- Bitcoin is permissionless, meaning that anyone can participate in the network and use it to send and receive payments. Yip, anyone, even people you disagree with (Holy guacamole).
- Bitcoin is permissionless because anyone with $100 can participate in validating blocks. Buy the parts and build your own node.
- This makes Bitcoin a very democratic and open system, but it also raises some security concerns. (What could these be?)
- Some people believe that Bitcoin could be used to facilitate criminal activity, such as money laundering or terrorist financing.
- Others argue that Bitcoin’s decentralized nature makes it more secure than traditional currencies, which are often subject to government interference (Well, ain’t that some revolutanary tech, protecting us from government madness).
- Ultimately, the decision of whether or not to use Bitcoin is a personal one. It is important to weigh the risks of not dabbling in Bitcoin (this is not financial advice)
Lastly, I believe there is nothing more important than permissionless technology in a world of ever more censorship and government interference.
The benefits Bitcoin offers are out of question. Regulation will take place, but nothing should stand in the way and completely disrupt the integration of Bitcoin and permissionless innovation for the benefit of society.
Bitcoin is permissionless with regards to everything. The use as well as the participation in it.
To close this spontaneous blog entry: Bitcoin is a controversial topic, but it’s also an important one. So if you’re interested in learning more about it, I encourage you to do your own research, follow me or one of the many Bitcoiner’s on Twitter / Medium / Substack etc.
And who knows, you might just become a Bitcoin Maxi yourself (all ways lead to Bitcoin Maximalism anyways). 😉
Btw, for my next post, I will share how ANYONE can participate in changing the code.
Your humble pleb,