mulecolt on Nostr: Most here probably want there to only be bitcoin. But of course that’s not the case ...

Most here probably want there to only be bitcoin. But of course that’s not the case - there are a lot of other things. Governments can either: 1) ban those things, 2) ignore them, 3) define them and figure out how they fit into our existing world.

Not a fan of government bans.

They’ve been ignoring them resulting in things like FTX, which continues to be what most regular folks think bitcoin is - like it or not.

So you define them, dole them out to the regulators, and go from there.

This gets bitcoin where it needs to be with commodity regulators, helps people understand why bitcoin is different than all of the other crap, and hopefully clears the way for those building on bitcoin to do so with less friction.

I know everyone has a utopian fantasy of a bitcoin only world where governments and shitcoins don’t exist. But that’s not our world.

I think he’s taking a pragmatic approach to building bridges between the fiat system and the bitcoin system.

If you believe in bitcoin, then you should have confidence that the fiat system will be absorbed into the bitcoin system and not the other way around.