ndeet on Nostr: Man some og bitcoiners really sold their soul and simp for the strategic shitcoin ...

Man some og bitcoiners really sold their soul and simp for the strategic shitcoin reserve. Rationalizing that it will become 100% bitcoin allocation magically. As far as I know such funds/portfolios whatever are built on %-allocations. If Bitcoin pumps the allocation will get rebalanced (sold) so the %-allocation is like defined.

But even worse than that is that this legitimizes those shitcoins. It muddies the water and Bitcoin becomes indistinguishable from crypto. When those shitcoins do just fine with gov backing, why even keep PoW? If even the most obvious scams are on the same level / importance than Bitcoin, why does it need to be decentralized at all. Nothing matters.

Sadly it's slay your heroes time again.