Seth Michael Steele

Seth Michael Steele's avatar
Seth Michael Steele
S_michaelsteele@BitcoinNostr.com
npub14evv...lrc7
We must live together as brothers or perish together as fools #Bitcoin
Range bound Bitcoin is my favorite Bitcoin. It tests conviction more than violent pumps or crashes because nothing happens and people get restless. That boredom does more damage to sentiment than fear ever could. While that plays out wallets holding 100 plus bitcoin are quietly hitting all time highs. They don’t need perfect narratives or macro clarity. Their behavior alone reduces sell pressure, and if it continues, the math compounds whether anyone is paying attention or not. Ignore the macro limbo. Strength is being built in silence, not headlines. Every time Bitcoin becomes sensitive to noise, it’s an invitation. Not to react, but to accumulate. image
It’s about laying a stronger base for the next leg. Sometimes down is what makes up possible and this feels like one of those moments. It could be better. It could be worse. I’m still impressed. Bitcoin’s fate isn’t tied to institutions or narratives, but to humanity itself. I’m comfortable tying my own fate to that. Sentiment comes and goes. Engagement might be dookie butt. Quitting still doesn’t feel like an option. image
Absorption always has been and likely will be stronger than sell pressure in the long run. It seems absorption is being set up to be even greater, following a typical trend, but I’d rather celebrate the actual purchase than the potential purchase: it’s proof of work for a reason; proof of potential work would be a completely different story. Down years are luckier than up years, if you have experienced any. I’ll jinx it just to separate the weak from durable: bitcoin has never had consecutive negative years. Sentiment is only wack for those who forgot 1 btc = 1 btc. When I smell weak handed despair in the air it makes my tummy tickle. Bitcoin priced in fiat is always a discount: I call it productivity fuel. image
I don’t think any specific sequence of events needs to unfold for Bitcoin to succeed. Its creation was the success, and it’s been succeeding ever since. What people call catalysts don’t decide if Bitcoin wins…only how fast bitcoinization accelerates. Bitcoin doesn’t belong to a political party. It belongs to those who hold it, and better money is something everyone can benefit from. I’ve accepted my fate as a permanent accumulator of sats. It’s no bad fate at all. image
Today is Bitcoin’s birthday. 17 years since the genesis block, and the network continues to tick tock. In that short span, it has lived through more government bailouts than it has years of existence, each one reinforcing the problem it was created to solve. From zero to trillions in value, Bitcoin is still young. Watch it claim its place, first by securing its own foundation, then by absorbing every monetary premium built on weaker ground. image
Bitcoin is a rabbit hole of sheer truth, even the noise. Your wallet and value are not the only beneficiaries, your health and quality/appreciation of life will swell as well. Your brain gets rewired but in a healthy way in my experience. Bitcoin fixing money is the first half of the equation, but that’s only because more than just money is broken. image
Bitcoin: a decentralized digital monetary system and programmable base layer. Onchain micropayments are expensive so Lightning and other layers fulfill the cash utility. The importance of a conservative base layer has been recognized, scaling has been outsourced off chain. Segregated Witness and Taproot soft forks increased security, privacy, and functionality. With functionality comes use cases and controversy over proper use of block space. Mining has centralized into professional operations; without a specialized computer you stand little chance of success and even with a whole fleet the odds are stacked against you. As the block reward keeps halving bitcoin is transitioning toward fee based security. 17 years of bitcoin transactions still fit on less than 1 terabyte. Chain analysis and privacy tools have symbiotically fueled each other’s advances. Bitcoin evolves slow and reacts quickly controversy is a feature not a bug. Consensus comes after deliberate discussion. Bitcoin still shares so much with its visionary proposal, but now it holds historical proof. What did it become? More. In the doldrums of doomer sentiment I remain with hint of quiet triumph. The dream hasn’t failed; it’s hardening into reality. If the white paper was a seed then we’ve only glimpsed the sapling of the tree it will become; change is uncomfortable, but it turns out how it’s always meant to be. image