When Did People Stop Caring About the Promise of Bitcoin?
A quick look at what the conversation used to be about
Someone recently shared this Bitcoin Magazine article with me from early 2016.
I can’t remember the last time I heard anyone in the BTC world talk about anything remotely as interesting as this, let alone put forth effort to try to create it.
Is it really as simple as: price went up —> protocol was deliberately broken to force people into third-party products —> everyone accepted the narrative because they were getting rich —> all memory of groundbreaking functions was lost?
Whatever the case, it’s a bit heartbreaking to feel like a voice in the wilderness, shouting, “Hey, sub-cent payments tied to on-chain data is a really big effing deal and we can build some amazing stuff around it!”
As the bear market wears on, I have begun to notice more people slowly probing for something more than a new speculative asset out of the world of crypto. I have seen signs of increased dabbling, from both builders and users of micro and nanopayments apps.
So far, the only place this nascent community is really doing anything is on BSV, which adds to the bizarre nature of this entire thing.
It is in many ways a silly community with exceedingly silly major players. Yet both the protocol and a the people who predominantly use it are just about the only ones in this space serious about tiny payments on a large scale.
I don’t know whether because of this BSV will start to get less absurd and become more of a force in the world, or whether other communities and protocols will start paying attention to tiny payments and take the mantle.
It’s hard to imagine tiny payments not becoming a big deal in the next decade one way or another. Don’t be distracted by the fact that the majority of crypto people are ignoring them and only the crazies are playing with it.