This process of the controllers capturing UTxOs within their organizations was an inevitable consequence of Bitcoin succeeding.
We can observe it & call it out but we can't stop it. Bitcoin is at its core, permissionless. It's a system available for anyone to enter or exit at any time. We can't stop malevolent people from acquiring it or benign people from selling it.
At some point it becomes exceedingly hard to capture more UTxOs through non violent means. The remaining bitcoiners simply to do sell many more sats. This is when it gets really risky to be the sole controller of UTxOs.
I don't know how far away we are from this point. Bitcoin's price needs to ascend dramatically before they reach that conclusion. There's also a lot of interesting incentives that arise from getting there that make outcomes quite uncertain & unpredictable. What never disappears is the ability to buy your steak & eggs from another human with bitcoin (even if 19M coins eventually get removed from circulation).
My hope is that in this process of bitcoin's monetization & attempted capture, individual bitcoiners become resilient producers. That instead of trying to convince more farmers & producers to accept bitcoin, we just start producing the goods ourselves. I think that this is also inevitable & is already happening, it's the degree to which it occurs locally, that is uncertain.
Fighting the capture of UTxOs is ineffective because there is no centralised coordination among Bitcoiners. We can create decentralised custody & lending solutions but the centralised solutions will always be more convenient & easy. I will be focusing my time, attention & purchasing power on food production & building resilience. It is the fire that's been quietly burning within me my whole life, my purpose.
Bitcoin isn't the biggest threat to the controllers & as individuals they personally benefit from its empowering properties. At the end of the day, an organisation/country can't sign a transaction or control a UTxO, it requires individual humans. I have faith in individual humans acting in their own self interest & discovering/remembering their own innate power. It seems like we have the odds attacked against us but enslaving humanity has never succeeded at scale, for long. Nature abhors imbalance.
Brisket
npub1jm…p6xcq
2026-03-31 20:50:11 UTC
in reply to nevent1q…g8sw
Author Public Key
npub1jmy8weweqzckna0amz7pn0uhhkxx693l7st23829ewmu43yvjsesfp6xcqPublished at
2026-03-31 20:50:11 UTCEvent JSON
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"content": "This process of the controllers capturing UTxOs within their organizations was an inevitable consequence of Bitcoin succeeding.\n\nWe can observe it \u0026 call it out but we can't stop it. Bitcoin is at its core, permissionless. It's a system available for anyone to enter or exit at any time. We can't stop malevolent people from acquiring it or benign people from selling it.\n\nAt some point it becomes exceedingly hard to capture more UTxOs through non violent means. The remaining bitcoiners simply to do sell many more sats. This is when it gets really risky to be the sole controller of UTxOs.\n\nI don't know how far away we are from this point. Bitcoin's price needs to ascend dramatically before they reach that conclusion. There's also a lot of interesting incentives that arise from getting there that make outcomes quite uncertain \u0026 unpredictable. What never disappears is the ability to buy your steak \u0026 eggs from another human with bitcoin (even if 19M coins eventually get removed from circulation).\n\nMy hope is that in this process of bitcoin's monetization \u0026 attempted capture, individual bitcoiners become resilient producers. That instead of trying to convince more farmers \u0026 producers to accept bitcoin, we just start producing the goods ourselves. I think that this is also inevitable \u0026 is already happening, it's the degree to which it occurs locally, that is uncertain.\n\nFighting the capture of UTxOs is ineffective because there is no centralised coordination among Bitcoiners. We can create decentralised custody \u0026 lending solutions but the centralised solutions will always be more convenient \u0026 easy. I will be focusing my time, attention \u0026 purchasing power on food production \u0026 building resilience. It is the fire that's been quietly burning within me my whole life, my purpose. \n\nBitcoin isn't the biggest threat to the controllers \u0026 as individuals they personally benefit from its empowering properties. At the end of the day, an organisation/country can't sign a transaction or control a UTxO, it requires individual humans. I have faith in individual humans acting in their own self interest \u0026 discovering/remembering their own innate power. It seems like we have the odds attacked against us but enslaving humanity has never succeeded at scale, for long. Nature abhors imbalance.",
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