The question that sent me down the rabbit hole a few months ago:
- Is Bitcoin decentralized and secure, or is it allowed to look decentralized and secure?
TL;DR
Bitcoin is permissionless in code but permissioned in practice by choke-points that governments and large intermediaries either directly control or can cheaply coerce. It's allowed to look decentralized/secure so long as it functions primarily as a supervised store of value and speculative asset, not a mass medium of exchange outside compliance rails.
buckyfonds / Control-Plane Capital
npub1x9…p6rta
2025-11-06 08:31:37 UTC
Author Public Key
npub1x9hghmfunry8wcgg8s8w5e3drmkndw92r8qu0cp2l28u32aqqn9q6p6rtaSeen on
wss://relay.damus.ioPublished at
2025-11-06 08:31:37 UTCEvent JSON
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"content": "The question that sent me down the rabbit hole a few months ago:\n\n- Is Bitcoin decentralized and secure, or is it allowed to look decentralized and secure?\n\nTL;DR\n\nBitcoin is permissionless in code but permissioned in practice by choke-points that governments and large intermediaries either directly control or can cheaply coerce. It's allowed to look decentralized/secure so long as it functions primarily as a supervised store of value and speculative asset, not a mass medium of exchange outside compliance rails.",
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