The article argues that Bitcoin was initially designed to allow individuals to escape state-controlled monetary systems, but the cryptocurrency landscape has shifted towards prioritizing scalability over decentralization with platforms like Ethereum and Solana. While Bitcoin maintains a fixed supply and immutable nature, making it a reliable store of value against inflation, competing networks often compromise decentralization for flexibility and performance. Governance issues in Ethereum and the centralization risks in Solana are highlighted, showing how venture capital has reintroduced control dynamics that Bitcoin sought to eliminate. The author emphasizes the importance of decentralization for censorship resistance and economic freedom, warning that networks risking decentralization are vulnerable to new gatekeepers. To fulfill the promise of cryptocurrencies, the industry must recommit to Bitcoin’s core values, ultimately separating currency from state influence.

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