A couple of years in the past, I made an unlikely wager: to construct a Bitcoin round financial system within the coronary heart of a fishing village in Brazil’s Northeast. No enterprise capitalists, no “crypto,” no empty guarantees. Solely nodes, satoshis, in‑particular person schooling and loads of sidewalk conversations.
That’s how Praia Bitcoin Jericoacoara was born: a radical experiment in monetary sovereignty constructed with open supply instruments and ft within the sand.
In 4 years at Praia Bitcoin Jericoacoara, we turned a seashore city right into a dwelling Bitcoin classroom: We onboarded households, shopkeepers and avenue distributors; taught self‑custody in small teams; put in dependable Lightning routes and level‑of‑sale instruments; ran social packages paid in sats; and hosted meetups that made Bitcoin a part of day by day life.
Dwelling on the Bitcoin normal, I started to see what is de facto occurring on the technological edge.
In August 2025, I printed 4 quick articles on X. Completely different in type and tone, they converged on the identical query: What function ought to Bitcoin play, and what function ought to we play in constructing it? They got here in fours:
- a subject report on our work with the Bitcoin Neighborhood Financial institution in Jericoacoara
- a critique of bitcoin maximalism’s rigidity
- a diplomatic letter inviting Bhutan’s prime minister to think about the satoshi as a unit of account, and
- a public enchantment to maintain Bitcoin a peer‑to‑peer money system.
What they share is the will to align follow, idea, and a future‑going through imaginative and prescient.
Within the first piece, I shared the challenges and classes from an actual experiment: constructing a Bitcoin‑based mostly round financial system in Northeast Brazil. Impressed by Bitcoin Seashore in El Salvador, we rooted the Jericoacoara mission in schooling, inclusion and native infrastructure. We put in servers, onboarded retailers and neighbors, created social packages and sought institutional recognition as a Neighborhood Bitcoin Financial institution.
We had been rejected by the native authorities. Even within the face of the state’s authorized and political unpreparedness, we moved ahead with conviction. We imagine that when Bitcoin is rooted in place, it may be greater than cash; it may be a device for neighborhood transformation. But authorities struggled to know this, and so they denied our request to register what would have been the primary Bitcoin neighborhood financial institution.
Within the second piece, I confronted an ideological rigidity inside the neighborhood itself. Maximalist rhetoric, which defends Bitcoin as the one respectable mission and treats the remainder of “crypto” as scams, had its historic function. It helped shield the integrity of the ecosystem, uncovered frauds and accelerated market maturation. However does it nonetheless serve the objective of enormous‑scale adoption? Does it assist talk Bitcoin’s worth to newcomers? I caught myself ignoring related technological options just because they had been outdoors the maximalist bubble.
After revisiting the dialogue and studying each reply and quote, my conclusion was that different tasks find yourself serving as funnels, sandboxes or distribution channels that drive folks towards actual Bitcoin adoption. Stablecoins, altcoins, memecoins, and centralized cryptocurrencies are transferring towards Bitcoin, absorbing inflation and even serving to to ascertain the costs of different commodities. Maybe it’s time for a brand new posture: not abandoning ideas, however embracing a Bitcoin that retains the deal with the essence whereas remaining prepared to have interaction with a world in fixed transformation, with skepticism and an open thoughts; by educating regulators that Bitcoin is the decentralized cryptocurrency and that every one different tasks are centralized cryptocurrencies.
Within the third piece, I took this imaginative and prescient into the diplomatic area. I wrote an open letter to Bhutan’s prime minister suggesting that the nation take into account adopting the satoshi as its nationwide unit of account.
The proposal, extra symbolic than technical, had a transparent objective: to think about how Bitcoin can have interaction with various improvement fashions that don’t rely on the IMF or the greenback and that respect native tradition and sovereignty. The response to the letter revealed one thing vital: even inside the Bitcoin ecosystem there are ideological lanes: conservatives, centrists and progressives, every making an attempt to interpret the protocol via a definite worldview.
This text is subsequently some extent of convergence. It ties collectively these three experiences (sensible, ideological and diplomatic) to suggest a recent have a look at what we’re actually making an attempt to construct. Greater than repeating dogmas, this second requires discernment. Greater than speaking about freedom, it’s time to follow it the place it’s most wanted — on the bottom, in our language, in our establishments and in {our relationships}.
Within the fourth piece, I distilled my open be aware to Bitcoin Core right into a easy level: hold Bitcoin a peer‑to‑peer money system, not a generic information host.
I argued that loosening default information‑carrying settings invitations bloat, authorized danger and reputational harm, and requested builders to assume in centuries, not launch cycles. I additionally famous that current Core releases, v29 and v30, revisited how a lot further information transactions could carry by default. That lives on the technical fringe of the protocol — software program defaults, not the financial guidelines. Bitcoin is cash. Like a banknote you possibly can scribble on however not use to publish a guide, transactions can embody small notes however shouldn’t be hijacked for unrelated content material.
This context raised an even bigger query: What do we wish Bitcoin to be? The change made the fault strains clear: completely different teams love Bitcoin for various causes and settle for completely different commerce‑offs. Within the subsequent part, I title these lanes and present how they match collectively.
Watching Bitcoin Knots achieve visibility relative to Bitcoin Core, and listening to builders complain about its pull‑request course of, jogged my memory of the First Follower lesson. Knots is essentially maintained by a single developer.
Actions don’t scale as a result of a lone chief is good. They scale when early followers make participation seen and straightforward, decreasing social danger and exhibiting others precisely easy methods to behave.
From contained in the business, spending numerous hours analyzing geopolitics and future tendencies, I started to see Bitcoiners in 4 important classes, with the extremes on either side clearly outlined so let’s break them down.
The 4 Archetypes of Bitcoin
Bitcoin Database, Coordination Builders
Core perception: Bitcoin is a impartial public file. It might coordinate folks and software program. Cash is one highly effective use, not the one one.
What they prioritize: Time‑stamps and proofs; public data; identification attestations; new media on Bitcoin; social protocols like Nostr; constructing most options on higher layers so L1 stays steady.
What they get proper: They appeal to builders and new customers with recent concepts and on‑ramps. Extra experiments imply extra probabilities to search out lasting utility.
Dangers and blind spots: The highlight can drift away from cash. An excessive amount of nonmonetary information can waste block house and invite controversy. New programs generally reintroduce trusted middlemen.
Angle to Lightning: Open, when it helps apps really feel on the spot. Additionally discover different rails. Hold L1 easy.
North Star checks: Helpful apps with actual customers; lively builders; low, respectful footprint on L1.
Frequent examples: Casey Rodarmor and Ordinals; Muneeb Ali and Stacks; Burak and Ark analysis; Maxim Orlovsky and RGB; fiatjaf and Nostr; OpenTimestamps. (Word: that is illustrative, not endorsements.)
Tagline: “Bitcoin is a database.”
Bitcoin Central, Market Pragmatists
Core perception: Bitcoin is cash and an asset. Worth and liquidity drive adoption at scale and assist fund safety and improvement.
What they prioritize: ETFs and treasuries; compliant on‑ramps and off‑ramps; deep, wholesome markets; schooling for traders and establishments.
What they get proper: Liquidity brings the subsequent wave of customers and pays for builders, mining and schooling.
Dangers and blind spots: Comfort custody and quick‑time period pondering. Distribution can focus in a couple of massive fingers.
Angle to Lightning: Pragmatic. Use it when it helps attain extra folks.
North Star checks: Market depth and volumes; hashrate safety price range; ETF and retail participation.
Frequent examples: Michael Saylor; iShares and Constancy Bitcoin ETFs; market makers; on‑chain analysts. Edge Case: Excessive leverage and over‑reliance on company treasuries.
Tagline: “We care about value.”
Bitcoin Conservatives, Financial Purists
Core perception: Bitcoin is cash. Defend the bottom layer. Shortage, neutrality and self‑custody are nonnegotiable. Save first, then spend (e.g., in a round financial system).
What they prioritize: Easy, steady guidelines on L1; run your personal node; schooling on keys, UTXOs, and charges; miner and shopper variety; very long time horizons.
What they get proper: Clear incentives and robust tradition. If cash is damaged, each value within the financial system is improper. Repair cash first.
Dangers and blind spots: UX and funds can lag. Newcomers could really feel gatekept. Adoption can gradual if on a regular basis use is ignored.
Angle to Lightning: Usually skeptical. Favor on‑chain finality and warn about complexity and custodial drift.
North Star checks: Extra cash in self‑custody; wholesome node rely; decentralized mining; rising lengthy‑time period holder provide.
Frequent examples: Saifedean Ammous; Pierre Rochard; proof‑of‑keys model campaigns; full‑node tradition and chilly storage. Edge Case: By no means promote. Deal with each altcoin as a rip-off.
Tagline: “Bitcoin is digital gold.”
Bitcoin Minimalists: Digital Gold and Digital Money, Software for Social Transformation
Core perception: Bitcoin ought to be digital gold for saving and digital money for spending, with the smallest doable belief floor.
What they prioritize: Save on‑chain with ultimate settlement; spend through noncustodial Lightning the place doable; use ecash mints like Cashu for privateness with easy exit to keys; service provider flows that settle to self custody.
What they get proper: Align financial savings and day by day use with out giving up sovereignty.
Dangers and blind spots: Friction and slower distribution; reluctance to undertake UX abstractions; fragmentation throughout minimal stacks.
Angle to Lightning: Sure, however strict. Favor noncustodial or minimally trusted setups. Be cautious with massive custodial hubs.
North‑star checks: Customers who each save on‑chain and spend through non‑custodial L2; simple withdrawals to keys; excessive fee success with out custodians.
Tagline: “Purchase, spend, substitute.”
Conclusion
Bitcoin’s tradition consists of 4 trustworthy defaults that usually speak previous each other. Builders increase the floor space, market pragmatists show on a regular basis utility, financial purists scale distribution and minimalists shield the bottom.
Collectively. they create a productive rigidity that retains Bitcoin helpful and resilient for actual folks.
After years of working in a round financial system and writing publicly about these debates, my view is easy. Bitcoin is cash. Hold the bottom layer easy. Save in bitcoin on-chain. Spend in sats when it serves folks, because it does in a round financial system. Assist Lightning solely when the exit to your personal keys stays clear and easy. I don’t assist the “Bitcoin as Database” path, as a result of turning Bitcoin right into a normal information host distracts from its financial mission and invitations waste, confusion, and reputational hurt.
The best way ahead is sensible and principled. Decide concepts by whether or not they develop self custody, make funds dependable with out custodians, deepen liquidity that funds safety and schooling and respect the bounds of the bottom layer. If we maintain to that normal, the lanes can complement each other and extra folks will share in the advantages of a free, impartial and credibly decentralized cash.
BM Massive Reads are weekly, in-depth articles on some present matter related to Bitcoin and Bitcoiners. Opinions expressed are these of the authors and don’t essentially mirror these of BTC Inc or Bitcoin Journal. You probably have a submission you assume matches the mannequin, be at liberty to succeed in out at editor[at]bitcoinmagazine.com.
