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Sunday, 12 June 2022

Meme Term, Fiat Forward vs Bitcoin Forward

Reflecting on my first lighting node a Casa pi 3 with a spinner got ne thinking about business decisions. These nodes were really revolutionary at the time. An Autopilot feature that is still not matched in user friendliness today. There apparently were some issues with the autopilot that meant it could be gamed a little, but nobody lost much money over it. It could have been patched. They were also blamed for not realising that the available technology at the time would be quickly outdated and too slow to run a strong enough LND node. I have to admit I was a bit grumpy, but made even more so when Casa decided to stop providing lightning nodes altogether.

I can only guess that it was a decision made chasing fiat. The nodes were a kind of bait for their subscription model and the fiat probably didn't add up when you looked at all the administration needed, and the possibility of having to ship new hardware, charge for it and fess up to making some mistakes. 

The bitcoin does stack up though, especially when you look at it now, they were too Fiat forward. In the long term they would have held the market share which Umbrel now has. You could create a mesh network with the pi 3 and a pi 4 and have a more powerful node that everyone would be gaga over right now. At the time, looking at the fiat you would have thought that was crazy, but looking at bitcoin you would have thought, how honourable and selfless for the cause.

Fiat forward decisions are often wrong it seems. Bitcoin forward decisions, though they may seem altruistic at first but probably the right financial decision in the long run.

Bitcoiners know that bad money leads to bad decisions.Bitcoin forward decisions are best. What is good for bitcoin is probably best for you. in the meme term

Casa still do some really good work. check them out here

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