The ecosystem's cultural tone shifted dramatically, with Bitcoin Maximalists losing influence. Two opposing groups now dominate: Suitcoiners, who drive financialization and build leveraged products akin to Wall Street habits, and Degens, Ordinals-focused cypherpunks who obsess over on-chain jpegs. Suitcoiners tend to lack appreciation for censorship resistance, decentralization, and self-custody. Degens engage in inane or degenerate behavior but value and use permissionless tools that enable self-custody and censorship-resistant action. These opposing echo chambers shape onboarding for most newcomers, and preference is placed on the group that preserves technical protections and permissionless control of funds.
Dominant narratives, actual actions, and real impact has become completely dominated by either the Suitcoiners, clownish Wall Street types building the exact same kind of degenerate leveraged financial products on top of Bitcoin that caused the 2008 financial crisis, or the Degens, completely degenerate Ordinals obsessed cypherpunks with a moronic fixation on the notion of ascribing ownership to jpegs stored on the blockchain.
It's frankly kind of disgusting and embarrassing that things have gotten to this point in this space. All meaningful drivers to growth and adoption are pulling people into a culture of brain dead suit-think completely devoid of any understanding or grasp of the true value that Bitcoin offers, censorship resistance and decentralization, or a culture of using those things for the stupidest most meaningless drivel imaginable rather than truly impactful uses that can change lives in a positive way.
In that political reality, I will stand with the Degens. Everything they engage in is inane, moronic, pointless imaginary nonsense, but they at least appreciate and understand censorship resistance and the decentralization that creates it. They appreciate the value of self custody and tools that allow them to do what they want with their own money without needing to seek permission from someone else.
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