Fiat is X.

Yesterday, in his recent Perspective, Frank welcomed all bitcoin enthusiasts to participate in Nostr: “The world’s largest bitcoin circular economy.” I wholeheartedly support this call; Nostr resonates more with Bitcoin’s core principles than Elon Musk’s platform, X, does.

Similar to how the funds in your bank account are not entirely yours, your content on X doesn’t truly belong to you either. Conversely, your posts on Nostr are linked to your own public key. While X has the authority to censor what you post, Nostr doesn’t grant such power to any single entity. In a comparison to the Federal Reserve’s control over interest rates, X manipulates its algorithms to direct discussions, while Nostr empowers its users. As “President Musk” makes a significant impact on Washington, X appears to be merging with the government and operating like fiat currency.

From a personal standpoint, my engagement on Nostr surpasses that on X. Although I occasionally come across interesting perspectives on Nostr, X is flooded with generic TikTok-style memes, clickbait, and mediocre comments. I still share content on X, but my interest is waning, and I anticipate further disconnection from the platform. Conversely, I find myself actively participating on Nostr (particularly through Damus and Amethyst) and foresee an increase in my involvement there.

While Nostr may currently occupy a niche space, it may persist in this domain. Despite the hype surrounding ETFs, MicroStrategy, and Strategic Bitcoin Reserves, the trend of trusting centralized authorities seems prevalent among many in the bitcoin community. Nevertheless, I prefer the distinctiveness of Nostr over the crowded environment of X.

This piece is presented as a Perspective. The views expressed are solely those of the author and do not necessarily represent BTC Inc or Bitcoin Magazine.

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