The Dogecoin Community Might Sh**t me for Saying This...

The Dogecoin Community Might Sh**t me for Saying This: Reclaiming Satoshi's Vision by The DCo Podcast

Author: The DCo Podcast

Date: October 2023

Quick Insight: This summary challenges common crypto narratives, arguing Dogecoin, not Bitcoin, stays true to Satoshi's original vision of a decentralized means of exchange. It offers a contrarian view for investors and builders on the true utility of digital currencies beyond store of value.

💡 Why did Bitcoin pivot from its original purpose as a means of exchange?
💡 How does Dogecoin embody Satoshi's initial vision for a decentralized currency?
💡 What is the ultimate goal for decentralized finance, beyond specific coin allegiances?

The crypto world often debates utility, but what if the original intent got lost? This episode features a speaker who, with the conviction of a true believer, argues that Bitcoin, seduced by profitability, abandoned Satoshi Nakamoto's foundational idea. Instead, they contend, Dogecoin carries the torch for a truly fair, unmanipulated global means of exchange.

Top 3 Ideas

Bitcoin's Pivot "Bitcoin lost its way."

Original Intent: Satoshi's vision, born from the 2008 financial crisis, aimed for a decentralized means of exchange to counter inflation and centralized control. This sought to create a level playing field, free from government manipulation.
The Car Analogy: Imagine a revolutionary car designed for efficient, affordable daily commuting. Investors, however, realized its rarity made it a collectible, so people bought it to park and watch its price rise, making it too expensive and slow for daily commutes.
Operational Constraints: Bitcoin's design, while making it robust as a store of value, inherently limits its speed and cost for frequent exchanges. This technical reality made the pivot to store of value a practical, if not ideal, outcome for many.

Dogecoin's Unwavering Path "Dogecoin has continued with that original vision of simply being a means of exchange that is fair that can't be cheated that can't be manipulated by global governments."

Means of Exchange: Dogecoin maintains its focus on being a fair, unmanipulated medium for transactions, aligning with the original decentralized finance ethos. This positions it as a potential everyday currency rather than a speculative asset.
Building on Giants: Dogecoin benefits from Bitcoin's pioneering efforts, much like any open-source project builds on prior work. This allows Dogecoin to refine the concept of a decentralized means of exchange without repeating Bitcoin's initial challenges.

Beyond Coin Allegiance "If Dogecoin pushes the narrative of decentralized finance for the next few years, but ultimately something else manages to take over the world, but remain true to the original intent. I won't be sad that Dogecoin played its part in that."

Grandchildren's Future: The ultimate goal is a level playing field for future generations, not the success of a specific coin. This perspective prioritizes the underlying principles of decentralization over tribalism.
Purpose Over Profit: The speaker's optimism stems from a purist view that the core mission of decentralized finance transcends individual project outcomes. This suggests that even if Dogecoin isn't the final winner, its contribution to the movement holds value.

Actionable Takeaways

🌐 The Macro Shift: The ongoing global distrust in centralized financial systems fuels a search for decentralized alternatives, yet the crypto market's focus on "store of value" assets like Bitcoin risks missing the original intent of a truly global, fair means of exchange, a gap Dogecoin aims to fill.
⚡ The Tactical Edge: Re-evaluate digital asset utility beyond speculative store-of-value narratives, considering projects actively pursuing frictionless, low-cost means of exchange.
🎯 The Bottom Line: The long-term viability of decentralized finance hinges on its ability to deliver practical, everyday utility, not just investment returns. This means projects focused on transactional efficiency could gain significant ground in the coming 6-12 months.

Podcast Link: Click here to listen

What is Dogecoin's utility for you and how do you try to convince people that that is the utility?

I talk about the original vision of Satoshi Nakamoto. I go back to the original Bitcoin white paper and I point to the global financial crisis of 2008.

I say these are the symptoms of runaway inflation, money printing, all of these things which come with having centralized financial systems.

Satoshi, whoever he was, had a really good idea which I personally believe if was embraced globally would solve a lot of problems. We go back to that level playing field, defunding forever wars, all these kind of great outcomes that you would have.

But Bitcoin, and I know people get angry at me for saying this, Bitcoin lost its way. The financial system came and dangled the carrot of profitability in front of the Bitcoin community and they took that bait.

They pivoted from the original let's be a means of exchange to being a store of value.

I then turn around and I say Dogecoin hasn't done that. Dogecoin has continued with that original vision of simply being a means of exchange that is fair, that can't be cheated, that can't be manipulated by global governments.

As an optimist and a purist, to me right now when I look around it's still on a trajectory to hopefully achieve that one day.

It was pretty difficult for Bitcoin to be medium of exchange. So then what is the other property of money?

It is liquidity and it is store of value. It was by elimination that I think everyone landed on store of value rather than saying that no look you should focus on store of value because it was difficult for it to be medium of exchange given the constraints.

We understand that those constraints is what makes Bitcoin so good. But again you can't operate at that speed and that price, that cost for people to keep exchanging it all the time.

I don't resent the Bitcoin community for making that decision. I think that Dogecoin has had the benefit of following up and plowing ground that's already been plowed by the Bitcoin community.

It's the same with any open source technology. We all say we build on the shoulders of giants who've gone before us.

Maybe it's just fortuitous that we have that opportunity to step in and fill that gap and maybe it's like that sort of relay race. We take the baton and get to run with it.

People in the Dogecoin community will absolutely shoot me for saying this, but if Dogecoin pushes the narrative of decentralized finance for the next few years, but ultimately something else manages to take over the world, but remain true to the original intent, I won't be sad that Dogecoin played its part in that because ultimately I'm looking for that level playing field for my grandchildren, not just the one that I like.

The Dogecoin Community Might Sh**t me for Saying This...