The call to "upgrade Bitcoin" is misguided. Since the ledger is a record of human decisions, the focus should be on upgrading our collective understanding of the system. A flawed mental model of Bitcoin will manifest as flawed actions and proposals on the network.

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While true comprehension of Bitcoin is rare (under 1%), adoption by entities like the state of Texas is driven by signals like price, longevity, and endorsements from trusted firms like BlackRock, not a fundamental grasp of the technology itself.

A quantum-resistant upgrade for Bitcoin creates a major governance dilemma regarding the 20-30% of coins in early, vulnerable addresses (like Satoshi's) that are likely lost. The community must decide whether to allow an attacker to seize these billions, potentially destabilizing the network, or to proactively burn them via a contentious code change.

The argument that 'Bitcoin fixes this' ignores human reality. Its volatility and complexity create an insurmountable adoption barrier for the average person. The only practical solution for the masses is holding governments accountable, not mass crypto adoption.

The fiat monetary system, which lacks a hard cap, trains people to think within incomplete, unbounded frameworks. This "fiat mindset" makes it difficult to understand and trust a complete, bounded system like Bitcoin, where all rules are defined and finite from the outset.

Major innovations often aren't about inventing new components, but about cleverly integrating existing, mature technologies into a unified product. This was true for Netscape's browser and Bitcoin, and will likely be true for the first successful network states, which will combine crypto, VR, and community platforms.

Seemingly sudden crashes in tech and markets are not abrupt events but the result of "interpretation debt"—when a system's output capability grows faster than the collective ability to understand, review, and trust it, leading to a quiet erosion of trust.

AI models provide credible, deep explanations of Bitcoin, bypassing the skepticism often directed at human advocates. This allows newcomers to overcome the steep learning curve and see Bitcoin's validity, potentially speeding up mainstream acceptance.

The hosts discuss the "narrative theory of Bitcoin," which posits that because Bitcoin has no inherent function, it can morph into whatever the market desires each cycle. It has transformed from a payment system to an inflation hedge, showcasing its unique ability to adapt its story to survive.

The biggest barrier to crypto adoption is the cognitive effort required to build new mental models for concepts like cryptographic security and decentralized ledgers. This process is slow and generational, much like the early internet, advancing "one funeral at a time."

Blockchains have evolved like computer architecture. Bitcoin was a single-purpose, incentivized P2P network. Ethereum introduced programmability, akin to the shift to general-purpose computers (von Neumann architecture). The current era of L2s focuses on scalability and specialization.