Dear Bitcoin Maxis, Rethink Arweave
Arweave is misunderstood among Bitcoin Maxis: You're missing out on it's potential.
Dear Bitcoin Maxis,
Arweave is NOT a currency
Protocol
The protocol earns REVENUE that’s locked in a pool,
To algorithmically deliver the SERVICE of file storage.
So it’s a decentralized trustless service provider, and NOT a central bank. The earned revenue is locked in the pool, to pay out the providers.
To Investors,
Now that Gary Gensler is gone, we can be honest and say,
To an investor, Arweave is like stock in a decentralized company,
You’re betting on the protocol earning (or locking in) more revenue.
To Customers
To a customer, Arweave is like a coupon, and NOT a currency, because it’s priced in US dollars. Arweave sells service for 100 years of storage at the current US DOLLAR rate. The price customers pay for 1G of storage on Arweave, goes up or down with the fiat value of storage. Since when does a currency price set prices in a different currency? It’s a coupon!
Trustless
The reason you’d want to use it, over just paying someone in Bitcoin, is because the program has a binding contract. It’s trustless access to the entire protocol, and not just paying some dude, who can bounce.
Doesn’t Compete with Bitcoin
Arweave does NOT compete with Bitcoin or “currencies”. Because Arweave’s only value is in the amount of revenue it sells of it’s own service. Nobody would use Arweave for general purpose money, because it’s NOT private.
Not Private
Since Arweave wallets are tied to your files, using it as general purpose money, would be literally broadcasting to the entire blockchain everything that exact website owner is doing.
Value
Arweave can IMPROVE the lives of Bitcoin Maxis, without competing. As Maxis can host websites, own domains, and host podcasts in a completely uncensored way. And they can visit websites without Cloudflare or Government surveillance.
Nostr
In fact, Arweave domains could be used by Nostr clients, to allow for Nostr key rotation, and easy discovery by one word names.
Final Thoughts
You have a moral obligation to learn about this before dismissing it. By outright dismissing it, you aid the empire in censorship and oppression.
If you really want to learn and take your privacy to the next level, subscribe to our new content via: Nostr, Bastyon, Session, RSS, Ethereum Push
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