About Bitcoin, a somewhat brutal truth

· Real money: gold and silver—thousands of years of consensus.
· Fake money: fiat currency—“worthless paper” propped up by government credit.
· The people’s money: does not belong to any central bank; the rules are fixed; wealth belongs to the people.

Bitcoin was initially held up with great expectations, hoping to become “the people’s money.” But in reality—it's becoming more and more like “digital casino chips.”

Here are a few painful facts:

1. A large amount of BTC is concentrated in the hands of exchanges, miners, and crypto whales. Power hasn’t been decentralized, and it’s not fundamentally different from the fiat system.
2. Everyone is fixated on “how many dollars, how many RMB,” rather than using it to buy things or pay salaries.
3. In the collective subconscious, maximizing fiat gains is the real goal—which in itself proves it hasn’t escaped the old framework.

So what’s the big pie now?
In terms of money: it’s already dead. In terms of speculation: it’s becoming increasingly successful.

The paradox of “people-ness” is this: the more successful the big pie becomes, the more it deviates from its original intent.

True “people’s money” should, without any central authority, have fixed rules, not allow arbitrary issuance, and still be able to take on the regulatory functions of a modern economy. This is the fundamental dispute between Rule-based Money and Discretionary Money.

If that day really comes, the logic of wealth, debt, and power will all have to be rewritten.

But at least for now, the big pie is still the shiniest chip in the big casino.

$BTC ‌