Honestly, those who lost money did so because they were aiming for profits, not for The Network State, or for having non-seizable money etc. On the other hand, for those who got in early because they were online and curious at the time, with a small amount of money back then has made them billionaires today, an extremely low risk. If they arrived a bit later, millionaires, still with a really soft risk.

Then of course, there are MANY problems starting with BTC https://blog.dshr.org/2025/09/the-gaslit-asset-class.html but they generally aren't what most people talk about, and today, even if the complexity is insane, the documentation sparse, and the code quality questionable, Lightning is actually the only truly scalable solution we have for micropayments and payments of various amounts, generally not large ones. It has some absurd aspects, but that hardly matters. It works.

More generally, we don't have a crystal ball; where we can, we diversify, certainly limiting risk but also taking a bit of a gamble; where we can't, we choose to watch and see how it goes, knowing that we'll pay for it in terms of returns.

As things stand for me personally, given the level of IT obscenity in the traditional banking world, which in 2026 still doesn't have decent APIs open to retail customers, or at least decent export functions, shameful websites, a push towards completely unacceptable mobile apps, absurd limits etc etc etc, well, the worst CEx is less bad than the best bank. I don't trust either, but I distrust the CEx less than the bank, and given Wikileaks, Francesca Albanese, the protesters in Canada, the various private individuals illegally "sanctioned" by the EU Commission and so on, I'd say it's madness to rely on banks for anything more than the bare minimum.

Most people today know nothing of this and don't weigh it up, but they will, and they'll pay for this delay with their lack of attention.