Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexus.io, Circle, and FtX, and produced and distributed by CoinDes.

What's going on, guys? It is Sunday, October 16th, and that means it's time for Long

Read Sunday. Before we get into that, however, if you are enjoying the breakdown, please go

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All right, folks, happy Sunday.

So for this Longreed Sunday, we're going to turn to one of the key cultural storylines of this spare market,

which is the debate around Bitcoin maximalism. This discussion hit a fever pitch in June,

when a part of Bitcoin Twitter went after Nick Carter for his firm's investment in Dynamic,

which is a wallet-based sign-on company. Now, there were a couple things that made this a bigger deal than standard

toxamaxie cancellation. First, Nick Carter is widely seen as a hugely valuable member of the

community, for example, producing a ton of thoughtful content. He has often been seen as one of the

best people to defend Bitcoin as relates to environmental concerns. Number two, Nick might be an academic-seeming kind of guy,

but he's got the heart of a bare-knuckle boxer, and there was no way that he wasn't going

to clap back and clap back he did. He wrote a long piece, one that I excerpted for Long

Read Sunday back then, called Setting the Record Straight or a eulogy for Bitcoin maximalism.

A lot of the piece was about him, but the money shot was in the final section, where to go from

here. Quote, it's clear that there's an awful sickness pervading the Bitcoin space.

...