In this conversation, Stephan Livera and Fernando Nikolic discuss the evolving narratives surrounding Bitcoin, the fragmentation of its community, and the role of media in shaping public perception. They explore the differences between institutional and retail adoption, the importance of cultural moments, and Blockstream's innovations in the Bitcoin space. The discussion highlights the challenges and opportunities for Bitcoin as it continues to grow and adapt in a rapidly changing landscape.Takeaways????Bitcoin adoption is now more about narrative convergence than mass conversion.????The Bitcoin community is becoming increasingly fragmented into subcultures.????Media coverage of Bitcoin is shifting, with some outlets pivoting to more positive narratives.????Cultural moments are crucial for Bitcoin's mainstream acceptance but are currently lacking.????Institutional adoption is growing, but retail participation is not as vibrant as before.????Bitcoin's future may depend on the ability to create new cultural moments.????Liquid is gaining traction as a useful layer for Bitcoin transactions.????The importance of memes in driving Bitcoin's cultural relevance cannot be underestimated.????Different ideologies within Bitcoin can coexist and contribute to its growth.????Blockstream is focusing on making Bitcoin more accessible to consumers.Timestamps:(00:00) - Intro(01:27) - The evolving narrative around Bitcoin(11:12) - Is Bitcoin winning?; Institutional vs Retail Adoption(17:30) - Cultural moments in Bitcoin over the years(27:00) - What is BTC Perception and why was it made?(31:44) - Are MSM & TradFi learning more about Bitcoin through Bitcoiners?(36:02) - Which media outlets are most hostile towards Bitcoin?; Q2 Bitcoin Perception report (45:45) - When is retail going to show up?; Will memes take us higher? (54:17) - What’s new with Blockstream?(58:05) - Is Liquid gaining traction in terms of adoption?(1:06:50) - Closing thoughts Links: https://x.com/basedlayerhttps://x.com/BTCPerceptionhttps://x.com/BlockstreamSponsors:Bold BitcoinCoinKite.com (code LIVERA)Lana by GaloyStephan Livera links:Follow me on X: @stephanliveraSubscribe to the podcastSubscribe to Substack