Anarchy Moment 0358 – Going To The Homeless Shelter To Lift Weights and The Flaw In Bitcoin. — 1 Comment

  1. Here’s the deal with Bitcoin.

    The thing that it and gold have in common is that they are stores of value due to their finite supply and the difficulty in mining the dwindling amount of it that is still in the ground/algorithm. Unlike with fiat currency, there is no gold-printer go brrrr and there is no bitcoin printer go brrrr. There can only ever be something like 21M bitcoins.

    As for utility, for most of the history of gold being a store of value, it was turned into jewelry as a way to display wealth. It was still intrinsically a store of value, specifically because it was of minimal practical utility, being soft, inert and highly ductile, as metals go.

    Only the dawn of high-tech has changed this, by using gold in circuits and heat-shielding because of it’s very low resistivity/high conductivity. The effect of this has been a bit of a give & take, because the consumption of gold for electronics has diluted its intrinsic value in the sense of giving it utility, and at the same time it’s made gold still held for its intrinsic value rarer than before.

    As for bitcoin software spilling details to the CIA… no need. The blockchain is public. Every single transaction is traceable. The only thing the gubmit needs to do is infiltrate the tumbler services that mix up the bitcoins as a way to try and disconnect people from transactions in the ledger.

    This is why privacy coins like Monero (where the blockchain doesn’t have this traceability) come in handy when you want to buy toilet roll and coffee on the dark web.

    So there you go. Neurodiversity go brrrr, you sarcastic fuck 🙂

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