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Anarchy Moment 0358 – Going To The Homeless Shelter To Lift Weights and The Flaw In Bitcoin. — 2 Comments

  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 🙂

    • In a hyperthetical collapse scenario, try buying food with Monero. See how far that gets you when even Fiat currency has more worth as toilet paper.

      Shitcoins are speculative, just because there are a finite amount of them in circulation doesn’t make them inherently valuable. It’s all a rugpull, and sooner or later someone is going to be left holding the bags. If you want to channel your inner Jew, go ahead and dabble in speculative goods like Crypto, convince others it’s the new gold standard so you can dump as they pump your shitcoin. But don’t try coping by thinking it’s some amazing hidden currency to stick it to da man. We already have that, it’s called cash. And yes, it’s as equally worthless as Bitcoin is when you think about it (Only holding a value while we determine it has one).

      I think the money debate is moot anyway, if you want a civilisation, you’re going to need to have a monetary token based economy. Otherwise we can’t have people producing things aren’t food in mass like we have. A stratified society where we have people doing all sorts of shit for a worthless paper note is a necessary evil. The unnecessary part is taxation of such a system.

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