Is there any other way with this š š£?
Learning more about this š š£ has been the biggest help to raising my critical thinking ability.
Discussion
Have you read The Bitcoin Standard by Saifedean Ammous? You can read it for free here:
Excellent read.
Can you sign my permission slip now?
Oh, I thought you were asking if there are other books worth reading š¤£ sorry about that
I donāt believe Bitcoin is violence or war, and I worry about the implications of this idea. We know the government cannot successfully ban Bitcoin, but I worry about them seizing the means of production and controlling miners, Bitcoin Core, etc., in the name of "national security".
That would just start a arms race with other countries jumping in. The wall of hash power would be unreal
Yes I can see that, and then Bitcoin mining will no longer be controlled by private individuals, but by competing governments who will surely use their fake fiat money to monopolize the industry. I like that the hash power slowly increases along with affordable technology. The whole process is just perfect.
But they couldnāt control it. With the cost of rigs and energy that is real investment, not BS POS with printed coins. Then they are stuck, canāt stop or it would increase Chinaās block rewards. Only choice is to push forward and maintain the mining difficulty. You canāt destroy bitcoin and at this point you are invested, might as well embrace it and use the bitcoin you mined
Yes, I donāt worry about the government destroying Bitcoin, and price would not be a concern to a government that prints their own monopoly money. The investment is real to the richest of people, but the government doesnāt have to worry about cost.
Mix this with Jasonās idea that mining rigs are a āweapon of mass mutual destructionā, and it could very well become a war-crime for individuals to mine Bitcoin.
I donāt know who Jason is, but that is the dumbest thing Iāve ever heard. Hypotheticals are one thing but we have real data. China banned bitcoin mining and over night hash power disappeared from China. 6 months later it all came back. Some rigs started back up in china and others crossed the border and started back up. Now they are opening up to crypto again in Hong Kong. You canāt stop it, like grabbing shadows.
Also the government still has to worry about cost itās just the scale is vast. Energy is a real thing that canāt just be printed. Still has to be produced, turbines have to turn, and it has limits.
Oh, I donāt mean the government bans Bitcoin mining. I mean they ban private individuals from mining Bitcoin so that they control it for ānational securityā.
Jason works for the military and believes Bitcoin is a weapon.
Here is an interview with Robert Breedlove and Adam Back. I love this interview, but had to listen to it a few times to figure out what Jason was actually saying.
I mean they could try and Iām sure it would cut down on it but people would still mine in secret from home. My point about china is they banned it but we still have hash power coming out of china. The CCP makes it their mission to know what their people are doing and if they canāt stop it then no other government will be able to either.
Iāll check out the interview
Jason makes a simple thing complicated. Heās right that a Bitcoin standard will make physical war of nation states too expensive. Heās also right that the nation state that holds the most bitcoin will initially be the most powerful. And tauschte us should be first. If youāre into nation states. But he misses the point that by being first, theyāll hyperbitcoinize, and thus their power unravels. He also portrays Bitcoin as a securely protocol first. When it really is money first (MoE, SoV and UoA). Secured by the most powerful neural network known to man.
Yeah nation states are not my thing at all. I do agree that a Bitcoin standard for the US would be much better than a fiat standard, but I donāt see them getting rid of fiat. Mixing the two is where I get concerned.
What I would like to see is the people replace fiat with Bitcoin themselves. I hate this misconception that money can only be determined by government decree.
Itās a paradox for the government. As soon as they get into it, theyāll destroy the dollar and Hyperbitcoinization unravels. They canāt not get into bitcoin. They have to be first. But therefore they will selfdestruct. Just like Bitcoinās paradox with greed. It turns greed into altruism.
I hope this is true. I can see the government mixing fiat with Bitcoin, like they do with gold. Either way, I just hope we buy up all the Bitcoin before the governments can get their dirty hands on it.