Replying to Avatar Monte

Lol. Digital goods don't exist?
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a source familiar with the matter 6d ago

Not scarce ones, no.

If Bitcoin is the physical hardware, it doesn't have all these wonderful properties.

If Bitcoins are the entries in computer memory, they may or may have these wondeful properties but are not scarce.

If Bitcoins are the things to which the ledger entries refer, they don't exist.

One way you can see that Bitcoiners don't think clearly is that they refer to the network, the code, the ledger, and the ledger units all as "Bitcoin".

If you make a firm distinction between the ledger and the ledger entries and the ledger units you see immediately that's it's totally absurd to give up your time and energy for these ledger entries.

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Monte 5d ago

A bird is not its feathers, beak, or legs. It is the (strong) emergence of the structural functional whole. Likewise with Bitcoin.

And scarce digital assets can exist if they are anchored to the physical world. Understanding proof-of-work is essential here.

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a source familiar with the matter 5d ago

Proof of work is not a source of value.

The labor theory of value is wrong. Making it machine labor instead of human labor does nothing to redeem it.

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Monte 4d ago

$2T of value disagree with your armchair philosophy

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a source familiar with the matter 5d ago

A bird is its feathers, beak, AND legs (as well as various other parts).

There is no part of a Bitcoin. The ledger entries just refer to nothing, not to a lot of little parts that come together to make a thing.