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Replying to Avatar Daniel Wigton

Interesting. One thing to note is that while we'd like our currency to be a store of energy and effort, it isn't. No matter your currency it is useless absent someone else's desire to obtain it.

Thus while we'd like to store what we produce, we instead have to settle for a vote on future allocation of resources. We'd like to convince future people to allocate resources to care for us.

The key component to money functioning is the presence of people in the future. Technology and network effects can amplify the effort of those people, as you noted, but at its base what we want to bid on is human effort.

The surest way to secure allocation of effort is to endear yourself to them. In times of scarcity people will support their friends and family in a free exchange of goods, time, and energy. Only after that will they consider acquiring some of your Bitcoin.

Have kids first, get Bitcoin later.

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OceanSlim 4mo ago

Bitcoin is a store of energy and effort. That's what mining is.

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Daniel Wigton 4mo ago

No it isn't. The energy spent on mining is gone. I can't run a vacuum cleaner off a Bitcoin. Batteries store energy, Bitcoin is only a vote on how to spend energy in the future.

The disconnect is obvious every time the price of Bitcoin changes.

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OceanSlim 4mo ago

The price of Bitcoin? What do you mean? A Bitcoin is a Bitcoin. What it will buy will always increase over time.

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