Thankfully truth is not a popularity contest (although price may be, for a little while)
Discussion
I agree with that maxim but it doesn’t mean they’re wrong either. Being a fully decentralised ledger/system with a programmed issuance schedule all backed by tremendous amounts of energy make this the very antithesis of fiat.
I will add though that it’s great to see some non-bitcoiners start coming into nostr. Welcome
Thank you
I share the doubts many express here about regime currency, regime science, regime health, regime food, regime wars, etc
You are my people even if you do believe in magic internet money that doesn't really exist
If Bitcoins are backed by energy who is the issuer of the coins and in what form will they deliver the energy and how much energy will the issuer deliver for each coin?
Gold is not "backed by energy" nor is gold "stored energy" or anything like that. Rather, the energy required to find, extract & refine gold is a limitation on supply. There is zero energy *demand* for gold. Nobody buys gold so they can go to the issuer of gold (God himself, or at least a supernova) and redeem each tz of gold for a certain volume of oil or a certain number of kilowatt-hours of electricity.
But, when the dollar was backed by gold this is precisely what happened. A perfectly valid way to get gold was to first acquire US dollars and then proceed to the issuer of dollars and exchange them for gold, at a fixed exchange rate and for a predetermined form of gold.
If the world went back on a gold standard then the need for bitcoin would be reduced enough that it would probably die off - however, this isn’t going to happen imo.
Get yourself a small allocation - this is an asymmetric play that you shouldn’t miss out on
