80
szarka
80ba3b7745d73bf269d5dad1e9952f3eff851d3f16fc5efb1f052889dea18705
Geek. Bitcoiner. Economist.
Replying to Avatar Lyn Alden

Most people who I know that think the CIA invented bitcoin, are not very familiar with the pre-history of Bitcoin including work by Back, Szabo, Finney, etc.

I'm not saying that certainly no intelligence agency created Bitcoin, but rather, I'm very skeptical of the certainty that many people have around that topic.

Because, when you are somewhat familiar with that pre-history and look at it from an engineering perspective, you can clearly see the pieces gradually falling into place. In the1980s there was work by Chaum about how to build a database run by mutually suspicious entities. In the 1990s there was work by Back for proof-of-work. As things moved into the 2000s, there was Szabo's Bit Gold, which is very similar to what Bitcoin ended up being, and Finney's Reusable Proof of Work "RPOW" tokens. Finney hadn't solved the centralization issue, and Szabo hadn't solved the issue of better computation causing supply inflation over time, but they were collectively within shooting range of the solution. Others as well. Meanwhile global bandwidth was getting better, encryption in general was getting better (and there we've got an actual intelligence agency contribution), etc.

And then Satoshi added to that work, including the difficulty adjustment in particular and many other details, with a full implementation.

Basically, if someone thinks that Bitcoin just kind of magically came out of nowhere, then it's pretty easy to see how they'd be inclined toward a conspiratorial assumption.

However, if one sees that, just like any other industry, there was a series of engineers building on each others' work until someone finally got it over the line, then it looks a lot more organic.

I agree with all of this. But I do think the CIA conspiracy theory has a couple of things going for it: (1) US government funding of Tor (it isn't above embracing freedom tech when it serves its purposes) and (2) the NSA's history of involvement in non-classified crypto to steer adoption toward weak ciphers.

While I don't seriously think the CIA invented Bitcoin, we *do* need to be aware that three-letter-agencies may be working to subvert it.

Bitcoiners need to be whole lot more skeptical when the government decides to "help". I'll leave folks to draw their own conclusions about how that applies to a "strategic bitcoin reserve" and other current foolishness…

TFW you're running a #Bitaxe

Unfortunately, he's still basically a Democrat. But at least he's the old kind of Democrat, from back when Democrats at least pretended to care about civil liberties (and Republicans pretended to care about government spending). Those were simpler times…

Well, I split the difference, because I have a new S21 to pay off on my credit card. ;)

Yup. This is why I'm bearish on both Trump and the ETFs. The best case scenario is that it gets co-opted… And "crypto" people will happily go along with it because NGU.

Really starting to get FOMO. Wish I didn't have so much work to do right now.

When? He's already said that he wants all the bitcoin mined in the US, revealing that he doesn't understand and/or care about decentralization.

And let's not even get started on his statist economic policies in general…

Replying to Avatar OceanSlim

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Any of this sound firmiliar to you?

Know who you're up against.

Here is a summary of the ten measures proposed in “The Communist Manifesto” by Karl Marx and Friedrich Engels:

1. Abolition of property in land and application of all rents of land to public purposes.

2. A heavy progressive or graduated income tax.

3. Abolition of all rights of inheritance.

4. Confiscation of the property of all emigrants and rebels.

5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.

6. Centralization of the means of communication and transport in the hands of the state.

7. Extension of factories and instruments of production owned by the state; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.

8. Equal liability of all to labor. Establishment of industrial armies, especially for agriculture.

9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equable distribution of the populace over the country.

10. Free education for all children in public schools. Abolition of children’s factory labor in its present form. Combination of education with industrial production

Not everything that sucks is "Marxist", even though everything that's Marxist sucks. Fiat money and centralized credit existed before Marx; mankind will still be trying this scam when Marx is a distant memory and we live on Mars. Shitcoiners gonna shitcoin.

Also this morning…

This morning's adventure was reflashing one of my Bitaxen that's been down for a week or so. That *almost* made me miss the days when men were men and computers had actual serial ports. Almost. ;)

Now I officially have a swarm!

"crash" 😂

I've never run the numbers, but my impression is that the bitcoin price pretty much moves along with the S&P 500, just with ~twice the magnitude. Funny how stocks can be down 1–2% the same day and I never hear about how the stock market is crashing… 🤨

I mean, it's supporting Trump or Biden in the first place that makes them "sheeple". Showing solidarity this way with someone you support who's just been shot at strikes me as no different than shaving your head when a friend is going through chemo.