Avatar
Robert Allen
813cf5bbaf675abb1ef2869cb55f69809bc93eab778f8c42365ec65e14bb4ec1
#Bitcoin Maximalist | ๐Ÿ‹๐Ÿผ | ๐Ÿฅฉ | โœ๏ธ | ๐Ÿง‘๐Ÿผโ€๐Ÿ’ป CEO Tirith Technology | Producer "Bitcoin & Friends" | Co-Founder Satlantis.io | Keys.Band NIP7 Extension | Jesus is Lord

I get that this is true on a protocol level, but why couldn't a client do this?

Women are so โ€œoppressedโ€ in the West that men are now putting on ridiculous clown costumes in a disgusting pantomime.

After writing some C++ and Go, I felt the same way. Yes, I think you are officially a Real Dev (TM).

Replying to Avatar Lyn Alden

I spoke at a big bitcoin-adjacent company this week and one of the best questions was from someone who asked what the downsides of bitcoin adoption might be.

I always do appreciate these steelman questions, the skeptical questions, the ones where we challenge ourselves. Only when we can answer those types of questions do we understand the concept that we are promoting.

So the classic example is that in modern economic literature, "deflation is bad". This, however, is only the case in a highly indebted system. Normally, deflation is good. Money appreciates, technology improves, and goods and services get cheaper over time as they should. Price of Tomorrow covers this well. My book touches on this too, etc. The "deflation is bad" meme is still alive in modern economic discourse and thus is worth countering, but I think in the bitcoin spectrum of communities, people get that deflation is fine and good.

My answer to the question was in two parts.

The first part was technological determinism. In other words, if we were to re-run humanity multiple times, there are certain rare accidents that might not replicate, and other commonalities that probably would. Much like steam engines, internal combustion engines, electricity, and nuclear power, I think a decentralized network of money is something we would eventually come across. In our case, Bitcoin came into existence as soon as the bandwidth and encryption tech allowed it to. In other universes or simulations it might look a bit different (e.g. might not be 21 million or ten minute block times exactly), but I think decentralized real-time settlement would become apparent as readily as electricity does, for any civilization that reaches this point. So ethics aside, it just is what it is. It exists, and thus we must deal with it.

The second part was that in my view, transparency and individual empowerment is rarely a bad thing. Half of the world is autocratic. And half of the world (not quite the same half) deals with massive structural inflation. A decentralized spreadsheet that allows individuals to store and send value can't possibly be a bad thing, unless humanity itself is totally corrupted. I then went into more detail with examples about historical war financing, and all sorts of tangible stuff. In other words, a whole chapter full of stuff. I've addressed this in some articles to.

In your view, if you had to steelman the argument as best as you could, what are the scenarios where bitcoin is *BAD* for humanity rather than good for it, on net?

Evil AI uses Bitcoin to take over the world and turns humans into batteries to power mining.

Chapala is worth a visit. #Mexico #travelstr

Twitter API changes messed it all up. It is still possible to make this work, but the API isn't free anymore.