You got it Mike. Bitcoin is absolutely for fascists. It is for the libertarian mindset - for people who want to make something from nothing, to divide us all and conquer the other side. It pretends in some ways to be a currency. As an alternative to the US dollar, to other countries’ currencies? And yet it offers no stability. Currency without stability is speculation.Bitcoin will always be speculative. Ironically if it reaches stability it will no doubt lose attractiveness and then ultimately further fall in value. And yes “a pyramid scheme of nothingness”, no more value than 🌷 tulips.
Yep. And ironically all the people I know who love bitcoin, love it because it's supposedly free from regulation and taxes. F-ing idiots. Bitcoin can only exist because we have those things, and we have those things for a reason.
Don’t worry. I can smell the doubt behind your words. I can feel the petulance reaching out, hoping to get me to question myself. To make me think: maybe I don’t understand what I’m saying. I can see the gaslighting. Clearly.
I mean, I have no need in this moment to quickly send money across the world. How much do you do this? Do you do it more often than the innumerable other things in your life, for which tedium could give way to convenience? Why is this the thing I should care about more than the things I laid out in my post? Answer that question, and I might begin to take you seriously.
Agreed. Given all the scams, drugs, guns, human suffering, political manipulation, greed and generally anti social things crypto is responsible for, all you've got is speed? I mean, I use my Visa card overseas. It's pretty much instant. Why are bitbros so obsessed with transaction speed? Because that's about all blockchain can offer - along with burning ridiculous amounts of power, "mining" (as if it's an actual thing) pixie dust.
I have coworkers with family in Venezuala and the Philippines for ex. They send money to family regularly. They can send western union and pay fees on each end with a 500 max, or they can send bitcoin.
I am happy for you. I am. I am also happy for human rights activists who use it to defend against de-banking by authoritarian regimes. But one must take stalk of the society-level and civilizational-scale implications. Which libertarians and anarchists don't. Which is why most bitcoin advocates are libertarians and anarchists.
You-know, unless you're running pig butchering scams, sex trafficking, selling drugs, weapons or bypassing international norms and laws. Then you might want to move money quickly across the world, without oversight, bypassing the IBAN system which is quite capable of transferring money, quickly, legally.
pushed by the same people who say 'Taxation is Theft' while lobbying with all of their wealth to get government contracts for their new ventures. Ask any one of them if they think the average Isreali Citizen should be as free of the obligation to pay taxes as them. Israel would cease to exist in a week. And these people see large year over year growth in their investment portfolios based on Isreali government defense spending. it's a Con!!!
It’s not that deep. It’s a greater fool scheme. They’re desperate for it to have value because they wanna get rich. But it’s never had a use case besides crime because it’ll never have a use case besides crime. They don’t grasp (or don’t care to grasp) what it means to be a currency or an investment. So they claw desperately at any reason for existence.
Good on Bitcoin and on target with Mises, but you missed it with Hayek who supported a guaranteed national income because the market process eroded the informal networks that protected people from adversity.
Just another Ponzi scheme, you know, like stock and bond trading. I just watched it fall from 125K to 80K, so a rapid 45K sell off and gamblers come one and come all to "get in" at a bottom so some other suckers can build up your value for you and all while you aren't lifting a damn finger. Phoey!
I view Bitcoin similarly. Thank you for connecting many of the dots in this dangerous (and disingenuous) game of digital currency. As a practical matter, I assume anything the T Rump family gets involved in is actually nothing more than a grift.
the fact that the valley got tricked into supporting fascism because they were promised they could get rich quick says a lot about the rot at the core of the american experience.
i like to put it a bit more poetically and say things like "Cryptocurrency Is A Hideous Monstrosity Made Out Of Computers And Greed That Is About To Devour The World"
That is quite an interesting take on Bitcoin, Mike. I've been fooling around with crypto currencies for some time now and what really captured my interest was Vitalik Buterin and Ethereum. I'd love to hear your take on Ethereum. It seems the ethos around Ethereum is much different than what has become of Bitcoin and Bitcoin Maximalists.
Ethereum requires more trust but its different gamification. Ultimately Bitcoin birthed them all.
There is nothing wrong with Bitcoin too. Think about it...its logical. Compute, storage have gotten cheaper, network increased. Then decentralised computing is logical thing to play with.
As a woke guy myself, I completely understand the sentiment, especially after how fascists/libertarians/magas/rightwingers appropriated the bitcoin brand, so to speak. But bitcoin is for everyone, and the aspect of it that you seem to hint to be oligarchyish will stop being true once the middle and lower classes wake up and decide to earn bitcoin instead of earn fiat. And after that happens, fiat money will disappear and saving it won't accrue you higher levels of purchasing power anymore. You're just angry at how this phase of bitcoin adoption looks like: hoarders beat workers, which is definitely heartbreaking, I'm with you. But not for long my friend.
Bitcoin IS “FIAT CURRENCY.” Private Fiat currency. Instead of “the full Faith and credit of the United States,” you have the full Faith and credit of? The Blockchain? The algorithms???
LibertariCons want you to hate everything GUBMINT and want and expect all governments to fail creating some Libertarian paradise. You might as well invest in money printed by THE JOKER. Because once private individual trillionaires get to decide what constitutes MONEY.
Duhhhh! Of course it’s a lie. It’s a pyramid scheme of nothingness.
This is definitely the Age of Ironic Unattachment. What George Orwell warned about.
You got it Mike. Bitcoin is absolutely for fascists. It is for the libertarian mindset - for people who want to make something from nothing, to divide us all and conquer the other side. It pretends in some ways to be a currency. As an alternative to the US dollar, to other countries’ currencies? And yet it offers no stability. Currency without stability is speculation.Bitcoin will always be speculative. Ironically if it reaches stability it will no doubt lose attractiveness and then ultimately further fall in value. And yes “a pyramid scheme of nothingness”, no more value than 🌷 tulips.
Yep. And ironically all the people I know who love bitcoin, love it because it's supposedly free from regulation and taxes. F-ing idiots. Bitcoin can only exist because we have those things, and we have those things for a reason.
Show me an easier, quicker way to send and receive money across the world.
Don’t worry. I can smell the doubt behind your words. I can feel the petulance reaching out, hoping to get me to question myself. To make me think: maybe I don’t understand what I’m saying. I can see the gaslighting. Clearly.
You say that like, that's the most important thing.
Its not important?
I mean, I have no need in this moment to quickly send money across the world. How much do you do this? Do you do it more often than the innumerable other things in your life, for which tedium could give way to convenience? Why is this the thing I should care about more than the things I laid out in my post? Answer that question, and I might begin to take you seriously.
you, the one single person, has no need, so let's extrapolate that haha - shows your LOW IQ
I dream of one day possessing your capacity for intellectual discernment.
Agreed. Given all the scams, drugs, guns, human suffering, political manipulation, greed and generally anti social things crypto is responsible for, all you've got is speed? I mean, I use my Visa card overseas. It's pretty much instant. Why are bitbros so obsessed with transaction speed? Because that's about all blockchain can offer - along with burning ridiculous amounts of power, "mining" (as if it's an actual thing) pixie dust.
Hiring freelancers?
I have coworkers with family in Venezuala and the Philippines for ex. They send money to family regularly. They can send western union and pay fees on each end with a 500 max, or they can send bitcoin.
I am happy for you. I am. I am also happy for human rights activists who use it to defend against de-banking by authoritarian regimes. But one must take stalk of the society-level and civilizational-scale implications. Which libertarians and anarchists don't. Which is why most bitcoin advocates are libertarians and anarchists.
No.
You-know, unless you're running pig butchering scams, sex trafficking, selling drugs, weapons or bypassing international norms and laws. Then you might want to move money quickly across the world, without oversight, bypassing the IBAN system which is quite capable of transferring money, quickly, legally.
pushed by the same people who say 'Taxation is Theft' while lobbying with all of their wealth to get government contracts for their new ventures. Ask any one of them if they think the average Isreali Citizen should be as free of the obligation to pay taxes as them. Israel would cease to exist in a week. And these people see large year over year growth in their investment portfolios based on Isreali government defense spending. it's a Con!!!
It’s not that deep. It’s a greater fool scheme. They’re desperate for it to have value because they wanna get rich. But it’s never had a use case besides crime because it’ll never have a use case besides crime. They don’t grasp (or don’t care to grasp) what it means to be a currency or an investment. So they claw desperately at any reason for existence.
Good on Bitcoin and on target with Mises, but you missed it with Hayek who supported a guaranteed national income because the market process eroded the informal networks that protected people from adversity.
Just another Ponzi scheme, you know, like stock and bond trading. I just watched it fall from 125K to 80K, so a rapid 45K sell off and gamblers come one and come all to "get in" at a bottom so some other suckers can build up your value for you and all while you aren't lifting a damn finger. Phoey!
I view Bitcoin similarly. Thank you for connecting many of the dots in this dangerous (and disingenuous) game of digital currency. As a practical matter, I assume anything the T Rump family gets involved in is actually nothing more than a grift.
The issue is you cannot ban it.
You can regulate it but Democrats did nothing when they had the chance.
Gensler did some inappropriate stuff and courts threw his SEC rulings out.
If you want to ban it you have sacrifice some liberties like encryption and many more. Its not worth it.
bitcoin has always been a fascist project, basically from the jump but definitely since around 10 years ago. David Golumbia even wrote a whole book about this way back in 2016: "The Politics of Bitcoin: Software as Right-Wing Extremism": https://www.amazon.com/Politics-Bitcoin-Right-Wing-Extremism-Forerunners/dp/1517901804
the fact that the valley got tricked into supporting fascism because they were promised they could get rich quick says a lot about the rot at the core of the american experience.
i like to put it a bit more poetically and say things like "Cryptocurrency Is A Hideous Monstrosity Made Out Of Computers And Greed That Is About To Devour The World"
https://cryptadamus.substack.com/p/cryptocurrency-is-a-hideous-monstrosity
That is quite an interesting take on Bitcoin, Mike. I've been fooling around with crypto currencies for some time now and what really captured my interest was Vitalik Buterin and Ethereum. I'd love to hear your take on Ethereum. It seems the ethos around Ethereum is much different than what has become of Bitcoin and Bitcoin Maximalists.
Ethereum requires more trust but its different gamification. Ultimately Bitcoin birthed them all.
There is nothing wrong with Bitcoin too. Think about it...its logical. Compute, storage have gotten cheaper, network increased. Then decentralised computing is logical thing to play with.
Hiring freelancers?
As a woke guy myself, I completely understand the sentiment, especially after how fascists/libertarians/magas/rightwingers appropriated the bitcoin brand, so to speak. But bitcoin is for everyone, and the aspect of it that you seem to hint to be oligarchyish will stop being true once the middle and lower classes wake up and decide to earn bitcoin instead of earn fiat. And after that happens, fiat money will disappear and saving it won't accrue you higher levels of purchasing power anymore. You're just angry at how this phase of bitcoin adoption looks like: hoarders beat workers, which is definitely heartbreaking, I'm with you. But not for long my friend.
Bitcoin is going to crash when this market bubble pops. Know this.
Bitcoin IS “FIAT CURRENCY.” Private Fiat currency. Instead of “the full Faith and credit of the United States,” you have the full Faith and credit of? The Blockchain? The algorithms???
LibertariCons want you to hate everything GUBMINT and want and expect all governments to fail creating some Libertarian paradise. You might as well invest in money printed by THE JOKER. Because once private individual trillionaires get to decide what constitutes MONEY.
YOU AIN’T GETTING ANY.
I think you should talk to Ben Mackenzie he made awesome movie called Everyone Is Lying to You for Money .
https://www.keithbishopbooks.com/post/2018/03/26/bitcoin-can-shock-the-world-a-study-of-the-popular-mind. When I published this 8 years ago, I never considered the concept that Bitcoin’s failure could lead to the demise of trust in the equity markets. Could that be the case today? And for years now I’ve considered Bitcoin “fools gold.”