The End of My Childhood

Re:The End of My Childhood by roenxi on Wednesday January 31, 2024 @11:07PM (#39212621)

Crypto overall, including Bitcoin, have bunch of intrinsic properties. A lot of people just don't want to recognise them. It puts me in mind of the Sovereign citizen movement, and I expect it'll work just as well for them vs crypto as it did for the SovCits vs the US government.

* Can only pull new bitcoin into existence by paying a hefty market-determined price.

* Can transfer them iff you know a certain secret.

* Can verify that a certain number of bitcoin are linked to a specific secret.

* Can technically transfer bitcoin without approval from a legally blessed 3rd party

There is no asset outside of crypto with those properties. Turns out that combination is worth, so far, billions. Probably more as it settles in and people get used to the idea. Will Bitcoin last forever like gold? No. Will it last long enough? Looks like it. Is crypto valuable? Judgement is in, market says yes.

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Re:The End of My Childhood by bemusedthrow75 on Thursday February 01, 2024 @08:16AM (#39215602)

I also think Bitcoin and crypto generally have a lot in common with the sovereign citizen movement. But I think where you and I differ is that I think that’s a uniformly bad thing.

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