The former faithless sort can be assuaged by making it so easy to deal with that the technical aspects are no longer concerning to them. Most people don't know how any other type of currency works either. The latter have power, and the only real threat to it is outlawing it.
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Replying to @The_Petrichory @HbdNrx
Outlawing it may Streisand-Effect it into true ubiquity and ensconce it as valid and essential. I think world powers know this, which is why most of them have avoided that unintended consequence.
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Replying to @The_Petrichory
What I really mean is that all current cryptocurrencies have a true price of zero and arguments that they should have valur are all circular. In contrast, fiat is backed by government force and its tax demands.
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Replying to @HbdNrx
That isn't quite true. The value is intangible, but not zero. What value does a stable currency unable to be monkeyed with by a banking cartel or state-cum-Mafia have to you? I think the answer is inherent in your first tweet in this thread.
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Replying to @The_Petrichory
Of course people can give anything value if they believe it has value, but why do people believe crypto has nonzero value? All answers to that question are circular.
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Replying to @HbdNrx
Not to get too Socratic, but tons of things have value upon which no monetary proxy seems to suffice. Beauty? Justice? One absolutely pays for these things in one way or another, but the far-reaching dividends of a functioning justice system are inscrutable and incalculable.
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Replying to @The_Petrichory
Good art is beautiful and I can buy it to put in my house. Is a bitcoin beautiful? Justice? Well, contracts and rights can be bought and sold. Is bitcoin a right to anything?
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Replying to @HbdNrx
A right to be free of hyperinflation and debasement. To be free of central banking. To be free of the back-door taxation that the mint *actually* represents to people. That is a thing of beauty, my friend. Beauty pure and mathematical.
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Replying to @The_Petrichory @HbdNrx
I'm not saying bitcoin itself is the stone to slay Goliath. But it might be. Whether it wins or something like it remains to be seen. But I am quite certain some form of crypto will, eventually.
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Replying to @The_Petrichory
I'm not sure what other forms crypto might take, which is why I said unbacked crypto. If the US government started taking taxes in crypto I'd call that a kind of backing, but why would they allow everyone to print more money by just running their computer?
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Maybe if the computations themselves were useful to the government?
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