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HbdNrx's profile
🐸 hbd nrx 🐸
🐸 hbd nrx 🐸
 🐸 hbd nrx  🐸
@HbdNrx

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 🐸 hbd nrx  🐸

@HbdNrx

Free speech activist. Darwinian reactionary. Gnon partisan. Frogs = implicit white identity. #humanbiodiversity

Moscow, ID
Joined August 2014

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    1.  🐸 hbd nrx  🐸‏ @HbdNrx Sep 6
      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.

      3 replies 0 retweets 2 likes
    2.  🍂 The Petrichory  🍄‏ @The_Petrichory Sep 6
      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.

      1 reply 0 retweets 1 like
    3.  🐸 hbd nrx  🐸‏ @HbdNrx Sep 6
      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?

      1 reply 0 retweets 2 likes
    4.  🍂 The Petrichory  🍄‏ @The_Petrichory Sep 6
      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. 😁

      1 reply 0 retweets 2 likes
    5.  🍂 The Petrichory  🍄‏ @The_Petrichory Sep 6
      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.

      1 reply 0 retweets 2 likes
    6.  🐸 hbd nrx  🐸‏ @HbdNrx Sep 6
      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?

      3 replies 0 retweets 2 likes
    7. ⠇⠝⠝‏ @archaeofuturist Sep 6
      Replying to @HbdNrx @The_Petrichory

      You're fundamentally not seeing what backs bitcoin - it's the network and the millions of MW/h it consumes that back up the scheme. All money is more or less a proxy for energy (food, fuel, heat, etc), and bitcoin is the least abstracted.

      3 replies 0 retweets 2 likes
    8.  🍂 The Petrichory  🍄‏ @The_Petrichory Sep 6
      Replying to @archaeofuturist @HbdNrx

      And in that "network" is a really weird promise. It's a democratized currency where the only way to cheat is to muster >50% of computing power in order to become the arbiter of the truth. And succeeding at that only to turn around and cheat people destroys its value instantly.

      2 replies 0 retweets 1 like
    9. ⠇⠝⠝‏ @archaeofuturist Sep 6
      Replying to @The_Petrichory @HbdNrx

      This is why the "millions of megawatts" is a feature not a bug, you need to control 51% of those millions of megawatts to attack the network successfully, and that's a tall order even for a nation state.

      1 reply 0 retweets 1 like
    10.  🍂 The Petrichory  🍄‏ @The_Petrichory Sep 6
      Replying to @archaeofuturist @HbdNrx

      Once one fully grasps what it was that "Satoshi" did, one can only stand back in awe of it. Quite possibly the most important human in history, and nobody knows who he is but himself.

      1 reply 0 retweets 0 likes
       🐸 hbd nrx  🐸‏ @HbdNrx Sep 6
      Replying to @The_Petrichory @archaeofuturist

      This is all just mass misunderstanding of monetary theory

      11:22 AM - 6 Sep 2018
      1 reply 0 retweets 0 likes
        1. New conversation
        2. ⠇⠝⠝‏ @archaeofuturist Sep 6
          Replying to @HbdNrx @The_Petrichory

          Much current monetary theory is just made the fuck up, so I don't see how this is even remotely relevant.

          1 reply 0 retweets 0 likes
        3.  🐸 hbd nrx  🐸‏ @HbdNrx Sep 6
          Replying to @archaeofuturist @The_Petrichory

          All cryptocurrencies are inherently worthless and will rather soon go to their true value of zero

          2 replies 1 retweet 2 likes
        4. Lex Corvus ♔‏ @LexCorvus Sep 6
          Replying to @HbdNrx @archaeofuturist @The_Petrichory

          “Inherent value” is irrelevant. You’ve forgotten your Menger and your Moldbug. https://www.unqualified-reservations.org/2013/04/bitcoin-is-money-bitcoin-is-bubble/ …

          1 reply 0 retweets 9 likes
        5.  🐸 hbd nrx  🐸‏ @HbdNrx Sep 6
          Replying to @LexCorvus @archaeofuturist @The_Petrichory

          He's wrong, sorry.

          1 reply 0 retweets 1 like
        6. Lex Corvus ♔‏ @LexCorvus Sep 6
          Replying to @HbdNrx @archaeofuturist @The_Petrichory

          Moldbug was wrong (so far) about his prediction that USG would kill Bitcoin, but his (and Menger’s) monetary theory is sound. The subject is a keen interest of mine, so I would be happy to answer any questions you might have about it.

          1 reply 0 retweets 3 likes
        7. Lex Corvus ♔‏ @LexCorvus Sep 6
          Replying to @LexCorvus @HbdNrx and

          BTW, I talked with MM last year about his failed prediction. He said he’d underestimated the extent to which USG bureaucrats would leave Bitcoin alone out of fear that they’d be blamed for killing the Next Big Thing. In other words: CYA saved BTC from USG.

          0 replies 0 retweets 5 likes
        8. End of conversation

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