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MustStopMurad's profile
Murad Mahmudov 🚀
Murad Mahmudov 🚀
Murad Mahmudov  🚀
@MustStopMurad

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Murad Mahmudov  🚀

@MustStopMurad

Cryptocurrency Analyst. Bitcoin, not Blockchain. Angel Investor. Previously @Princeton.

New York, NY
Joined March 2017

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    1. Paranoid Bull‏ @paranoidbull Sep 26

      Paranoid Bull Retweeted Katherine Wu

      I wish there were signs of... Burning cash, coal and silicon to make fictitious digital money.https://twitter.com/katherineykwu/status/1045059356994269184 …

      Paranoid Bull added,

      Katherine Wu @katherineykwu
      Just had the chance to skim the (400+ page) Bitmain IPO document. Some interesting stats: + In the first half of 2018, Bitmain’s revenue was $2.845 billion, with a net profit of $1.123 billion. 95% of revenue comes from the sale of 2.56 million (!!) mining rigs. More below ⬇️ pic.twitter.com/8UyKHJOvfk
      Show this thread
      1 reply 1 retweet 4 likes
    2. Rhéal‏ @armor123123 Sep 26
      Replying to @paranoidbull

      Not very "fictitious" to the people fleeing Venezuela with their life savings stored in it.

      1 reply 0 retweets 1 like
    3. Paranoid Bull‏ @paranoidbull Sep 26
      Replying to @armor123123

      It literally is made up fictional currency. The fact it is better than Fiat in many cases simply shows how bad things are with Fiat.

      2 replies 0 retweets 2 likes
    4. Murad Mahmudov  🚀‏ @MustStopMurad Sep 26
      Replying to @paranoidbull @armor123123

      It is no more, or less, fictitious than Fiat, Gold, Shells or Salt. Fiat is “forced money” while Gold and Bitcoin are “natural money”.

      1 reply 0 retweets 2 likes
    5. Paranoid Bull‏ @paranoidbull Sep 26
      Replying to @MustStopMurad @armor123123

      Wrong. It is literally a fictional idea made up be a pseudonymous hacker. The fact this fiction is believed as much as fiat backed by actual governments says as much about fiat as it does it. Gold is a tangible rock. From the ground. Not a fictional idea.

      2 replies 0 retweets 1 like
    6. Murad Mahmudov  🚀‏ @MustStopMurad Sep 26
      Replying to @paranoidbull @armor123123

      The monetary premium assigned to Gold isn’t assigned to it due to its physicality, but rather it’s high stock-to-flow ratio. Any other money-form with a higher stock-to-flow ratio can prove to be superior to Gold, it’s irrelevant whether it’s tangible or not.

      1 reply 0 retweets 1 like
      Murad Mahmudov  🚀‏ @MustStopMurad Sep 26
      Replying to @MustStopMurad @paranoidbull @armor123123

      For millenia prior to 1971, base money was a creature of the market, not a creature of the state.

      6:37 PM - 26 Sep 2018
      • 1 Like
      • Rhéal
      1 reply 0 retweets 1 like
        1. New conversation
        2. Paranoid Bull‏ @paranoidbull Sep 26
          Replying to @MustStopMurad @armor123123

          Fiat has always been issued by governments even if defined by other things. Gold is a physical reality. What is wrong with fictional things becoming believed?

          1 reply 0 retweets 0 likes
        3. Murad Mahmudov  🚀‏ @MustStopMurad Sep 26
          Replying to @paranoidbull @armor123123

          My point is, the “physical reality” part doesn’t matter. Money doesn’t have to be physically tangible. Nor does it have to be backed by the State.

          1 reply 0 retweets 1 like
        4. Paranoid Bull‏ @paranoidbull Sep 26
          Replying to @MustStopMurad @armor123123

          Then you AGREE with me. Fiction is more powerful than reality.

          2 replies 0 retweets 1 like
        5. Paranoid Bull‏ @paranoidbull Sep 26
          Replying to @paranoidbull @MustStopMurad @armor123123

          The fact that billions of fiat, coal and silicon are being annihilated at the altar of a fiction upon a fiction is absolutely an example of the annihilation of the Fiat System itself.

          0 replies 0 retweets 1 like
        6. End of conversation

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