This is my favorite kind of derptopianism. The total collapse of society will finally let us transition to a technology that requires ubiquitous connectivity, extraordinary power consumption, transnational high-tech supply chains, and can handle 10 transactions a minute. https://twitter.com/balajis/status/1392190984910360576 …
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Yes, Bitcoin is a powerful human rights tool to defend against authoritarianism and kleptocracy. That explains why 2/3 of this decentralized freedom currency is mined in China, with more than half of that just in Xinjiang—they need it there the most!https://twitter.com/gladstein/status/1392205251625639938 …
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Correction: I said China mines 2/3 of Bitcoin; the correct figure is in fact 3/4, according to a study out last month. Pinboard regrets the error. https://www.nature.com/articles/s41467-021-22256-3.pdf …pic.twitter.com/3bASxFiBYh
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In fairness to
@balajis, I have to concede his point that crypto doesn't require the internet. Bitcoin has an adaptive difficulty parameter that (after the bombs fall) will drop until it becomes profitable to hash with goose quills by candlelight https://twitter.com/balajis/status/1392197512568578048 …This Tweet is unavailable.Show this thread -
Here's the context for this thread, since the VC I was responding to couldn't handle some mild zingers about his toy money:pic.twitter.com/XNq1DGBFHs
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End of conversation
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We would be better off if we let entrepreneurs run their company and let the market decide which companies are worth it. Not with these equality destroying bailouts.
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People in Argentina love bitcoin. Be careful what you wish for.
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extraordinary
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Ok but I’m all fairness do you (or anyone) know what it looks like when a Democratic and capitalist/free market superpower collapses under its own weight?
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