The apocalyptic impulse keeps popping up again and again in Silicon Valley (remember the Singularity?) and shows the true contempt the tech elite has for institutions and democracy. Step 1 is always to sweep away the old and do a ground-up rewrite of society
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Pinboard Retweeted Jody Shenn
This is a great accelerationist point! The only practical achievement of cryptocurrency in its 13 years of existence has been to make ransomware a tenable industrial pursuithttps://twitter.com/JodyShenn/status/1392196349291110407 …
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Step 1: create an alternative form of money to do all the crime Step 2: crime causes systemic collapse Step 3: everything works out somehow
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Pinboard Retweeted
Another excellent point. There is a general phenomenon of flattening going on, where people can't understand that there is a massive distance between mild social dysfunction and some Max Max existence, or between an authoritarian turn and full-on fascism. https://twitter.com/ParetoOptimizer/status/1392196314969083907 …
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We'd all be better off if the tech industry were led by a country like Argentina or Lebanon, that has in its recent history experienced points all along this spectrum and as a result has a lot more chill. Instead people are panicking over a line at a gas station.
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Pinboard Retweeted Alex Gladstein 🌋
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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Alex Gladstein 🌋Verified account @gladsteinReplying to @PinboardThe “tech elite” doesn’t control Bitcoin. It’s neutral, open, borderless technology with no special rules for the rich. It is a powerful human rights tool to defend against authoritarianism + kleptocracy. Anyone w/ internet can access it today. Ultimately it threatens the elite.9 replies 57 retweets 260 likesShow this thread -
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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Replying to @Pinboard
You do realize these pools are powered by miners distributed all over the world I hope. Because it seems you think the headquarters of a pool is the actual location of the miner. This is a noob mistake.
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Replying to @MichaelPasture
Super comfortable asserting that Chinese pools are based in China
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Replying to @Pinboard @MichaelPasture
I think you said up there that China specifically “mines 3/4”. Not trying to prove a point just an observation. Maybe pools and mining are the same thing? Not sure
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I understand the distinction between pools and miners, but my understanding is that Chinese pools in fact consist of Chinese miners
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Replying to @Pinboard @JonStro43933750
They don’t. At least not entirely.
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You understand wrong
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