🐈

however... when btc 'goes to the moon' is that a real rocket launch or is it a bubble? similar to mar's perseverance, the final result is mostly artistic value in the preset with potential scientific value in the future.

uber/airbnb have demonstrated their value, even if it turns out it may be much lower than their prices at their height of social hotness. what is bitcoin's?

IMO bitcoin has theoretically infinite value because it is about signaling. this signaling is 'worthless' from a practical standpoint but is priceless from a coordination/symbolic/faith standpoint. the king is just a hooman yes, but kill the king, and REAL anarchy happens.

the issue w/ signaling is that just like fashion, it is capricious and easily supplanted. attention is THE most scarce thing in the world. it cannot be easily commoditized.

(or can it? it seems pretty easy to throw money at individuals in china and india and get all sorts of attention. buy followers. buy reviews. buy opinions. etc...)

bitcoin then is not about hooman attention but about a subset of hooman attention. it's an attention coordination mechanism for those who believe in bitcoin. (who themselves believe that they are "The Attention of the FREE and the SOVEREIGN")

note the similarity to the USD here. as the land of the Free Sovereigns, their token of faith has unusual weight in the lands of the oppressed.

(there's a correlation between Power and Freedom that would explain why these Freedom Coins are important but there may be a spiritual aspect as well. the desire for "Freedom" seems to be the apex of hooman desires, underpinning all religious/spiritual/secular endeavors)