This is why Bitcoin is pernicious, it's a meaningless token with *no underlying value* and *no legal rights or guarantees bestowed on the holder* And it does not *store* energy or *contain* energy the way ridiculous statements like this imply it does It simply *uses* energy
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Replying to @arthur_affect @Tom_Scribbler and
"legal rights" - which legislation? Why would I need legal rights bestowed on me? This universe gave us unbreakable uncensorable asymmetric encryption. Across time and space, and fluctuating legislations. What is the underlying value of USD?
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Replying to @BitcoinBiology @Tom_Scribbler and
https://www.law.cornell.edu/uscode/text/31/5103 … Come on Mr. Economist, this is basic shit
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Replying to @arthur_affect @Tom_Scribbler and
what happened to the gold standard then ? what good is this promise outside of the USA?
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Replying to @BitcoinBiology @Tom_Scribbler and
We stopped using the gold standard because fiat currency is better Being backed by the laws of the government of the country you live in is, in fact, the strongest thing any currency can be "backed by"
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Replying to @arthur_affect @Tom_Scribbler and
*that is if you think the laws of the government are greater than the laws of nature
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Replying to @BitcoinBiology @Tom_Scribbler and
"Value" does not exist as a concept in nature, it is a concept that can only be defined and created by human beings
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Replying to @arthur_affect @Tom_Scribbler and
well so then you can make value out of thin air after all
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Replying to @BitcoinBiology @Tom_Scribbler and
You can! Isn't it amazing?
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Replying to @arthur_affect @BitcoinBiology and
The hilarious thing is that this is clearly what Bitcoin is It doesn't do any work, it doesn't produce any material goods, it doesn't make anyone's life better It only has value because a bunch of nerds hate the government and are in a weird cult
4 replies 7 retweets 51 likes
But because of that weird cult, bang! Magic! Hundreds of thousands of dollars of "value" where there was none before! It's like Beanie Babies only without the cuteness
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Replying to @arthur_affect @BitcoinBiology and
BRB inventing a new currency based on shoveling Beanie Babies into a massive furnace.
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Replying to @Tom_Scribbler @arthur_affect and
I mean, my current retirement plan is based on selling Beanie Babies to Bitcoin nerds after the inevitable crash ("Hey look! Tangible assets! Mothballs included!") so yeah, drive them prices up.
0 replies 0 retweets 6 likes
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