Look at all that productivity in Venezuelapic.twitter.com/xipCpO1BUu
Mad genius, comedian, actor, and freelance voiceover artist broadcasting from the distant shores of Lake Erie (he/him)
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Look at all that productivity in Venezuelapic.twitter.com/xipCpO1BUu
That does not address the point. The purpose of money is to represent the productive force in society. What do you think happens when you link that to 'true scarcity'?
Austrian vs Keynesian debates are not my thing.
Good question to ask @saifedean or @stephanliverahttps://mises.org/library/deflation-and-liberty-1 …
To be honest I don't care about either definition of money based on norms and definitions of society. I'm a scientist, and the universal currency of this universe is energy. Bitcoin is backed by pure energy stored in unbreakable asymmetric encryption. laws of nature
This is false Bitcoin is not "backed by energy" in the sense that other currencies are backed by gold You cannot take your Bitcoin and trade it back for energy -- a BTC does not entitle you to the megawatt-hours of the ton of coal it took to mine it It entitles you to nothing
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
Every new Bitcoin mined and every Bitcoin transaction *burns up stored physical energy* that is irretrievably lost and can never be used again as a result Second Law of Thermodynamics, Mr. Scientist -- all it does is rapidly increase the entropy of the system
₿itcoin ₿iohazard, protocol supremacist 🧬 🔬 ☣️ 🐝 🔑 Retweeted Jack Mallers
What percentage of Bitcoin mining is renewable energy? Find and industry that has a higher percentage. Speaking of entropy, have you found out how to safely and securely send $1M overseas? If you have, you may say these are problems of the rich. Until L2https://twitter.com/JackMallers/status/1346866335536582656 …
₿itcoin ₿iohazard, protocol supremacist 🧬 🔬 ☣️ 🐝 🔑 added,


http://global.strike.me
https://link.medium.com/sjGTCBNyPcb pic.twitter.com/oDA13npo3MRight, nobody could safely and securely send money overseas before Bitcoin, international transactions of any kind were a terrifying gamble until 2017 or so Dear God listen to yourself
It's more about being able to send money w/o using a custodian or third party. The cost to transport gold is far far higher. Fiat can be clawed back or amended centrally. Missing the point of how and why bitcoin is cheaper.
I am, because it is, in fact, not cheaper
Very few people in a position to send or receive $1 million share your hilarious paranoia about the government seizing it from you, and the ones for whom that paranoia is justified and Bitcoin has a genuine use case are not people who have my sympathy
Ok, so how about me sending $50k to my sister overseas. It took 14 days to complete the transaction, having my account frozen and numerous phone calls with different banking institutions. And we both live in democratic western countries. Not even mentioning the horrendous fees...
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