If you’re confused about why the world looks the way it looks, the world isn’t wrong. YOU are wrong. The course of the world, by definition, cannot be wrong.
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Replying to @Andrew___Morris
That is the most ridiculous argument I've ever heard. It can be used to support everything from Hitler to North Korea to terrorism.
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Replying to @marcan42
Not "moral", but the path of facts and events and adoption. There is no "wrong", only facts that are are wrong. It doesn't matter how right or wrong a system is, or how efficient it is, the way the world proceeds goes in one direction or another. That's it.
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Replying to @Andrew___Morris @marcan42
I'm going to borrow from
@IAmAdamRobinson here. Quote: "You hear all the time from ... investors and financial exports, that this trend or that "doesn't make sense". It "doesn't make sense" that the dollar keeps going lower or it "makes no sense" that stocks keep higher..."1 reply 0 retweets 1 like -
"...but whats really going on when an investor says something "makes no sense" is that they have a dozen or so reasons why the trend should be moving in the opposite direction, yet it keeps moving in the current direction, so they believe the trend "makes no sense""
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"...But what makes no sense is their model of the world. That's what doesn't make sense. The world ALWAYS makes sense, we just don't understand it."
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Replying to @Andrew___Morris @IAmAdamRobinson
This is a vacuous point. Of course I can rationalize reasons why Bitcoin became popular as it stands, the way it did. That doesn't change the fact that it makes zero engineering sense, or that it's stupidly inefficient and letting it get to this point was a stupid idea.
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Replying to @marcan42 @IAmAdamRobinson
¯\_(ツ)_/¯ I do agree that it's stupidly inefficient. I'd guess that most people are just excited that a peer-to-peer cash payment system exists where there was none before.
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Replying to @Andrew___Morris @marcan42
Guys let's be civil and playful here in exchanging ideas. Let's distinguish between speculative mania and engineering merits for starters.
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The run-up in bitcoin prices was not a reasoned reflection of bitcoin/blockchain any more than the recent collapse was a reasoned rejection.
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The speculation and exorbitant prices explain the power consumption, but not the lack of scalability. The latter is a constant, regardless of how the currency unit is priced. In fact, once the block reward drops below txn fees, the power consumption is unit-price-invariant too.
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