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> Everything about Bitcoin is driven by emergent consensus. ...which is a fancy word for a speculative bubble.
by geezerjay 9y ago
> Everything about Bitcoin is driven by emergent consensus.
...which is a fancy word for a speculative bubble.
- Frogolocalypse 9y agoActually, what he was doing was explaining the concept of how nodes enforce nakamoto consensus in order to validate transactions. It had absolutely zero to do with valuation.
- sebastos 9y agoWell, yes, just like the emergent consensus that US dollars are worth real goods and services. Nothing is “worth” something unless people say it is. There are plenty of problems with Bitcoin as a currency, but the fact that its value is derived from speculation is not one of them. All currency is like this.