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> Or is the idea that Bitcoin will be valuable again when the wealthy finally crawl out of their New Zealand bunkers and reestablish the financial system? The
by wyldfire 9y ago
> Or is the idea that Bitcoin will be valuable again when the wealthy finally crawl out of their New Zealand bunkers and reestablish the financial system?
The idea is that the transactions are irreversible and you cannot rely on any number of police officers or judges to fix a theft.
The bunkers are for security's sake, not preserving-wealth-in-an-apocalype's sake.
- pavlov 9y agoThe police officers and judges can put you in jail, which is generally worse than having your assets confiscated. I’m not sure how Bitcoin helps. What I’m trying to understand is how Bitcoin advocates’ promise of it being a store of value independent from governments can be valid when the system depends on extremely sophisticated infrastructure that was built and enabled by governments.
- TeMPOraL 9y ago> the system depends on extremely sophisticated infrastructure that was built and enabled by governments. ... and which continued existence and operation requires stable governments keeping most of the planet bound by the rule of law.