4 ms·
I commented something similar to this below - the true value of Bitcoin is that it was put on autopilot and took off - in the meantime, there is no record of wh
by ZguideZ 6y ago
I commented something similar to this below - the true value of Bitcoin is that it was put on autopilot and took off - in the meantime, there is no record of who the creator of it is - except a persona called Satoshi Nakamoto. It has been adopted widely enough that it cannot be shut down. It is decentralized, extra-governmental, and you can't sue or indict the founder or a centralized organization. Yes, bitcoin is code. Yes it is being used for the same purposes as fiat and banking. Yes it could certainly still use lots of adaptation. The simple matter that most people don't understand (yet) however is that Bitcoin is Anarchy.
- leadingthenet 6y agoIs it really "Anarchy" if it's essentially controlled by small a clique of miners with specialized hardware that most people don't have / can't realistically have access to?
- ZguideZ 6y agoTo the system as it exists? Absolutely.
- ZguideZ 6y agoThe misunderstanding about anarchy is that no one really knows what will come out of it.
- leadingthenet 6y agoHow? What I've described is closer to an oligarchy than it is to anarchy. So either you disagree with my initial description, or you disagree that that description matches something other than anarchy. Either way, I think you'll find either one of those a difficult argument to make.
- ZguideZ 6y agoOnly if you presuppose that the 'small clique of miners with specialized hardware' represents the same interests as the system that bitcoin is slowly starting to displace. Perhaps I should have specified anarchy to the system as it currently exists. It's a time bomb built and released to destroy the economic status quo.