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> the ability to independently verify the money supply and being able to transfer money across political boundaries without censorship is probably the most impo
by joshspankit 6y ago
> the ability to independently verify the money supply and being able to transfer money across political boundaries without censorship is probably the most important intrinsic value one could hope for in a MoE/SoV
This is the (imo) fundamental intrinsic value of Bitcoin, and something that very few people seem to understand (or understand the value of).
- evouga 6y agoLet’s say Xi wakes up cranky (maybe somebody embeds criticism of him in the blockchain) and bans BTC throughout China. It is now illegal to operate an exchange, buy or sell Bitcoin, or run a Bitcoin node anywhere in China. ... now what? How do you “transfer money across political boundaries without censorship” into or out of China?
- joshspankit 6y agoIt’s also illegal to access many of the sites on this list (https://en.wikipedia.org/wiki/List_of_websites_blocked_in_mainland_China https://en.wikipedia.org/wiki/List_of_websites_blocked_in_ma...), but it still happens.
- Sargos 6y agoAre you not aware that China has already done that? Multiple times in fact.
- ashtonkem 6y agoI get it, I also understand that the legitimate demand for that is nowhere high enough to command such prices. If you’re a Venezuelan, then Bitcoin is great for you. But there aren’t that many Venezuelans, and it seems like most of the speculators are American.