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Sure, just one change... ”Currency is intended to transact with, not for speculation...” Bitcoin is forcing an expansion of the definition of money. A self-reg

Sure, just one change... ”Currency is intended to transact with, not for speculation...” Bitcoin is forcing an expansion of the definition of money. A self-regulated financial network backed by tremendous amounts of hardware and electricity is "advanced money". We are at a transition point so I don't expect good labeling/categorization from the shortsighted/incumbents/fiat-boomers (directed at the gatekeepers, not you personally). Side note: What people complaining about electricity consumption don't get is, BTC transfers the uncounterfeitable properties of energy to a money.

notahacker 6y ago
Sorry, the English language is distributed consensus based, and so you don't get to torture it into redefining money as "digital tulip bulbs" or condescendingly dismiss people using the term correctly until you have the numbers to mount a 51% attack. :) Side note: what people don't get is that pretending tokens have more exchange value because more energy was expended than the printing of other tokens is just sunk cost fallacy.
- bingbong70 6y ago
  The distinction between money and currency is not up for debate, it is settled. >BTC transfers the uncounterfeitable properties of energy to a money. This statement has a lot more depth than you seem to appreciate. I believe this is from a lack of understanding of BTC's incentive structure. Perhaps a few years from now you will gain enough of an understanding...Almost every thinking-person was in the position you are in (skeptic) at some point before an extended education and eventual full BTC adoption. The sooner you get this education the better for your family, so I recommend diving deep sooner than later, even if you still end up as a "nocoiner". Final Note: I expect clean energy regulations and BTC's hunger for hashrate will create a larger (more direct) market for cleaner energy and faster processing, which is a win-win for humanity. "More Direct Market" clarification: Selling clean electricity to a power grid is much harder than selling it to the BTC network, especially in remote areas. The ability to easily monetize energy production on small/mid/large scales makes experimentation and innovation more likely. Example: Many facilities now mine Bitcoin with otherwise flared waste gas and the controlled burn actually leads to less negative environmental impact.

notahacker 6y ago

Sorry, the English language is distributed consensus based, and so you don't get to torture it into redefining money as "digital tulip bulbs" or condescendingly dismiss people using the term correctly until you have the numbers to mount a 51% attack. :) Side note: what people don't get is that pretending tokens have more exchange value because more energy was expended than the printing of other tokens is just sunk cost fallacy.

bingbong70 6y ago
The distinction between money and currency is not up for debate, it is settled. >BTC transfers the uncounterfeitable properties of energy to a money. This statement has a lot more depth than you seem to appreciate. I believe this is from a lack of understanding of BTC's incentive structure. Perhaps a few years from now you will gain enough of an understanding...Almost every thinking-person was in the position you are in (skeptic) at some point before an extended education and eventual full BTC adoption. The sooner you get this education the better for your family, so I recommend diving deep sooner than later, even if you still end up as a "nocoiner". Final Note: I expect clean energy regulations and BTC's hunger for hashrate will create a larger (more direct) market for cleaner energy and faster processing, which is a win-win for humanity. "More Direct Market" clarification: Selling clean electricity to a power grid is much harder than selling it to the BTC network, especially in remote areas. The ability to easily monetize energy production on small/mid/large scales makes experimentation and innovation more likely. Example: Many facilities now mine Bitcoin with otherwise flared waste gas and the controlled burn actually leads to less negative environmental impact.