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Regardless of where you stand as far as the ideological/financial/economic/technological goals of Bitcoin as described in Satoshi’s original paper, it’s definit
by Robotbeat 6y ago
Regardless of where you stand as far as the ideological/financial/economic/technological goals of Bitcoin as described in Satoshi’s original paper, it’s definitely a real nerd-snipe, and before you know it, you are intellectually and financially invested in it. And then there’s no avoiding the natural human tendency to rationalize that decision. :)
Of course, rationalizing works both ways with sour grapes! But I still think greed is a stronger motivator than envy. :)
- Robotbeat 6y agoRelated to this, I actually think one of the best critiques of Bitcoin is by Elon Musk. He’s rich enough to not care as much about not having bought in early and has significant experience with financial systems. Also, it’s funny because a large part of the Chattering class (which includes me because I’m on Twitter and the author of this article) seem to think he’s somehow a Bitcoin champion. He makes solid arguments as to why Dogecoin, a joke alt-coin, has some technical features that legitimately make it an improvement on Bitcoin. I don’t agree with him on hating fiat currency, but it’s a good critique. Regarding fiat with Fed-like policies, it’s actually a feature that those who would hoard fiat cash sort of low level hate it because they know it’s somewhat inflationary and so they look for better places to put it... The idea being that they should put it to productive use by hiring people and/or investing in efficiency-improving/labor-saving capital equipment or whatever. (Of course, plowing it into Bitcoin doesn’t really help that goal, so in some ways, Bitcoin is crowding out productive investments...)