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To me it's always seemed like money grows from the barrel of a gun. Detaching money from military power sounds wonderful but it makes no sense to me. It seems t

To me it's always seemed like money grows from the barrel of a gun. Detaching money from military power sounds wonderful but it makes no sense to me. It seems to defy the very basis of what money is. Tokens handed out by warlords. Only stretched out over such a long time that it isn't obvious any more. Obviously I am neither an economist nor a political theorist.

generalizations 6y ago
I always figured that 'naturally arising' currencies, like gold and cigarettes, have two key properties: a) perceived inherent value (e.g., gold by long tradition and whose origins are lost to history, and cigarettes because people want their fix) and b) natural limitations on quantity (and counterfiting: gold has known density, and a fake cigarette is apparent as soon as you try and use it). The purpose of the gun, it has seemed to me, is to get around the fact that fiat currencies have neither of the above properties, but that both can be enforced to some degree.
cblconfederate 6y ago
It's true but , bitcoin is a weapon, like the dollar is. Because BTC can't be physically destroyed, nukes become useless if the purpose is to destroy an economy / state. Raising an army with bitcoin is also impossible , because it s international and inherently impossible to inflate. In fact any state that wants to wage war in a crypto world is essentially fighting mathematics. It is also inevitable, as any country that decides to ban it will eventually be forced to bring it back as soon as a rival starts using it.
- defterGoose 6y ago
  While it would be nearly impossible to destroy all the servers maintaining the blockchain, it makes me wonder about the possibility of a sophisticated virus erasing it by means of an update cycle. Seems like some good fodder for a Mr. Robot-esque show or novel.
meiraleal 6y ago
Internet is a new thing, the old world might not satisfactorily explain the new one.

generalizations 6y ago

I always figured that 'naturally arising' currencies, like gold and cigarettes, have two key properties: a) perceived inherent value (e.g., gold by long tradition and whose origins are lost to history, and cigarettes because people want their fix) and b) natural limitations on quantity (and counterfiting: gold has known density, and a fake cigarette is apparent as soon as you try and use it). The purpose of the gun, it has seemed to me, is to get around the fact that fiat currencies have neither of the above properties, but that both can be enforced to some degree.

cblconfederate 6y ago

It's true but , bitcoin is a weapon, like the dollar is. Because BTC can't be physically destroyed, nukes become useless if the purpose is to destroy an economy / state. Raising an army with bitcoin is also impossible , because it s international and inherently impossible to inflate. In fact any state that wants to wage war in a crypto world is essentially fighting mathematics. It is also inevitable, as any country that decides to ban it will eventually be forced to bring it back as soon as a rival starts using it.

defterGoose 6y ago
While it would be nearly impossible to destroy all the servers maintaining the blockchain, it makes me wonder about the possibility of a sophisticated virus erasing it by means of an update cycle. Seems like some good fodder for a Mr. Robot-esque show or novel.

meiraleal 6y ago

Internet is a new thing, the old world might not satisfactorily explain the new one.