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Cryptocurrencies such as bitcoin extend the power of a person's imagination out of their mind and into the minds of other people. They do this because the crypt
by jerry1979 5y ago
Cryptocurrencies such as bitcoin extend the power of a person's imagination out of their mind and into the minds of other people. They do this because the cryptocurrencies create rules that people have a very hard time breaking, and people can communicate ideas through those rules. In this way, bitcoin does not subtract humans, it extends the human mind outward.
- munificent 5y agoI agree! Cryptocurrencies can be a useful tool if you have the right mindset. The trick is to think of them not as a means of replacing consensus, but a tool for achieving it. Because once you have that mindset, then you can start thinking about how it compares with other consensus-making tools (like the state and banks), and you can think about hybrid models that combine those in interesting ways.
- intotheabyss 5y agoThere's a saying in the space that all cryptocurrencies are built on Layer 0 which is the social consensus layer. Bitcoin is only Bitcoin because everyone agrees on it.