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I hear your argument, but if global confidence in government and central economic control collapses then bitcoin isn’t going to save you. That’s when you hunker

by JCM9 5y ago

I hear your argument, but if global confidence in government and central economic control collapses then bitcoin isn’t going to save you. That’s when you hunker down and prepare for global chaos.

rglover 5y ago
> I hear your argument, but if global confidence in government and central economic control collapses then bitcoin isn’t going to save you. We don't know that. Nothing like Bitcoin has ever existed. And I'd imagine most people would prefer the short-term uncertainty and pain of reorienting their usage of money over starving or fighting to the death. If people take off the goggles, they will realize that it's all an illusion. The government is just other people like you and me with access to violence and the ability to indirectly control/manipulate other systems we depend on (e.g., banks, housing, etc). Their ceasing to exist doesn't preclude civilization collapsing long-term; they've just convinced people that it would.
- erichocean 5y ago
  > Nothing like Bitcoin has ever existed. Physical gold?
  - rglover 5y ago
    That can be confiscated. Bitcoin cannot. And as soon as SpaceX et al. start doing space mining, gold (and most precious metals) will no longer be rare.
    - erichocean 5y ago
      The government can mandate that all entities that wish to legally transact in Bitcoin, must do so with a publicly-registered wallet (e.g. held on an exchange). They can also ban transacting with any wallet that is not publicly registered. Any private wallet becomes, by fiat, illegal for the citizens of that country to transact with. Thus, any such "blacklisted" wallet is as good as confiscated, since no one can (or will) trade with your tainted coins. Your wallet's coins are, effectively, permanently banned. (It's as if they confiscated your gold and locked it in a vault, never to be used again.) Perhaps some other blockchain protocol has solved this issue, but Bitcoin hasn't, since Bitcoin wasn't designed with privacy in mind.
      - rglover 5y ago
        They can mandate anything they want, sure, but there are ways around all of that. And frankly, if they do, they're essentially admitting that they want to enslave you and your complicity with that is tantamount to self-immolation. Why in the world would you do that to yourself (or wish it on others) if you had an escape?

by JCM9 5y ago

I hear your argument, but if global confidence in government and central economic control collapses then bitcoin isn’t going to save you. That’s when you hunker down and prepare for global chaos.

rglover 5y ago

> I hear your argument, but if global confidence in government and central economic control collapses then bitcoin isn’t going to save you. We don't know that. Nothing like Bitcoin has ever existed. And I'd imagine most people would prefer the short-term uncertainty and pain of reorienting their usage of money over starving or fighting to the death. If people take off the goggles, they will realize that it's all an illusion. The government is just other people like you and me with access to violence and the ability to indirectly control/manipulate other systems we depend on (e.g., banks, housing, etc). Their ceasing to exist doesn't preclude civilization collapsing long-term; they've just convinced people that it would.

erichocean 5y ago
> Nothing like Bitcoin has ever existed. Physical gold?
- rglover 5y ago
  That can be confiscated. Bitcoin cannot. And as soon as SpaceX et al. start doing space mining, gold (and most precious metals) will no longer be rare.
  - erichocean 5y ago
    The government can mandate that all entities that wish to legally transact in Bitcoin, must do so with a publicly-registered wallet (e.g. held on an exchange). They can also ban transacting with any wallet that is not publicly registered. Any private wallet becomes, by fiat, illegal for the citizens of that country to transact with. Thus, any such "blacklisted" wallet is as good as confiscated, since no one can (or will) trade with your tainted coins. Your wallet's coins are, effectively, permanently banned. (It's as if they confiscated your gold and locked it in a vault, never to be used again.) Perhaps some other blockchain protocol has solved this issue, but Bitcoin hasn't, since Bitcoin wasn't designed with privacy in mind.
    - rglover 5y ago
      They can mandate anything they want, sure, but there are ways around all of that. And frankly, if they do, they're essentially admitting that they want to enslave you and your complicity with that is tantamount to self-immolation. Why in the world would you do that to yourself (or wish it on others) if you had an escape?