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> Nobody is proposing banning blockchains. Cryptocurrency, however, is clearly more than just software The block reward is the incentive for miners/stakers to

by dibt 4y ago

> Nobody is proposing banning blockchains. Cryptocurrency, however, is clearly more than just software The block reward is the incentive for miners/stakers to operate a decentralized network. It is not a separate concept. The actual value of each reward is emergent. It is the result of resources being used to operate the network, and how we value that network. If we don't value the network enough, the value of the block reward will drop below the resources required to maintain it. I don't see why any external party should dictate how we may value that block reward or network. > the way missile-targeting system is more than ones and zeroes. This is an irrelevant comparison attempting to moralize software by comparing it to a weapon.

JumpCrisscross 4y ago
> block reward is the incentive for miners/stakers to operate a decentralized network. It is not a separate concept The moment that reward becomes a currency, and is traded for U.S. dollars, it leaves the domain of just being software. Banning that is quite different from banning the software per se. > an irrelevant comparison attempting to moralize software by comparing it to a weapon Comparing Bitcoin to free software seems similarly disingenuous.
- dibt 4y ago
  If your position is that digital assets should be banned, you're a little late for that. Digital assets are defined in the US as property by the IRS since about 2014, and a commodity by the CFTC. Furthermore, giving someone US dollars for something doesn't make that thing a "currency." > Comparing Bitcoin to free software seems similarly disingenuous. Bitcoin is literally FOSS. https://github.com/bitcoin/bitcoin https://github.com/bitcoin/bitcoin
- atsmyles 4y ago
  > The moment that reward becomes a currency, and is traded for U.S. dollars, it leaves the domain of just being software. Banning that is quite different from banning the software per se. That would make Eve online, Second Life, and other games illegal since people trade their digital assets all the time >Comparing Bitcoin to free software seems similarly disingenuous. Bitcoin is free software. https://github.com/bitcoin/bitcoin https://github.com/bitcoin/bitcoin
- sidewndr46 4y ago
  So I create "bullshitCoin2023" and trade it amongst my friends and myself. We also mine it via proof of work. We all work hard to see who can out do each other to mine the most coin with same fixed amount of computational input. Some guy in Nigeria I don't know starts swapping it for Zimbabwe dollars. Now I'm not writing software anymore?

by dibt 4y ago

JumpCrisscross 4y ago

> block reward is the incentive for miners/stakers to operate a decentralized network. It is not a separate concept The moment that reward becomes a currency, and is traded for U.S. dollars, it leaves the domain of just being software. Banning that is quite different from banning the software per se. > an irrelevant comparison attempting to moralize software by comparing it to a weapon Comparing Bitcoin to free software seems similarly disingenuous.

dibt 4y ago
If your position is that digital assets should be banned, you're a little late for that. Digital assets are defined in the US as property by the IRS since about 2014, and a commodity by the CFTC. Furthermore, giving someone US dollars for something doesn't make that thing a "currency." > Comparing Bitcoin to free software seems similarly disingenuous. Bitcoin is literally FOSS. https://github.com/bitcoin/bitcoin https://github.com/bitcoin/bitcoin
atsmyles 4y ago
> The moment that reward becomes a currency, and is traded for U.S. dollars, it leaves the domain of just being software. Banning that is quite different from banning the software per se. That would make Eve online, Second Life, and other games illegal since people trade their digital assets all the time >Comparing Bitcoin to free software seems similarly disingenuous. Bitcoin is free software. https://github.com/bitcoin/bitcoin https://github.com/bitcoin/bitcoin
sidewndr46 4y ago
So I create "bullshitCoin2023" and trade it amongst my friends and myself. We also mine it via proof of work. We all work hard to see who can out do each other to mine the most coin with same fixed amount of computational input. Some guy in Nigeria I don't know starts swapping it for Zimbabwe dollars. Now I'm not writing software anymore?