New research from BDC reveals that 9 out of 10 Canadians are looking to travel this year, despite economic concerns, with over half saying travel is central to their lives.
Though more practically at scale, the banks could lobby that every encrypted message on the internet has to be endorsed by a major corporation or else ISPs have to block it. Thus you can’t sync with the blockchain and you can’t sell your bitcoin for anything. It is yours but it is frozen.
Or, alternatively, the OS of the device you use to authorize bitcoin payments could have a backdoor so that next time you authorize a transaction, the device swaps the receiver to [insert megacorp] and the amount to everything in your wallet without telling you. Nobody is taking your bitcoin, you’re giving it to them.
And yes, as I said, the answer isn’t to put money in banks, but in supplies, barter goods, survival skills and social capital. Why sell bitcoin for a can of beans when you can have a can of beans? Why try to convince someone to accept bitcoin when you can give them clean bandaids or a drinking water filter?
Why pay someone bitcoin to fix the hole in your roof when you can help them set up solar panels? Why use bitcoin to hire someone to guard you from wrench attacks when you can have friends who will protect you for free?
All of this is breadcrumbing the way to anarchocommunism. Friendships and bonds of trust can not be stolen. Skills can not be expropriated. Hoards run dry but useful labor doesn’t.
You are free to buy more bitcoin. On my desk I have a Roman coin of someone who followed the same logic as you, 1700 years ago. It didn’t help them, but maybe you will have better luck.
Appreciate the effort, but if your argument is that the government/civilization will be so tightly controlled and apocalyptic that Bitcoin will surely die, then I’ll go buy some more again. I’ll also take a stab in the dark and guess that you’re American, as usually it’s only Americans who speak in a way that makes it sound like they’re the only country in the world (“the government”? Of what?? Every single country at the same time?)
If you think civilisation is going to die, then Bitcoin is a much worse idea than hoarding food. Yes, you got me.
The $5 wrench argument is cute until you realize you can beat someone with a $5 wrench until they give you their credit card PIN, or gold stored in their house, or beanie baby collection, or…
Finally, my challenge which still has not been met, is to explain how Bitcoin works and then why it will fail. Care to try to be the first?
Or how about a mini challenge? Explain why countries who experience hyperinflation see massive inflows into Bitcoin? What’s going on there in your mind? Mass psychosis?
Edit: If you wish, I can make an xkcd-like comic that shows someone being beaten with a $5 wrench for their massive pile of food and emergency supplies. Uh oh.
Finally, my challenge which still has not been met, is to explain how Bitcoin works and then why it will fail. Care to try to be the first?
Bitcoin is a currency divided among wallets as described in the blockchain. The blockchain is a ledger file synchronized across all users. Bitcoin can fail when synchonization is lost, such as in the scenario I described where ISPs only allow encryption if it is authorized by specific organisations. Bitcoin can be sabotaged by hacking the software you use to transfer it. And bitcoin can be useless when people ostracize you the moment you mention having it.
Explain why countries who experience hyperinflation see massive inflows into Bitcoin? What’s going on there in your mind? Mass psychosis?
Because in those cases bitcoin is more stable, being supported by the global bitcoin economy which in turn is supported by liberal capitalism. I intend to destroy the latter and boycott the former.
No one can take my Bitcoin.
First step is understanding it.
Relevant xkcd:
Though more practically at scale, the banks could lobby that every encrypted message on the internet has to be endorsed by a major corporation or else ISPs have to block it. Thus you can’t sync with the blockchain and you can’t sell your bitcoin for anything. It is yours but it is frozen.
Or, alternatively, the OS of the device you use to authorize bitcoin payments could have a backdoor so that next time you authorize a transaction, the device swaps the receiver to [insert megacorp] and the amount to everything in your wallet without telling you. Nobody is taking your bitcoin, you’re giving it to them.
And yes, as I said, the answer isn’t to put money in banks, but in supplies, barter goods, survival skills and social capital. Why sell bitcoin for a can of beans when you can have a can of beans? Why try to convince someone to accept bitcoin when you can give them clean bandaids or a drinking water filter?
Why pay someone bitcoin to fix the hole in your roof when you can help them set up solar panels? Why use bitcoin to hire someone to guard you from wrench attacks when you can have friends who will protect you for free?
All of this is breadcrumbing the way to anarchocommunism. Friendships and bonds of trust can not be stolen. Skills can not be expropriated. Hoards run dry but useful labor doesn’t.
You are free to buy more bitcoin. On my desk I have a Roman coin of someone who followed the same logic as you, 1700 years ago. It didn’t help them, but maybe you will have better luck.
Appreciate the effort, but if your argument is that the government/civilization will be so tightly controlled and apocalyptic that Bitcoin will surely die, then I’ll go buy some more again. I’ll also take a stab in the dark and guess that you’re American, as usually it’s only Americans who speak in a way that makes it sound like they’re the only country in the world (“the government”? Of what?? Every single country at the same time?)
If you think civilisation is going to die, then Bitcoin is a much worse idea than hoarding food. Yes, you got me.
The $5 wrench argument is cute until you realize you can beat someone with a $5 wrench until they give you their credit card PIN, or gold stored in their house, or beanie baby collection, or…
Finally, my challenge which still has not been met, is to explain how Bitcoin works and then why it will fail. Care to try to be the first?
Or how about a mini challenge? Explain why countries who experience hyperinflation see massive inflows into Bitcoin? What’s going on there in your mind? Mass psychosis?
Edit: If you wish, I can make an xkcd-like comic that shows someone being beaten with a $5 wrench for their massive pile of food and emergency supplies. Uh oh.
If you’re issuing challenges, then I have a challenge for you: How do you defeat the $5 wrench? I have given the answer, but can you comprehend it?
Of the person reading this sentence, obviously. In my case EU lawmakers are making moves to restrict encryption which would make Bitcoin non-secure.
Bitcoin is a currency divided among wallets as described in the blockchain. The blockchain is a ledger file synchronized across all users. Bitcoin can fail when synchonization is lost, such as in the scenario I described where ISPs only allow encryption if it is authorized by specific organisations. Bitcoin can be sabotaged by hacking the software you use to transfer it. And bitcoin can be useless when people ostracize you the moment you mention having it.
Because in those cases bitcoin is more stable, being supported by the global bitcoin economy which in turn is supported by liberal capitalism. I intend to destroy the latter and boycott the former.