"Bitcoin" could just as easily be swapped with "prayer" in this sentence, with the same implications
this post was submitted on 03 May 2025
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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Wow, coiners tried to parasitize YIMBY while I wasn't paying attention?
Isn't all money fiat?
Ever since we understood actual scarcity of mineral deposits across Earth, yeah
Anything that isn't is just bartering.
Yes, or backed by actual PMs or other high-value assets. Which actually makes me wonder if those aren't fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
Which actually makes me wonder if those aren’t fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
I can see an argument for considering them fiat. The value of "high-value assets" (e.g. gold) comes from the assumption they'll retain their value even if things get drastic, not from being immediately useful (e.g. alcohol) or necessary to survive (e.g. water).
PMs
Zero clue what the acronym means in this context.
Precious metals. My point is, artificial scarcity means artificial value.
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One of the biggest realizations I had in High School is there are two kinds of people who hate bullies: those who don't think bullies should exist, and those who want the bully's power for themselves.
So it it with crypto. These jerkoffs don't want to crush the corrupt monetary system, they want to supplant it with their own scam.
It's a movement driven in no small part by rage. By people who looked at [the financial crash of] 2008 - who looked at the system as it exists - but concluded that the problems with capitalism were that it didn't provide enough opportunities to be the boot.
All credit to Dan Olson's masterpeice video Line Goes Up - The Problem With NFTs. Now, if you'll excuse me, I've got to go watch the whole thing again.
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Oh it's like sovereign citizens
Yep, anyone who wants to change the rules stands to benefit from that change. It wouldn’t make sense otherwise.
There's also the possibility they're just a good person.
They would presumably still gain by changing the rules for the better.
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mhm and how would Bitcoin fix those problems though? Can those Techbros actually answer that?
I think the argument he is trying to make is that with speculative investment driven to bitcoin, it will reduce hoarding over assets as an investment.
Of course that leads to questions about why we allow assets to be hoarded and seems like a capitalism issue but you know
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We all fuckin know they can't but it's sure fun to watch the idjits try
Value of number goes up, this fixes inflation somehow