Bitcoin Is Civilization
bariweiss.substack.com
bariweiss.substack.com
Why do they keep feeling the need to defend and evangelize bitcoin?
If it's useful, people who find it useful will use it and their lives will improve... people who don't find it useful won't use it and their lives will be unaffected.
If the deviation between these two groups gets too wide, you will recruit users because the facts on the ground will make the benefits obvious.
Nobody went around shilling for Amazon in the late 90s. Nobody went around shilling for Google in the early 2000's.
Go build something useful and shut up until it's done.
This is delusional.
Or at least they would be mandated to guarantee a non changing rate for at least one month.
Btc made me realize normal money is not so bad.
1. Bitcoin circumvents currency controls.
2. The wild 30% swings of the gold price historically was still, in principle, preferable to generally stable 1 - 2% swings of the money supply over the last half-century.
3. The richest will be able to monopolize the market without interference or regulation.
4. Crypto enables the trade of materials regardless of whether the government approves.
5. Crypto makes it harder for the government to impose taxation or seize property.
6. Cryptocurrencies are based on cryptography. Cryptography is good. Therefore cryptocurrencies are good.
7. It's gonna be a big market so buy in now.
8. Yet more anarcho-capitalist inanity. Sure, you can hide your cryptocurrency assets. But if the tax man or judge orders you to pay, you better pay. They may not be able to imprison your cash but they will be able to imprison your body.
9. Crypto brings the world together.
10. Again, we can apparently just replace laws with code now.
I very much doubt this will influence anyone who wasn't already converted. It may actually serve best as a warning against Bitcoin. A precise description of the threat.
It's very telling that at no point in this screed about democracy and equality is a key fact mentioned. One's vote in a decentralized organization is, almost invariably, allocated in proportion to ones share of ownership. Just like shares in a corporation. This is a proposal to shift regulation of the financial system from a one-person-one-vote to a one-dollar-one-vote system.
> Why Is Bitcoin Not a Security?
> In June 2018, the former Chair of the SEC, Jay Clayton, clarified that bitcoin is not a security: "Cryptocurrencies: These are replacements for sovereign currencies, replace the dollar, the euro, the yen with bitcoin. That type of currency is not a security," said Clayton.
> Bitcoin, which has never sought public funds to develop its technology, does not pass the Howey Test used by the SEC to classify securities. However, by Clayton's definition, tokens used in an ICO are securities.