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TechTakes @awful.systems

irelephant [he/him]🍭 @lemm.ee

11h ago

"Regulations are NOT the issue to low-quality food. Bitcoin is." - this guy.

25 comments

"Bitcoin" could just as easily be swapped with "prayer" in this sentence, with the same implications
- Do you have time to talk about your bitcoins extended warranty, it now uses AI!

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.
- 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.
- Oh it's like sovereign citizens

Wow I was with him at first lol
- Wow, Bitcoin was the solution for that. That is a first. Might have found a first real usecase.

mhm and how would Bitcoin fix those problems though? Can those Techbros actually answer that?
- Value of number goes up, this fixes inflation somehow
- 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
  
  Crypto vs houses also has the problem that the former is hard to reposses. So not great to base a financial system, where people will default/be scammers/etc on. But of course they consider this a pro not a con. As they are often "im mad gov spend some money (muh taxus!!!1!!) on stuff I disagree with" types. So hoarding would be worse but now in crypto. And there is no reason why speculation in cryptoshit and real estate cant exist both at the same time, like now in reality. Gold didnt fix housing, so why would bitcoin. But yeah, think they are the common clay of the new west.
- Easier to launder. Maybe. 🤔
- We all fuckin know they can't but it's sure fun to watch the idjits try

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).

Wow, coiners tried to parasitize YIMBY while I wasn't paying attention?

25 comments