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@kepford
2,181,523 sats stacked
stacking since: #136580longest cowboy streak: 314npub1qqqq9...szns49hq0q
100 sats \ 0 replies \ @kepford 1 Aug \ parent \ on: SEC debuts 'Project Crypto' to bring U.S. financial markets 'on chain' news
The later
I don't disagree, but value is still subject and many things have much higher value than the energy required to generate them. What you are describing about value is very similar to the Marxist labor theory of value.
For example, if I started a shitcoin and it required energy that doesn't mean it would be worth anything. It would have to have enough people that believe it had value. This is why so many shitcoins do command stupid prices. Over the long run.... they will fail but new ones will sprout up until society / culture learns. I think this could take a very long time.
There is also utility as a factor in value/prices. Something can have plenty of energy inputs but little utility. I mostly agree with you but there are more factors.
- Energy
- Utility
- Social (believe)
I mean... that's not completely true. Value is subjective. Under that definition you can't explain why people pay money for many things.
But, bitcoin's connection to energy protects the network and does tether it to the physical world. The fact that miners use energy to secure the network and earn bitcoin provides part of its value. Ultimately though, you don't have to have energy but proof-of-work is vital to making bitcoin work without a central authority.
What I see in most of crypto is solutions looking for problems to solve. I fail to see how adding blockchains to the financial system without changing anything else increases its value. Its wild. I think most people that get what blockchains do actually think their utility is very limited. They do in my industry. That includes bitcoin. But most of these people have no clue how bitcoin works. Crypto is a poison and has set bitcoin back decades in adoption.
The "conservative" right really annoy me. Over and over again they will mock people that have principles on liberty, international relations, health, and the list could go on forever. Then an influencer they like starts repeating something like "No CBDCs" that they heard from an informed and intelligent person. These influencers strip the substance, reason, and logic behind the slogan. Then politicians get in on it and repeat the slogan. Then, the politician supposedly keeps their promise but their promise was empty. No substance. They could not tell you why it mattered. Turns out they actually not only don't keep their promise, they subvert the idea behind it.
I remember distinctly learning about the WEF in 2020. It was pretty wild. I told conservative family members about it, how they train up small time politicians in cities all over the world to bring about the vision of the elite class. How these people influence many politicians and community organizers that have never heard of the WEF. How there are other groups like this. That this is where much of the crazy stuff we see is coming from. They yawned. I don't waste my time with this stuff any more btw.
Then a few years later, 2023 or so these same people start telling me about the WEF. About many other things I told them about years before. But they don't get it. They only know a dumbed down version. A watered down version. One that doesn't get how influence works and spreads. They learned little more than the name of a group and that it is "bad".
This is a pattern that repeats over and over again. And its not just conservatives that fall into this pattern. The left is very similar. People when they are in groups are sheep. Don't be a sheep.
“To achieve President Trump’s vision of making America the crypto capital of the world, the SEC must holistically consider the potential benefits and risks of moving our markets from an off-chain environment to an on-chain one,” SEC chair Paul Atkins said in remarks to an “American Leadership in the Digital Finance Revolution” conference Thursday afternoon , referring to blockchain technology that enables cryptocurrencies, but has other applications as well.
2017 is calling. It wants its scams back.
CEO Larry Fink has said he sees the “tokenization of every financial asset” as an important step in “the technological revolution in the financial markets.”
I mean... I just don't give money to people I don't have a connection with or a way to validate. Its not that hard really. People will learn over time and through pain.
story smells like a gofundme scam
On this note. There was recently a woman that claims she was lost in the high sierras and her story started falling apart pretty quickly. Gofundme scams are everywhere.
In my view it is just another part of the democratization of exploiting the dumb masses. It used to be that only governments and NGOs/Non-profits could pull this stuff off. Now you too can do it! Its so easy.
Indeed. It is hard for me to believe anyone online these days really... there is so much baiting. I start with the assumption that something is fake these days.
This guy claims to be an long timer... I feel nothing for him. Especially since he's posting about it in this way. He gets the fruit of his efforts.
I really hate the framing of Udi. We should not be over-generalizing. How about we start there. I'm under no illusions that most people aren't savy. It is indeed irresponsible for us to just make broad statements without making it clear that you can and will lose your bitcoin if you don't know what you are doing. Its how it is. And, it is why there will always be someone that will make promises to you to keep it safe. And they will be able to screw you too.
Its not that hard to securely hodl. But people are lazy and dumb.
Thanks, yeah my node seems to be working fine. I can both create pay and receive invoices. Its just NWC.