Quote from: theCommittalist on September 07, 2022, 12:29:46 PM

Quote from: Snowshow on September 06, 2022, 11:41:38 AM

Quote from: theCommittalist on September 06, 2022, 09:57:06 AM

Well what we don't hold is pieces of paper that can easily be stolen, & burnt. Or pieces of metal that can easily be forged into a cutting implement for troll removal.

Our trade consensus & storage of value is far more secure, far more difficult to grasp, as you clearly demonstrate, & therefore far more difficult to snatch at. You will see the light some day, padowan. You will stop reaching for grubby materials & accept the might of the capital idea Wink

Yes, a car can be stolen, a house burned, land confiscated, a lottery ticket lost. But in the Bitcoin scheme, non of that can happen because there's nothing to steal, burn, confiscate, or lose. You have nothing. You enter a chain distributor scheme, supply an old participant with resources, and then wait for a new participant to do the same thing for you.

Right, willing participants, so you are beginning to conceive of the idea of consensus & why the trust relationship inherent in economy as we know it is superior to anarchy, banditry, feudalism & barter. So once you get your head around the real nature of capital exchange, that it has very little to do with pieces of paper & metal, & everything to do with tacit agreements & social contracts that consent in good faith to a system of value exchange, you might now start to understand what decentralization in the internet age means, & stop wetting your bed because your banker daddy isn't going to carry quite the same social mystique he once did. Things improve, people exploiting the old ways lose out, get over it.

C'mon. Stop with this nonsense philosophy. Economy is pretty simple concept - it's the activity of producing and exchanging resources. Money is also a simple concept - it's a specific type of resources that has features like durability, portability, divisibility, uniformity, and acceptability. Gold or debt(fiat money) are such resources. In Nakamoto's system, either this system or registered participants initiate attribution of numbers to online addresses. That's all. There are no resources produced or exchanged in it. It's has nothing to do with economy or money. There is nothing to trust or have consensus about. That's why Nakamoto defined coin as a chain of digital signatures - record of signed attributions of numbers freely available to everyone. It's a stupidity never seen in human history.