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by gbhn 2881 days ago
Sure, but a main point of a crypto currency is realizing there's no reason to back a monetary currency with anything. It's just a shared hallucination. There's no rational reason a new currency would be "based" on btc holdings. That's just silly.

My view is that the upper end of btc viability is taking over some fraction of why people want gold. The system is way too expensive for a viable txn network (a la cash or Visa) and will never become one.
1 comments
bunderbunder 2881 days ago
> a main point of a crypto currency is realizing there's no reason to back a monetary currency with anything

I'd argue that BTC is very much backed with something - lots and lots of thermal dissipation. The entire argument for why it should be accepted as a stable, reliable, trustworthy store of value is based on proof of work.

If BTC is challenging anything about money, it's challenging the idea that money needs to be something that exists under the auspices of a government body.

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khazhou 2881 days ago
On the Bitcoin gravestone will be written:

  "I challenged"
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