Cyph3rp9nk on Nostr: This is the definition of hard money described by Samuel Edward Konkin III in “The ...
This is the definition of hard money described by Samuel Edward Konkin III in “The Agorist Primer”.
He described bitcoin perfectly in 1986, although at the time he was referring to gold, the description is much better suited to the nature of bitcoin and what is happening.
"Suppose some substance could split its atoms without losing its essence, be more resistant to wear and corrosion than any other, be easily recognized and certified for its purity, and be valued by a lot of people for its usefulness and good looks. Suppose further that it “did better” than any other offered in competition.
Wouldn't most people turn to it to make money? There would be no need for laws, no foundations, no advertising campaigns leading to it. Nature would take care of that. Second, third and fourth choices could be taken into account, but the first would become the standard against which all others are measured."
He described bitcoin perfectly in 1986, although at the time he was referring to gold, the description is much better suited to the nature of bitcoin and what is happening.
"Suppose some substance could split its atoms without losing its essence, be more resistant to wear and corrosion than any other, be easily recognized and certified for its purity, and be valued by a lot of people for its usefulness and good looks. Suppose further that it “did better” than any other offered in competition.
Wouldn't most people turn to it to make money? There would be no need for laws, no foundations, no advertising campaigns leading to it. Nature would take care of that. Second, third and fourth choices could be taken into account, but the first would become the standard against which all others are measured."