ericfj on Nostr: Humanity has NEVER before had a fixed money supply that is rehypothecated through ...
Humanity has NEVER before had a fixed money supply that is rehypothecated through proof of work. This is eventually what happens in 2140 when the block reward is gone (and effectively, long before that).
This isn't "digital gold". Gold didn't have this property - its supply scaled with our industrial power. This is totally fucking new territory.
This is an experiment, just like the formation of the United States was once upon a time. It's a vision of something better than before, designed consciously.
I think Bitcoin's properties make it somewhat inevitable, so our best shot at making this work is to adapt to whatever it is. We'll need new social and commercial paradigms around it. Some of the old stuff will work, but a lot of it won't. It's chaotic and beautiful all at the same time... and we're going to live through that transition. Godspeed.
This isn't "digital gold". Gold didn't have this property - its supply scaled with our industrial power. This is totally fucking new territory.
This is an experiment, just like the formation of the United States was once upon a time. It's a vision of something better than before, designed consciously.
I think Bitcoin's properties make it somewhat inevitable, so our best shot at making this work is to adapt to whatever it is. We'll need new social and commercial paradigms around it. Some of the old stuff will work, but a lot of it won't. It's chaotic and beautiful all at the same time... and we're going to live through that transition. Godspeed.