I’m not going to go all bitcoin crazy geek on you, but yesterday, I posted something that only some of my eclectic collection (colleclectiction?) of readers are interested in.
However, as is my way, I’m principally interested in engendering particular interests among those who, at any particular time, aren’t particularly interested in the slightest. I’m a persuader, more than I am a dissuader—just because I blog my interests more than my dissinterests. I can see the comments and emails already: “a few months ago, I knew nothing of Bitcoin, wasn’t interested….” I know that will happen. Always does. It’s a big part of my drive.
…So it is that my story always goes; and what keeps me always going.
One FB follower, Mike Schneider, shared my post, and had this to say, in the blockquotes that follow. It’s very unimportant in particular, because the number of folks hubristic-ignorant on Bitcoin are legion. On the other hand, because there’s so much ignorance—from innocent to hand-waving statists, like Mike—this load of stupid shit is just as good as any load of stupid shit to illustrate stupid conservative shit.
I warned my friends to stay away when it was 1.1, then I warned them to stay away when it was .8, and now I’m warning them to stay away when it’s under .5. The rest of this year I’ll be warning them to stay away when it finally blows back under .3 and then .2.
1.1., .8, .5, .3, and .2…relative…to what? Is he warning people to stay out of dollars too?
Purchasing Power of U S Dollar
So let’s get this straight from the outset. In dollar-relative terms, since the advent of Bitcoin in 2009, it’s gone from $0 to $1,000, and right now, back to $450. And this is a problem, over the space of five years? It’s important to understand that Bitcoin is a currency, proven as such in international commerce, now (you can buy plane tickets, hotels, tours, and all manner of goods). It has been a huge and successful hedge agains the fiat dollar, just like gold: only better.
So, fucktard seriously? You can decry and shame the people who bought Bitcoin with dollars at $450 to $1K, but don’t salute anyone of the more millions who bought in at $.01 to $449, still flush (to the tune of millions for many) in dollar terms? I know why, but the interlocutor is tilted to the hilt in moron hubris, chock full of unearned and unwarranted confidence, and surrounds himself in people that only stroke him, just like those he surrounds.
Since apparently, the dollar is something to treasure over Bitcoin, how sound is the dollar? The previous chart dealt with what’s euphemistically referred to as “inflation.” It’s euphemism for State theft, a sophisticated form of coin clipping that involves elites in suits giving speeches widely publicized, to pet you. Here’s one dealing with the dollar vs. gold, which explains why Discovery Channel is now filled with gold mining shows.
But wait! how about Bitcoin vs. Gold? Well, there is speculation, some of it rather objective as to which cases get advantage. This, of course, is predicated upon a clear understanding as to what Bitcoin really is—something I can’t concede to the interlocutor, here, as you’ll soon see.
So, apparently, Bitcoin is dumb because it went Tulip Mania against the dollar, and has pulled back to a perhaps more sane level, for now, but only in relative terms of dollars—all the while more and more folks are buying and selling goods and services in Bitcoin start to finish. With hundreds and thousands entering the market daily—and to play, you have to buy or get paid BTC—volatility is to be expected. That is, if you’ve actually been a day or floor trader— and not just someone in mom’s basement reading Rand and theorizing on Randian Internet places (You really have to read Scott DeSalvo’s abjectly ignorant comments at that link—quintessential Billy Beck, Randian, sycophant regurgitator)—you kinda get how markets work. You begin to understand how an entity like the SEC can’t possibly keep up with any of it, and only does the odd prosecution to keep you ignorantly, blissfully, comfortable. I digress.
Let’s continue with the ignorant sycodouche.
SO WHY WILL THAT HAPPEN? Due to something very simple that this primer will not tell you: The world is going is to be flooded with Bitcoin clones. E.g., Litecoin, Dogecoin, etc. There are only handful now but very quickly it will be dozens and then hundreds. Since none of them are backed by either precious metals or government mandate, they can only claim to have numismatic value; i.e., scarcity value. But while the amount of any *particular* Bitcoin-like currency cannot inflate, nothing prevents an inflating number of *clones* — and thus they will all drive to zero in exactly the same manner as the stock-exchange share values of bankrupt corporations.
Argumentum libero, I’ll call it. Way back, someone told me that libertarians can often be the worst fascists (fascism is a state-corporate hybrid, the US being the most important fascism of all time). Why? Just read the foregoing again. Here’s a “libertarian” telling you that the problem is that nobody is forcing one single protocol upon you, and so beware: there’s heightened risk, because there’s no decider. …I now have heightened respect for the one who told me that about such “libertarians” 22 years ago.
So be afraid: there’s a completely free market here, even though Bitcoin has about 99% of it, so far. Be very afraid. We’re going to be flooded with alternative options. Don’t even bother to jump in and learn anything along the way. The State and its fiat currency are your guiding light and the standard of measure in the “libertarian’s” eyes. All these options? Go with the State fiat. Libertarians. Gotta Luv ’em.
They’re actually Shiite Conservatives, but I’ll close with that.
…And, after all, what will your “libertarian” “friends” think, and those who always expect you to like and comment the same way every time, like on Billy Beck’s Facebook? So, if you do wade into Bitcoin, go stealth. You don’t want to be excommunicated by the “liberty lovers.” They’ll do it quicker and more brutally than you’ve ever seen, channeling “liberty” in the process.
“Liberty” is very serious business.
…Not to beat the drum—OK, I am—like Beck, at heart, his sycophant, Mike Schneider, is a statist. The only “distinction” is that they read Rand (the Bible), so they know what’s right for everyone. Because Rand said so, gold is the only real money…and they do the equivalent of card trick slight of hand to advance that, while not telling you about their fundamental belief in her doctrine: Tangible. Concrete. Mindless—ironically amongst a philosophy where her best work was literally quantifying the mechanisms behind conceptualization and abstraction (Introduction to Objectivist Epistemology). Forget about the guys right now mining rubies from hard rock in Iceland—where ice sheets have retracted for the first time in modern history. What their concrete-bound, chipmunk brains don’t get is the difference between gold, diamonds and rubies, and a singularity. They are the equivalent of folks who lafed their asses off at the first automobiles and lafed more with each shut down of hundreds upon hundreds.
OK. Now more presumptuous ignorance.
What’s Enron worth these days? Zero. But the issued number of common stock shares is fixed — they can never inflate; and they’re all still available out there for sale on the pinksheets somewhere. Stock-trading software is everywhere. So, why aren’t savvy anti-statists adopting Enron shares as currency? Because they are fucking worthless; that’s why; and promoters would be laughed off their soapboxes if they tried to pitch it.
There’s no global trading platform seen to by millions in time, effort, and massive collective CPU collaboration to trade “worthless” shares in BitEnron. Really, one sentence is all that abject stupidity is worth. By now, you should suspect that Mike is too stupid to breath air, really. Or, he ought just STFU and mind his place.
The very biggest ignorance surrounding Bitcoin is the inability of so many to understand how an asset/currency, and THE payment system, are inexorably ONE—which is what gives it value, along with the transparency that’s inimical to such no-leader systems. Chew very hard on the implications, and consider that the payment system is comprised of a global network of people who care, and who have a stake, and it’s millions of nodes, now. It is precisely that the currency and transfer/payment system are transparently one, and inexorably one, that gives Bitcoin value that now millions of people agree on unanimously. I posted this on Facebook earlier.
Voting Update. 100% Unanimous, or Nothing. No Force. No other form of voting is morally valid, except as by contractual agreement—where you actually sign up, not the nebulous fallacy of a “Social Contract”—where you agree beforehand to comply with some majority or super-majority decision, such as in corporate boardrooms—or marriages, where I believe females automatically have a 2/3ds majority.
“Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can’t force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.”
Do you understand? Bitcoin works by vote, and it’s 100% unanimous, or it doesn’t happen at all—or some nodes drop off, if they don’t wish to abide. This is pure anarchy.
But Mike Schneider, just like 100% of the libertarians I’ve been dumping from my circles right and left lately, are just too statist fucktard conservative to understand basics, anymore—even with all protestations to the contrary.
Wanna see more idiot? OK.
— A Bitcoin has all the value of an Enron share without ever having had a once-profitable corporation backing it in the first place. So, why does it appear to have greater-than-zero value right now? Because it’s being hyped; and there is permanent industry devoted to selling nothing for something to suckers. You know enough to not take Enron shares in exchange for the dop-, er, shoes you’re selling because you can throw “enron” at a search-engine and know it’s valueless. But for some odd reason many of you out there are willing to trade material assets away for what is essentially the same stuff provided there’s no history of a dividend-paying entity going tits-up being associated with it.
…Those “material assets” of which he speaks? See the charts up top.
See, Mike, like Billy Beck (and many others in my former circles), is a conservative statist. They pretend much to the contrary, but it’s just not so. I’ll close with words for conservatives.
But let’s have more lafs, first.
E-gold, island shares, floating cities, Moller Skycars — all the ridiculous, libertarian-fleecing scams of yesteryear soon to be joined by another. Give the level of social media indulgence of this nonsense, the level of butthurt upon collapse is going to be epic.
Be conservative. Don’t try anything just to see if it takes off, and certainly don’t “fleece” anyone that might share your vision and appreciate you giving it a go by doing the footwork. After all, in Mike’s world, all you have to do is be right and conservative, and you can’t fail. I’m sure he’s just waiting for his opportunity. But conservatives never create anything, by definition. They only reenact. Over and over and over and over. It’s a comfort zone thing.
Only go with what the State has forced, with its monopoly-granting powers…all the while you heckle the people actually doing something, trying, succeeding, or failing, but trying—rather than moving fingers on the Internet all day like a pip-squeak and a clown all in one. ….Oh, wait, I was saving the bit about conservatism to the end.
Note that this NOT an argument for government-run fiat currency or against the idea of electronic money.
It is an argument against uncommoditized currencies.
“It is an argument against uncommoditized currencies.”
And so we get to the essential conservatism at the root, as if it’s not just dripping with Beck-esque conservatism start to finish. Full disclosure: the gold standard ought to have been ended many decades earlier, as it was merely a “fractional gold ‘reserve,'” replaced with a “fractional fiat reserve.” We ought to have been done with that conservative fantasy decades earlier, so that by now, we could be laughing at their concrete bound-ignorance for decades, by now.
Understand: what people mutually agree to as a medium of exchange is the only thing of importance, ever. Statist conservatives, many “libertarian” ones, above all, wish to impose a monetary system upon you that harkens back to the days where you had to save for years to buy a horse and there was no such thing as selling your future productivity or labor now, when it matters most (credit and money creation). Actually, debt as money (debt is money) is my own chief concern about Bitcoin. Without rational and sensible credit markets (the most beautiful way to mine money—in human ingenuity), things could be fucked. That said, I have not as yet looked into the potential of debt markets in Bitcoin (offhand, it’s like loaning people cash, and they don’t have any way of enforcing a judgment, so trust and reputation would be key).
…I’m coming to the persuasion that the biggest problem on earth isn’t really commies and socialists. It’s conservatives, whether they be commie conservatives, socialist conservatives, or “conservative” conservatives.
Conservatism isn’t an ideology. It’s more of a perpetual iciness, so everything moves slow. Conservatives are essentially nostalgia bound. They want it to be like it was, in spite of the fact that today is not like yesterday; and every day henceforth, it will be less like it. And the pace quickens. I loath them all, more and more each day—as fast as humanity marches forward in all its ugliness in experimentation. I’m at the point where I feel more sound amongst a bunch of drunk girls doing duck-face on Instagram, than I am with any kind of conservative. The girls will be laughing at their silliness in a few years. Conservatives will always be conservatives, defending duck-face for millenia to come.
You can embrace the global, forever, rapid change experiment with no guarantee, see what works, waiting for another day for something that works better; or, you can be the blight of planet earth: a fucking conservative.
Worse than commies since 2000!