Here is my case for why it is a technology problem:
In the “natural state” of humans, we would have little technology which preserved the value created through our labor into the future. Wealth (preserved value from a previous period into the present) would be harder to hold as it would just rot, nor could a disparity of preserved material value arise between humans as it would continually be rotted away from everyone.
Bitcoin would not be special in this regard it would be a problem caused by all technology of value preservation in proportion to the preservation enabled, Bitcoin would just be the latest improvement in the technology of preserving the value generated.
But if Bitcoin is the best value preservation technology so far, then the technology which preserves our labor value indefinitely, also enables the greatest miserliness.
I don’t think the “selfish monk” and the “orphan” are non existent, impossible caricatures, I think I see them in the motivations of many, in the fears and ideals of Bitcoin stacking in the context hyperbitcoinization. But my error may be in treating hyperbitcoinization as a serious idea and necessary result. Perhaps that belief is not as likely as I had presumed. And so the scale of the problems in 1 and 2 may not be so great.
DefiantDandelion /
npub1pn…rqlgr
2024-08-18 16:45:14
in reply to nevent1q…0w92
Author Public Key
npub1pncg62q25h704u6qcf56hnmxx46jdlwfpw2t860ld5685s0sjzms9rqlgrPublished at
2024-08-18 16:45:14Event JSON
{
"id": "fc2582906b17f764826307a4adcac795c96c3131a897f431b18cb612b2a85e9a",
"pubkey": "0cf08d280aa5fcfaf340c269abcf66357526fdc90b94b3e9ff6d347a41f090b7",
"created_at": 1723999514,
"kind": 1,
"tags": [
[
"e",
"8de898ee80a74f2207be45d5e0dc343182af191dc64354c4c1b50e1dd1d95f16",
"",
"root"
],
[
"e",
"d41353f2974e8337ec64caff4bb54fec5c75f9e9c2e6661ee9fa0f5061492c6f",
"",
"reply"
],
[
"p",
"97c70a44366a6535c145b333f973ea86dfdc2d7a99da618c40c64705ad98e322"
],
[
"client",
"Nostur",
"31990:9be0be0fc079548233231614e4e1efc9f28b0db398011efeecf05fe570e5dd33:1685868693432"
]
],
"content": "Here is my case for why it is a technology problem:\n\nIn the “natural state” of humans, we would have little technology which preserved the value created through our labor into the future. Wealth (preserved value from a previous period into the present) would be harder to hold as it would just rot, nor could a disparity of preserved material value arise between humans as it would continually be rotted away from everyone. \n\nBitcoin would not be special in this regard it would be a problem caused by all technology of value preservation in proportion to the preservation enabled, Bitcoin would just be the latest improvement in the technology of preserving the value generated.\n\nBut if Bitcoin is the best value preservation technology so far, then the technology which preserves our labor value indefinitely, also enables the greatest miserliness.\n\nI don’t think the “selfish monk” and the “orphan” are non existent, impossible caricatures, I think I see them in the motivations of many, in the fears and ideals of Bitcoin stacking in the context hyperbitcoinization. But my error may be in treating hyperbitcoinization as a serious idea and necessary result. Perhaps that belief is not as likely as I had presumed. And so the scale of the problems in 1 and 2 may not be so great.",
"sig": "bc44c579053735be53f01d9283a37e3bd961191612d30ff3da9da85e6757b0ea24555a1bb4912303359fe182ead1df641208edffc64ba9be1004e5c978f2e0c2"
}