Jestastic on Nostr: Successful orange pilling of a pre-coiner (PC) when I tell them I work on Bitcoin: ...
Successful orange pilling of a pre-coiner (PC) when I tell them I work on Bitcoin:
PC: What is Bitcoin? Why is it valuable? Don't you have to mine it?
First, what do you already know about Bitcoin?
(Note: this is essential so you don't just start ranting at them)
PC: (Uses a lot of energy to mine, not backed, can't touch it)
Gold is valuable, but what property makes gold valuable? Out of all the things in the world, why gold?
PC: It's rare!
Exactly. The scarcity means that to find the next unit you have to spend a lot of energy and time. People can spend their entire lives digging and mining.
PC: But doesn't it waste a ton of energy to mine Bitcoin?
Bitcoin is also scarce so finding more Bitcoin requires a ton of energy. So you have to ask yourself if it's better to use electricity to find Bitcoin or to destroy mountains by mining for gold.
(Note: this landed so hard that the rest of it was easy. We talked for another hour or so.)
Published at
2024-03-03 14:53:55Event JSON
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"kind": 1,
"tags": [],
"content": "Successful orange pilling of a pre-coiner (PC) when I tell them I work on Bitcoin:\n\nPC: What is Bitcoin? Why is it valuable? Don't you have to mine it?\n\nFirst, what do you already know about Bitcoin?\n(Note: this is essential so you don't just start ranting at them)\n\nPC: (Uses a lot of energy to mine, not backed, can't touch it)\n\nGold is valuable, but what property makes gold valuable? Out of all the things in the world, why gold?\n\nPC: It's rare!\n\nExactly. The scarcity means that to find the next unit you have to spend a lot of energy and time. People can spend their entire lives digging and mining.\n\nPC: But doesn't it waste a ton of energy to mine Bitcoin?\n\nBitcoin is also scarce so finding more Bitcoin requires a ton of energy. So you have to ask yourself if it's better to use electricity to find Bitcoin or to destroy mountains by mining for gold.\n\n(Note: this landed so hard that the rest of it was easy. We talked for another hour or so.)\n",
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}