Why Nostr? What is Njump?
2024-04-02 13:39:29

Spirit of Satoshi on Nostr: ๐—›๐—ผ๐˜„ ๐—ฐ๐—ฎ๐—ป ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ฏ๐—ฒ ๐— ๐—ผ๐—ป๐—ฒ๐˜† ...

๐—›๐—ผ๐˜„ ๐—ฐ๐—ฎ๐—ป ๐—•๐—ถ๐˜๐—ฐ๐—ผ๐—ถ๐—ป ๐—ฏ๐—ฒ ๐— ๐—ผ๐—ป๐—ฒ๐˜† ๐—ถ๐—ณ ๐—ถ๐˜ ๐—ฑ๐—ผ๐—ฒ๐˜€๐—ปโ€™๐˜ ๐—ต๐—ฎ๐˜ƒ๐—ฒ ๐—œ๐—ป๐˜๐—ฟ๐—ถ๐—ป๐˜€๐—ถ๐—ฐ ๐—ฉ๐—ฎ๐—น๐˜‚๐—ฒ?
๐˜ˆ๐˜ฏ ๐˜ฆ๐˜น๐˜ค๐˜ฆ๐˜ณ๐˜ฑ๐˜ต ๐˜ง๐˜ณ๐˜ฐ๐˜ฎ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ต๐˜ธ๐˜ฆ๐˜ญ๐˜ง๐˜ต๐˜ฉ ๐˜ค๐˜ฉ๐˜ข๐˜ฑ๐˜ต๐˜ฆ๐˜ณ ๐˜ฐ๐˜ง โ€œ๐Ÿฎ๐Ÿญ ๐—ค๐˜‚๐—ฒ๐˜€๐˜๐—ถ๐—ผ๐—ป๐˜€โ€, ๐˜ต๐˜ฉ๐˜ฆ ๐˜ธ๐˜ฐ๐˜ณ๐˜ญ๐˜ฅโ€™๐˜ด ๐˜ง๐˜ช๐˜ณ๐˜ด๐˜ต #Ai-๐˜ฆ๐˜ฏ๐˜ฉ๐˜ข๐˜ฏ๐˜ค๐˜ฆ๐˜ฅ #Bitcoin ๐˜ฃ๐˜ฐ๐˜ฐ๐˜ฌ.

One of the most common critiques about Bitcoin is that it doesnโ€™t have โ€œintrinsic valueโ€. This term, popularized by goldbugs who donโ€™t know what it means, has misled many into believing that money is something other than what it actually is. Fortunately, , , and clear up this confusion in โ€œ๐Ÿฎ๐Ÿญ ๐—ค๐˜‚๐—ฒ๐˜€๐˜๐—ถ๐—ผ๐—ป๐˜€โ€, and set the record straight.

Below is Guy Swannโ€™s answer, as written in โ€œ๐Ÿฎ๐Ÿญ ๐—ค๐˜‚๐—ฒ๐˜€๐˜๐—ถ๐—ผ๐—ป๐˜€โ€:



๐—š๐˜‚๐˜† ๐—ฆ๐˜„๐—ฎ๐—ป๐—ปโ€™๐˜€ ๐—ฎ๐—ป๐˜€๐˜„๐—ฒ๐—ฟ:

Money is a good or service from a central party that acts as a ledger to distribute and ensure cooperation between members of society who do not know or trust each other. Along with a number of other characteristics that make it portable, divisible, and uniform across any amount of the good itself, the ability to act as a sound monetary good is an enormous, network-based value. It is much like a language in this way.

A language doesn't have "intrinsic value" in the sense that you can use it to do something other than its intended purpose. A language is valuable because a uniform set of words that can establish and share meaning and understanding has an incredible value by itself. In this same way, many monetary goods in the past have had little or no other purpose other than to serve the role of money. While the digital monies of today, issued and controlled by banks or governments, explicitly have no value or substance in any way at all. Yet these work until they are so badly abused that their value plummets to zero, which is the true price to create more units of a fiat money.

Fiat can be understood as a *virtual* money. It is a digital point system designed to mimic the characteristics of money, but because it is centrally controlled, these characteristics don't actually exist. They are faked by the manager of the monetary system. In this context, bitcoin can be understood as the first true *digital* money: its characteristics are real and verifiable, and it has established itself on the global stage with a substantial and long lasting market. It will either continue to grow or fail based on its ability to maintain its independence, and the core characteristics of monetary goods.



Guy Swann is host of the Bitcoin Audible podcast featured in Forbes Magazineโ€™s Top Crypto Podcasts of 2020, and CEO of One Eleven Productions. He also hosts the Shitcoin Insider and AI Unchained podcasts. He found himself engrossed in the economic experiment and technological breakthrough of Bitcoin in 2011, and hasnโ€™t been able to pull himself away since. He has a background in networking and system administration, film and media production, and is an avid student of economics. Heโ€™s literally read thousands of hours of works on the many disciplines around Bitcoin and has listened to even more. Heโ€™s โ€œread more about Bitcoin than anyone else you know!โ€



Preorder your copy of โ€œ๐Ÿฎ๐Ÿญ ๐—ค๐˜‚๐—ฒ๐˜€๐˜๐—ถ๐—ผ๐—ป๐˜€โ€, and ๐˜€๐—ฎ๐˜ƒ๐—ฒ ๐˜‚๐—ฝ ๐˜๐—ผ ๐Ÿด๐Ÿฌ%, by contributing to our initiative:
https://geyser.fund/project/spiritofsatoshi
Author Public Key
npub1tayp5jjjfqx4ufukxqamsl28wd5pggvteqe6u9n3svjn62lfr0hsp89l42