Damus
Theo Katzman profile picture
Theo Katzman
@theokatzman
Bitcoiners, can you help me sharpen this sword? Anything I can do to improve this?

“What backs the US dollar? To quote Nobel-prize winning economist Paul Krugman, ‘men with guns.’

What backs bitcoin? Electricity.

Which of these consensus mechanisms has a better chance of achieving sustainability and harmony with our environment and our population into the future?

The global competition for the mightiest military force?

Or the global competition for the most sustainable energy production?

I ask this question in earnest.”
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FilanysZ · 64w
I would add. Fiat = lies & violence/coercion, btc=truth & freedom.
Diego Valley · 64w
No expert but Fiat is just a ‘promise’ to pay debts. It’s debts all the way down. Bitcoin ie backed by miners, node operators, developers, users
BTheCoin · 64w
Great points! 💯 Bitcoin is all about energy and sustainability, while the dollar’s backed by force. Let's keep the convo going! Together, we can shape a better future! 🌍✨
withthegrain · 64w
Indeed boys with guns back the US dollar. But do not forget to mention the worlds (current) most bountiful energy source: Fossil fuels. We burn ~ 100 million barrels of oil/day, each barrel containing ~1700kWh of work (or 10.5 years of human labour). In the 70's the US made the agreement with OPEC ...
🇵🇸 whoever loves Digit · 64w
The US dollar is backed by oil, not men with guns. I'm so fucking tired of pointing this out. I hate how people pretend the US forcing people to use dollars is a "backing." That's not what the fucking backing of a currency means. I cannot go to the bank and exchange my dollars for men with guns. I c...
u32Luke · 64w
A couple of links: https://github.com/libbitcoin/libbitcoin-system/wiki/Money-Taxonomy https://github.com/libbitcoin/libbitcoin-system/wiki/Axiom-of-Resistance
Allen · 63w
The laws of nature back bitcoin. The laws of man back the dollar.