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0 pointslisper8y ago0 comments

> using fiat currencies to buy the hardware and energy

The process had to be bootstrapped somehow. And given that the world's economy at the time bitcoin was invented ran on fiat currency, it's not surprising that fiat currency was used to help bootstrap the process.

> I'm not sure what your point is here.

My point is that your original claim:

> Buuuuut, they bought it with fiat currencies, in many cases USD. So... right there the entire idea breaks down.

is false. Just because the process was bootstrapped with fiat currency does not imply that "the entire idea breaks down."

0 comments

KirinDave8y ago

Did you read a sentence that you disagreed with and then immediately refused to finish the paragraph?

> A valid criticism of this argument is that it's a variant of the the serf comic argument (or genetic fallacy) in which those embedded in a bad system may not question it because they benefit from it.

I'm just saying, the idea that there is in fact an equitable pre-distribution of agency and power to draw from is fallacious. It doesn't mean we shouldn't try and create better systems; just that we shouldn't pretend such a thing existed.

lisperOP8y ago

When you begin your argument with a claim that is factually incorrect there is no need to read further to know that the argument is invalid.

KirinDave8y ago

So. You didn't read it. Proudly.

And it IS factually correct in that there was state-maintained fiat currency at the genesis of nearly every story, we just both agree it doesn't matter that much.

Consider how uninteresting this exchange is, and how much of our collective time you've wasted by not reading the entire post. You've spent MUCH more time talking with me (and I with you) than if you had JUST READ THE POST.

1 more reply

chrischen8y ago

Point is that the distribution of bitcoin wealth is wholly dependent on distribution of fiat currency wealth.

lisperOP8y ago

But that's false. You always need some capital to make an investment in anything, but anyone with the foresight to recognize bitcoin's potential back in 2010 could mine and/or buy coins essentially for nothing.

j / k navigate · click thread line to collapse

0 pointslisper8y ago0 comments

> using fiat currencies to buy the hardware and energy

> I'm not sure what your point is here.

My point is that your original claim:

> Buuuuut, they bought it with fiat currencies, in many cases USD. So... right there the entire idea breaks down.

is false. Just because the process was bootstrapped with fiat currency does not imply that "the entire idea breaks down."

0 comments

KirinDave8y ago

Did you read a sentence that you disagreed with and then immediately refused to finish the paragraph?

lisperOP8y ago

When you begin your argument with a claim that is factually incorrect there is no need to read further to know that the argument is invalid.

KirinDave8y ago

So. You didn't read it. Proudly.

And it IS factually correct in that there was state-maintained fiat currency at the genesis of nearly every story, we just both agree it doesn't matter that much.

1 more reply

chrischen8y ago

Point is that the distribution of bitcoin wealth is wholly dependent on distribution of fiat currency wealth.

lisperOP8y ago

j / k navigate · click thread line to collapse