Neovim have a ~$800k Bitcoin donation sitting untouched since 2023

But during the big buzz, the crypto parts were what got those companies any exposure at all.

Creating a product for the sake of using a technology is a flawed order of operations. However, the glitz and glamour of a new money for a new internet is enticing with a lot of promise. I'm a crypto bro, but my crypto confidence has waned recently. My confidence in the USD has also waned.

This seems orthogonal to the ability to seize assets.

The odd part is, the governance model is not defined. At the end of the day, some person or group has to decide what the new "real" Bitcoin is and the average holder just has to go along with it.

The idea that you can put away an amount of money under your bed that buys 1,000 loaves of bread or one GPU, leave it there for decades, and then have it buy exactly the same number of loaves of bread or GPUs is a fantasy. You can hold onto the shiny rock but you cannot stop the world rotating around you and changing all its relative prices.

> For most of human history the money was stable

Achieved by a combination of restrictions on trade, price stability laws, occasional crippling shortages, and quietly shaving bits off old coins. A much poorer world.

Wildly inaccurate, thanks to forgery and coin shaving - sometimes even governments officially reduced the silver or gold content to make more money out of their coin reserves. Even when proto-banks began issuing letters of credit, the quasi-fiat letters were subject to loss of confidence.

However, the availability and quasi-fungibility of other silver/gold currencies meant that if you didn't trust Edward's penny, you could use a Dutch penning instead. That provided an alternate path to dampen inflation, as long as the dominant currency was coinage.

But it was equally hard to buy a pig or a new suit with silver pennies by the 20th century. Bank notes, even when theoretically backed by exchange for their value in precious metals (the Gold Standard), were even easier to forge, and suffered from "loss of faith" inflation (runs on banks meaning they couldn't practically be exchanged for 14 pounds of silver pennies).

The right maount of money is the amount of money we as normal humans need to work with (buying and selling stuff).

Inflation and deflation are results of too much money or too little money in comparision to the production capability of a society.

If i save today for my retirement and money gets less valuable when i'm retired, i have to give more 'saved' capacity back to get the real capacity (people taking care of me) and if i have more value, the others have to do more for me.

Controlling this is 'work' from experts and is not solved by bitcoin btw.

"Delayed gratification" is also provided by investments producing returns. An economy with lots of investors will outperform one where people stuff their cash into their mattress, and deflation makes it very hard for potential investments to beat that strategy.

> For most of human history the money was stable.

[citation needed]

The Spanish empire was driven to collapse by hyperinflation. Even in the US, there were financial collapses in the 19th and 18th century. Bank runs have been a thing for as long as banks have: https://en.wikipedia.org/wiki/Bank_run

Your premise is based on faulty assumptions. The existence of credit itself is what causes monetary instability, and without credit the world would look very different.

>For most of human history the money was stable.

Absolutely ridiculous. People have been counterfeiting and debasing money for as long as there has been money.

A healthy amount of inflation keeps the economy going.

Even your straw man 20th century cut off is hilarious where you just kind of forget about 1873? Or maybe that decade is your shining example of the benefits of deflation. So much joy and global prosperity the peasants just forgot how to eat. Its cool, Bismarks destruction of the bimetallic system really helped usher in that age of stabikity from the international gold standards.

How does that work? When inflation goes to 18%, borrowing rates go to 23%.

However I expect that adding more decimal places will actually happen, but adding extra bitcoins won't.

Suppose I make a paper wallet on an offline PC, write down the address and discard both keys. If I now send some BTC to this address, how does the client figure out the public key?

Include deaths due to poverty and lack of affordable healthcare under capitalism, overworking and dangerous working conditions, and all wars and counter-insurgency waged on alternative economic systems globally.

They all turned into paranoid dictators who did everything they could to stay in power, except for Mao who got lied to by other party leaders and regretted it in his final years. None of them represent what socialism really is. Tankies who worship them are a small minority.

Taxing unrealized gains is theft and stupidity.

It's worth saying something with real value can still have a bubble - both bicycles and the internet were huge market bubbles at one time, but they're also undeniably valuable.

Let's assume bitcoin has a tiny but positive probability of running the world economy in, say, 50 years. Ie bitcoin is a lottery ticket.

The fair value for a lottery ticket is some positive number. In 99.99..% of cases, the ticket will expire worthless. (In 0.00..1% of cases it will be worth quadrillions.)

The fair value of a lottery ticket is not a bubble, even if most lottery tickets expire worthless.

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Now, of course, it's still possible to overpay for lottery tickets. Eg if you buy an actual lottery ticket in retail, the whole transaction usually loses you at least 50 cents on the dollar for lottery taxes alone.

But that's a separate issue.

but i think the primary point of the comment was to highlight the "Bitcoin has been declared dead 478 times" part

From western perspective, maybe, but there are many people in the world who don't trust neither their government, nor western ones: Iranians, Russians, some Chinese, etc.

BTC is a nice safe place for money, which can't be touched by neither of state adversaries. Underperforming some other asset classes is totally acceptable, when your expectation for the brokerage account is effectively zero after arrest/freeze/sanctions.

"Tons" of CO2 would be an inconsequential drop in the bucket. Also cryptocurrency ≠ Bitcoin and I hate how people think the space is only Bitcoin.

That's true for bitcoin, but not for cryptocurrencies in general. Especially those that moved to proof-of-stake.

Ah yes let’s ignore the tons of energy being used in giant data centers run by visa and Mastercard to operate the payment cards used by billions of people around the world.

“Yeah no.”

You know what happened in USA? A lot of people got their cash stolen.

Your arguments are as coherent as the dissonant “Yeah no.”

But on the hyperinflation I disagree. Where did we see purchasing g power of btc to drop when currencies experience high inflation?

We have a plethora of opposite examples in various countries, and one very good global example. During covid when money printing was running full steam BTC skyrocketed and kept most of it's value.

There was a panic induced crash initially, but that recovered very quickly. Mind that sadly btc is used for speculation mostly, not as a currency so it is very prone to various panic and euphoria events. Still if you want to use it as a currency (to transfer or store wealth) independently of the banking system it is not bad.

Having said that I'd never put more than 1% of my worth in btc mainly because it's a bit archaic as far as crypto goes.

[0] https://www.goldback.com/

Nah, you would have a lot more to pay in taxes.

Might as well send it to a dead wallet, it's not real money anyway in many countries as legal tender.