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Bitcoin is Venice: Difference between revisions
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==== Bitcoin as a token capital ==== | ==== Bitcoin as a token capital ==== | ||
{{Drop|[[bitcoin|B]]|itcoin is ''capital'' | {{Drop|[[bitcoin|B]]|itcoin is ''capital''}}, then, not ''currency'', at least not as we are used to thinking about it. [[Bitcoin]] is more like ''gold''. | ||
Its scarcity is more or less fixed, and it gets progressively harder to extract more of it from the earth. In this way the “mining” [[metaphor]] is correct. It holds its value wherever it is. It does not depend for viability or validity upon the “implied violence” of central banks, nor the indebtedness of investment banks nor the custody and connectivity of other [[Rent-seeking|rent-extracting]] intermediaries. You can take it, sort of, off the grid. | Its scarcity is more or less fixed, and it gets progressively harder to extract more of it from the earth. In this way the “mining” [[metaphor]] is correct. It holds its value wherever it is. It does not depend for viability or validity upon the “implied violence” of central banks, nor the indebtedness of investment banks nor the custody and connectivity of other [[Rent-seeking|rent-extracting]] intermediaries. You can take it, sort of, off the grid. | ||