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Now: do these ghastly poems have a single iota of ''[[value]]''? Outside their very real extortion potential, they do not. Does their critical ''uniqueness'' change this? It does not. | Now: do these ghastly poems have a single iota of ''[[value]]''? Outside their very real extortion potential, they do not. Does their critical ''uniqueness'' change this? It does not. | ||
There is great danger of crushing humiliation should they ever get out. So why does he keep them? The JC has wondered about this, and never managed a good answer — beyond the ''thrill'' they generate. The thrill from the singular terror that they ever be found by anyone and leaked to a disinterested world — God forbid, minted on a blockchain: encoded on every node of our future universe, perpetually inerasable part of our canon. | There is great danger of crushing humiliation should they ever get out. So why does he keep them? The JC has wondered about this, and never managed a good answer — beyond the ''thrill'' they generate. The thrill from the singular terror that they ever be found by anyone and leaked to a disinterested world — God forbid, minted on a blockchain: encoded on every node of our future universe, perpetually inerasable part of our canon. | ||
===The structural uniqueness of [[cryptocurrency]]=== | |||
Unlike any other ostensibly stable store of value,<ref>I know, I know: “stable”.</ref> cryptocurrencies have no [[issuer]], come with no implied promise, are backed by the faith and credit of no sovereign and are good discharge for personal debts under the laws of no existing present legal system — except ''El Salvador'', and I hope I am not offending anyone by wondering whether that really counts. They are the purest, distilled abstract code; their value is held aloft entirely by the prevailing consensus that “aloft” is where they should be — some threaten to escape the gravitational pull of the Earth altogether. | |||
But they are natives of the blockchain, and they are structurally unique. Is its ''uniqueness'' the explanation for the 1.15 trillion valuation of [[bitcoin]]. Have you got a better idea? | |||
{{sa}} | {{sa}} | ||
*[[Peotry]] | *[[Peotry]] | ||