Fun fact: Cypherpunks understood hard money, but their attempts at e-cash were based on usd or gold. They knew kickstarting new money is insanely difficult.
P2P ecash was not about inflation and central banks (well, there was gold), but about privacy and censorship resistance. That were the properties that made cryptoanarchy work.
Relying on meatspace assets makes it incredibly hard to be not shut down, but starting network effects on new assets is equally hard. In this sense, bitcoin was not inevitable, it was a miracle that it worked so well.
Juraj / Juraj🏴💛🌘
npub1m2…lr8p9
2023-06-12 10:50:43 GMT
Author Public Key
npub1m2mvvpjugwdehtaskrcl7ksvdqnnhnjur9v6g9v266nss504q7mqvlr8p9Seen on
wss://nos.lolPublished at
2023-06-12 10:50:43 GMTEvent JSON
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"content": "Fun fact: Cypherpunks understood hard money, but their attempts at e-cash were based on usd or gold. They knew kickstarting new money is insanely difficult.\n\nP2P ecash was not about inflation and central banks (well, there was gold), but about privacy and censorship resistance. That were the properties that made cryptoanarchy work.\n\nRelying on meatspace assets makes it incredibly hard to be not shut down, but starting network effects on new assets is equally hard. In this sense, bitcoin was not inevitable, it was a miracle that it worked so well.",
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