Below is a direct excerpt from Marty’s Bent issue 1076: “Yet another reminder that many Bitcoin reviews are below average.” Sign up for the newsletter here.
The above excerpt is from the Opinions section of the New York Times, and it’s a stark reminder of how serious many Bitcoin “critics” are. In his article published today, Binyamin Appelbaum claims that the gold standard – something that mankind has used for THOUSANDS of years – was disastrous, called private key passwords, claimed the US government can easily force ECDSA and confiscate anyone’s bitcoin, and that individuals do not use bitcoin in a self-sovereign, non-custodial manner because it is “too difficult”. A rather impressive sequence of objectively false statements.
The frustrating part isn’t that Binyamin was so terribly wrong, it’s that he was very confident in getting his fake news out in The New York Times. Confident enough to exclaim that bitcoiners are nothing more than participants in “libertarian cosplay”. I wouldn’t generally waste the One Day issue of That Dirty Rag on a particular single author review of a New York Time Opinions article, but highlight the juxtaposition of that article with the New York Time Opinions’ coverage of the Met Gala. York Times was irresistible.
The New York Times likes to portray itself as a leader advancing social justice and progressive values while telling the truth in power during chaotic times. However, if you take a close look – especially this hit piece on bitcoin and the Met Gala coverage – you’ll find that it’s the New York Times that’s engaged in cosplay, not bitcoiners.
Since January 3, 2009, bitcoiners have been working diligently; write code, build businesses, educate and erect a physical infrastructure to provide the world with a peer-to-peer digital payment system that will be used by anyone who can access the software. In the process, the network has provided billions of unbanked and already banked people with the ability to access a digital app where they can store their wealth. Not only that, but the Bitcoin network gives you the opportunity to have an extremely high degree of certainty that your part of the overall network cannot be degraded. The app has become easier to use over time as more and more people are drawn to the network and strive to make it more efficient and user-friendly. The same cannot be said of the existing monetary system, which is becoming increasingly difficult to use.
As central bankers and governments around the world continue to lose their grip on the world’s highly interconnected monetary systems – causing social cohesion – they become more serious about monitoring who is sending money to whom and how much. can spend. This results in increased data collection and filtering, making it more difficult for individuals to interact with the economy. It is becoming more and more difficult to use in this technical sense, but it also becomes more difficult to use in a practical sense, as the total number of currency units is increasing rapidly, causing the prices of many goods to rise. Either by completely excluding individuals from the digital monetary system, or by materially reducing their quality of life by making things more expensive.
Bitcoin solves this problem by providing individuals around the world with an open and healthy monetary system, but the New York Times, which is supposed to encourage the advancement of human rights, chooses to disparage bitcoin while publishing this article the same day…
The legitimate spurt of an elite costume party where celebrities and politicians signal their support for social justice while wearing outfits worth tens of thousands to hundreds of thousands of dollars with a full life cycle of 12 hours. And the wardrobe wasn’t the only thing the Met Gala celebrities waved in front of the poor, they also waved their real unmasked faces right in front of them. Apparently, if you adorn an outfit that is worth more than your average annual salary in the United States, you are naturally immune to COVID. And as long as you signal your contempt for the state of the world by including political phrases like “Tax the Rich” and “Peg the Patricarchy” on your costume, you are absolved from doing nothing. That’s enough effort. You can continue to feel good about yourself.
The funny thing is that Bitcoin is going to win in such a fantastic way because it is rooted in proof of work. Proof of work that the larp elites dependent on the Cantillon Effect cannot compete in the long term. We’re going to wake up someday, Bitcoin is going to be as easy to use as the cell phone or laptop you’re reading this rag on, the money system in place is going to be heavier and less reliable, and those who progressively think it is. they help will thank Satoshi for Bitcoin for giving them the opportunity to build a better life.