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And here is another explosive "blast from the past" post from Mircea Popescu's blog - Trilema. I am re-posting it here, for posterity, in case his Trilema blog get nuked. Source link here - 18 Oct 2016
I think this post is targeting all those that still use such fiat cards and especially the ones so called "bitcoin / crypto debit cards".

People in the habit of using their brain often laugh at poorly specified, horrendously designed, shodily implemented altcoins, and for good reason - there's apparently no shortage of these end products of an ambitious process which included no thinking whatsoever. Credit cards are perhaps the most egregious example of them all.
According to the whitepaper, a credit card is a paper wallet which may contain one single address. The address is composed of 16 numeric digits, which are usually formatted with three dashes, and it is secured by a "secret" private key which is... four digits long. To further securitize this secure security, a three digit super-key is printed on the back of the paper wallet in question, and that's it, you're good to go!
How is this abomination to be used in practice ? Oh, that's simple - just like its users. For instance you can walk up to a machine, stick your paper wallet into it, and then type the private key. Yeah, that's right, you type your private key into a big box you don't own, nor control in any way, and can't inspect. What protects you from the owner of the machine selectively scamming ? A shoddy, slow, bug ridden, unauditable, ad-hoc reimplementation of the common WoT.iv And if the operator decides to charge your card twice, or fifty billiard times, the best you can do is call an Indian. They'll be thrilled to listen and eagerly try to help! Have you tried rebooting your credit card wallet sir ?
What protects you from someone spying on you while you put your private key in ? Nothing. This actually happens all the time, it's called "credit card fraud" - because evidently making the world's worst altcoin and pushing it on naive people is no kind of fraud. Fraud is only when the wind blows over a rotten reed, not when the reed was rotten in the first place!v
But suppose you don't want to do that. What else can this altcoin be used for ? Why, you could pay for your meal! Like, walk into an eatery, hand over your paper wallet to an overworked, underpaid, sub-minimum wage worker who depends on tips to survive and works such impossible hours in such miserable conditions he's about 17 times more likely to abuse psychoactive substances than the general population. Then you tell them your private key. The private key to your only public address which holds all your funds. What prevents them from making a copy ? Nothing whatsoever, this also happens all the time (credit card fraud, remember). What prevents the eatery from double charging ? The WoT which they don't call a WoT, nor does it really work.vi
How about forgetting all this silliness and just using your own computer to make payments, you ask ? Why of course! The credit card altcoin has a system for you to do just that, whereby... you send your public address, along with the secret key and the super-secret key to someone's server. In plain text.vii What prevents anyone and everyone from spying on you ? Why... nothing, of course. They'd... they'd never dare do that! And the fact that they dare, each day every day, to the tune of billions doesn't prove anything! Hillary Clinton 2016!
What prevents the server in question from being compromised ? Why, there's a special organisation dedicated to giving out a little icon they can put on their webpages. Yes, that's right, just like in the days of Altavista and Jukt Micronics, they get a little gif trophy! At least it's not animated.
What prevents the server in question from retaining your private key and then being later compromised ? Oh, that's easy, credit card altcoin wallets expire. Your lord will provide you with... another credit card altcoin wallet upon the expiration. You can even keep your public key, they'll just issue you new secret and supersecret keys. What's not to love ?!
Well, perhaps the fact that in a doomed quest to "prevent fraud", the lords of the alt-republic implement all sorts of idiotic policies, ranging from randomly and arbitrarily "rejecting" credit card altcoin wallets to see what happens (laugh all you want - but it happened to Bahamas, and it happened to you) to requiring pictures with a halibut on your head.
Credit Card Altcoin users verifying their iden-titty.
The special streamlined identity verification process for Credit Card Altcoin businesses
The only thing this idiocy has going for it is that it's widely used. This happens to also be the only thing this idiocy has going against it - as the moral obligation of every thinking man to "defraud" this nonsense (in the sense of separating the idiots involved from any sort of usable contents they may be carrying) becomes ever more obvious to the thinking men in question, the credit card altcoin will cry foul, be forked and the the forks forked, but eventually wither and die.
Because when it comes to money, there can only be one.

I'm surprised he didn't also discuss the way they ask for your address as yet another "security measure."
Love the concept of credit card as a paper wallet, though. You always remind me that I need to spend more time reading trilema.
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some pieces on Trilema are like...
During years reading it, I saved a bunch of posts in my bookmarks.
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0 sats \ 4 replies \ @Fenix 20h
I need to spend more time reading trilema.
I’m trying to figure out what that site is exactly. I never saw or hear about before.
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You are new in Bitcoinlandia? Trilema is a blog by Mircea Popescu, one of the biggest OGs and most toxic bitcoiners ever existed. He have over 1M bitcoin. He run also an exchange in Romania and allegedly died in a boating accident in Belize. But who would believe that?
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0 sats \ 2 replies \ @Fenix 20h
Yes I’m. Ok, I have a lot to digest from this comment. Bitcoin is so new and already have so many history to tell.
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0 sats \ 1 reply \ @Fenix 20h
“Bitcoin is not here for you to opine about it. Bitcoin is here to profoundly and oft times painfully change your life,” he wrote. “Whether you agree or not, whether you give permission or not, whether you think it ‘acceptable’ or ‘called for’ or whatever else. Nobody asked you.”
This is so true. I need to know more about this guy.
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I posted some of the important pieces from M.P, on SN:
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21 sats \ 0 replies \ @Fenix 20h
Thank you for sharing, bookmarked. Fiat payments system are so ridiculous and they are so confident in their authority myth that it could be simple and full of holes that ppl will use it because they can’t handle their own responsibility on their real own money as bitcoin.
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Yes all true and tragic as it is, they still have a near monopoly over MoE global acceptance. Because the fiat debt slavery bankers cartel own the governments. Very few businesses/retailers accept Bitcoin.
In most of the world Bitcoin is banned for payments. Even in the so called liberal western democracies BTC MoE is so obstructed that few businesses dare accept Bitcoin as a payment option. This is the problem. The bankers own the governments. We cannot all live in a sackcloth Bitcoin citadel eating berries and game.
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In most of the world Bitcoin is banned for payments.
Then most of the world will be poor. It's all part of the process.
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Can't follow your logic...because there is none. You do not support your assertion with evidence or logical argument. You assert that Bitcoin MoE must inevitably result in superior economic performance and yet the global fiat debt slavery extraordinary privilege exercised by the USA has supported and extended its empire, power, hegemony and wealth for many decades compared to if it had reamined on even a nominal gold standard as was the case until 1971. Please explain how BTC MoE must inevitably result in stronger economy- but I am assert that you simply cannot do that.
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The protocol inevitably results in a higher price because there's a limited supply. From the subjective view of the individual holder, their economy became stronger because their stored energy increased in purchasing power.
yet the global fiat debt slavery extraordinary privilege exercised by the USA has supported and extended its empire, power, hegemony and wealth for many decades compared to if it had reamined on even a nominal gold standard as was the case until 1971
There's a lot of factors that go into US hegemony. My point is that the price of USD is going down. The price of every fiat currency goes down compared to BTC because the government currency is getting stealth taxed. So if everything else goes to zero, as designed, then Bitcoin is the only surviving currency. The economy overall has to be considered separately, because the trend to BTC dominance was inevitable.
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I agree with you up to a certain point. Yes, fiat tends strongly toward debasement as the privileged operators (bankers and governments) can and do almost always abuse this privilege they possess of leveraging the savings of all their captive citizens. But as you acknowledge there are multiple factors involved in hegemony- hegemony gives you advantage- you can set the terms of trade, you can force all other nations to denominate trade payments in your currency or risk sanctions, you can do a whole fuck of a lot of market rigging BS when you enjoy hegemony over other nations- and they all do it! So in the real world power and wealth is not distributed in a fair and free market- it is to a large extent distributed via dictates issued and applied by the dominant power. Military force or the threat of it over rides pure free market mechanisms. In this real world where nation state power projection is at least as important as free market forces fiat money bolsters a nation state power projection capacity and as a result bolsters the wealth and security of its citizens. Not to say I do not love the ethics and fairness implicit in Bitcoin- but to acknowledge DNA and survival of the fittest is a fucking ruthless imperative...and its the one we are dealing with. Can Bitcoin fix this? The honest answer can only be a hopeful and optimistic, maybe.
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In this real world where nation state power projection is at least as important as free market forces fiat money bolsters a nation state power projection capacity and as a result bolsters the wealth and security of its citizens.
Before the state does anything, there's a transfer of wealth from nation to state. The state is its own beast. It's a parasite-host relationship. As long as the distribution of wealth is a collective decision, that means citizens have no wealth and no security of their own.
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No- it is a symbiotic relationship. Like Algae. Like life. Like DN fucking A
'Living organisms have never been solitary individuals and symbiotic relationships are challenging our very conception of the individual. Symbiosis, initially defined as a living together of different organisms (De Bary, 1879; Raval et al., 2022) represents a range of complex and intermingled relationships (mutualism, commensalism amensalism and parasitism). Although actively debated with numerous theories on the origin of eukaryotes, it is widely accepted that a metabolic symbiosis and successive endosymbioses were important in the evolution of eukaryotes and their diversification (Hartman and Fedorov, 2002; Sapp, 2004; Embley and Martin, 2006; Cenci et al., 2017; Sibbald and Archibald, 2020; Gabaldon, 2021). Thus, symbiosis conceptually challenges our view of the processes of evolution, beyond mutation, recombination and natural selection (Margulis and Fester, 1991). The most studied symbioses involve complex eukaryotes and microorganisms in both terrestrial and aquatic habitats (Bais et al., 2006; The Human Microbiome Project Consortium, 2012; Blackall LLW, 2015), but a growing number of studies reveal ubiquitous symbioses among microscopic life forms (Decelle et al., 2012; Foster and Zehr, 2019). With its diversity and outcomes combining metabolic capabilities of interacting partners, symbiosis is recognized as the most important evolutionary process that has allowed the appearance of new genomes/species throughout the history of life on Earth (Kiers and West, 2015; O’Malley, 2015).
Some symbioses are key to the existence of entire ecosystems such as the interactions underpinning the success of coral reefs, the cnidarian-algae mutualism that provide habitat for roughly one fourth of all marine life (Blackall LLW, 2015; Frankowiak et al., 2016). In this symbiosis, metabolites from the animal host (corals, sea anemones, jellyfish, and hydrocorals) are exchanged for microalgal exudates (Davy et al., 2012). Another symbiotic interaction that deserves greater attention in microbial networks is between parasitic fungi and phytoplankton as it has a significant impact on ecosystem functioning. These symbiotic interactions cause the transfer of photosynthetic carbon to infecting fungi and the stimulation of bacterial colonization on phytoplankton cells, altering ultimately bacterial community composition and subsequently carbon flow (Tourneroche et al., 2019; Klawonn et al., 2021). Although artificial, a beneficial symbiotic interaction was reported between the freshwater chlorophyte, Chlamydomonas reinhardtii and diverse ascomycete fungi that provide nitrogen to the algae (Simon et al., 2017). Recently, similar artificial symbiosis was reported in the marine microalgae Nannochloropsis oceanica and a terrestrial fungus, Mortierella elongate. Here, an unusual interaction takes place as functional algal cells are included within fungal mycelium, while in all known algae-fungus interactions, the algal cells remained external to fungal hyphae (Du et al., 2018; Du et al., 2019). This study showed the stability of the interaction with a bidirectional exchange of nutrients suggesting this could be the beginning of an endosymbiogenesis within eukaryotes.
Despite this recent recognition and striking importance, symbiosis received less attention compared to other fields of investigation and remains largely unexplored in particular in aquatic biota where the nature of the environment, fluid, represents an additional challenge. The advent of symbiosis as a critical area of research is challenged by the difficulties in maintaining symbiotic partners/holobiont alive in lab cultures, in particular for obligate interactions when both partners are dependent on each other for survival. Often, commonly used culturing techniques are not suitable to species in symbiotic relationships. The lack of knowledge about their genome background and metabolic capabilities, to predict their nutrient requirements and culture conditions, hinders the progress in this field. However, recent and rapid advances in whole genome sequencing of either individual species and/or meta-communities helped to overcome some of these bottlenecks, using data mining for designing custom based media that fulfill the needs of symbiotic organisms (Leon et al., 2014; Jaswal et al., 2019; Lugli et al., 2019). Another fundamental boost is undoubtedly the existence of established model organisms that open up novel avenues of investigations, which would otherwise be impossible or at least difficult to achieve. A recent study that used both metagenomics sequencing and a model species, the diatom Phaeodactylum tricornutum, successfully identified an overlooked symbiosis between microalgae and non-cyanobacteria diazotrophs (NCDs) which challenges the long-held paradigm of dominance of cyanobacteria interactions with microalgae over NCDs and brings the first hints on how heterotrophic proteobacteria thrive in surface waters and oxygenated areas (Chandola et al., 2022).'
Biology is the basis of economics.
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I'm going to start linking this as a comment under every anti-bitcoin post I see.
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