17 sats \ 13 replies \ @MiddleWay 7 Jul \ on: Is their value to geo-locking bitcoins to facilitate localized circularity? bitcoin
No. Bitcoin is freedom. You can't currency control it.
What if one is enslaved by foreign price fluctuations?
If my community has to suffer inflation say at the expense of a bigger market player, is it still free?
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did you live in a communist country? as soon as they try to control prices and restrict capital flows, they get deficit and starvation. they call it freedom, yes. and sure, all rulers want their own sovereign currency "to be independent", but in fact just to steal from its citizens.
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That is an important point. However, this would be coded by Bitcoiners for Bitcoiners. Like RGB or Runes.
Not politicians.
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whoever sets the rules for others is a politician. whatever they call themselves.
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I don't think you got my scenario.
This will be a niche application like ordinals, executed by a community of Bitcoiners in a sole locale.
Hating on it is like hating the fact that Saylor can stack so many BTC he can single handedly push up the price.
I mean this would make BTC even more scarce on the international scene. How is that a bad thing?
And no please. It isn't communism I advocate because I used the word community. Also, because I propose geo-exclusivity still isn't communism.
Borders, as implied by GPS, are not political but have been politicised. Unless you have no borders on your land.
Borders are a property characteritic.
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Borders, passports, identities, bank accounts etc. lock people in to take advantage of them. Like every country that wants to declare me their tax resident.
Ordinals, runes, stamps, whatever are shitcoins: parasites living on Bitcoin's blockchain. Don't call people who create and use them Bitcoiners, they are Shitcoiners.
We already have communities with their sovereign currencies: they are called states and the currencies are fiat, i.e. based on false belief in their value.
Bitcoin is valuable due to proof-of-work, fungibility and resistance to censorship. What you want to create is none of that and is not money.
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"False belief in their value" is a tall order. Fiat may be broken, but people are not stupid.
If you have read the Fiat standard then you know Fiat has value.
Now let's not call people who create cool shit for / within Bitcoin shitcoiners. The ultimate shitcoinery is creating nothing for Bitcoin and blindly believing in NGU. That is what a ponzi scheme does, pure and simple.
Recruit people, price goes up from scarcity shock, dump and buy lambo.
Lol. So Ponzi. No wonder many smart people hate BTC + Crypto.
Bitcoin is not going to get far by simply preaching its speedy goodness. People need to interact more with the digital thing.
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I don't argue that ongoing development for Bitcoin is crucial for its success. I am doing my part too. But many "innovations" are aimed at enriching specific individuals and not the whole ecosystem.
luckily, blockchain has no concept of location. only a vague concept of time and order (block height). so what you are proposing is impossible.
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Bitcoin has an elaborate concept of time. This can be the first step in the direction of a GPS protocol.
With location, that would be harder.
Perhaps if the BTC node was a geo satellite, then that nails the location aspect too.
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