13 sats \ 5 replies \ @MiddleWay 8 Jul \ parent \ on: Is their value to geo-locking bitcoins to facilitate localized circularity? bitcoin
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.
"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.
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So if some innovations are pro BTC ethos why bunch every build together into the Shitcoin camp?
People shilling frog JPEGs might be shitcoining, but Rodamor should be lauded for creating a form of uniqueness-ID for single satoshis. He is an OG. Usecase? No idea. Maybe in GTA 8 or some MMORPG or something.
Cool shit? Definitely.
Now my idea would be implemented by a community of Bitcoin devs say in SF, for themselves.
They geo-lock their coins, and supercharge silicon valley.
How would I benefit from that?
Absolutely no way, right.
Maybe get credit for a cool innovation. Like Rodamor.
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Rodamor is exactly shitcoiner
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My bad. I remember now.
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