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10 sats \ 0 replies \ @DemandUtopia 30 Sep 2022 \ on: What was your first reaction that lead you to initially dismiss Bitcoin? bitcoin
I already was an an-cap libertarian and into Austrian economics when I heard of Bitcoin in 2011. I dismissed it at first since I thought "it's digital, therefore it's not scarce, therefore it can't be a money (following from principles of Austrian economics)"
During the early-2013 bull run, I took another look at it and understood how the 21 million BTC cap works. As soon as I understood that, my reaction was "well, this is the end of the nation state as we know it." I've been a maximalist since then.