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Ragnarly took this down at some point (and moved onto other things). It's a lot of word play, but it's not futile even if I find the reasoning and conclusion odd.
He concludes that bitcoin isn't hard money because it doesn't fit Adam Hayes' definition of hard money. What's weird is he then calls bitcoin "metallic":
In summary, Bitcoin doesn't meet the definition of soft, hard, or sound money. Instead, Bitcoin qualifies as metallic money and peer-to-peer electronic cash. But Bitcoin is much more than both. Bitcoin meets the definition of cypherpunk money, though imperfectly.
I'm not sure calling bitcoin metallic or cypherpunk characterizes it better than hard, so maybe we should just say something more literal like "bitcoin is digital money with a fixed supply."
Given the nature of the "other things" I would appreciate if he continued to not talk about btc anymore.
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227 sats \ 0 replies \ @k00b OP 21h
Imagine my surprise when I went looking for his unarchived substack.
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18 sats \ 1 reply \ @Shugard 31 Jan
But isn't it backed by energy? So it would fit the definition again or not?
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Everything is backed by energy, though some things more than others, so I'm not sure it means much.
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