Crypto Debate

Yes yes, I agree with you that it requires a western style mindset.But I guess that was point as well, that we still are being ruled by the standards of the west — even in Africa — and as long as we are, then having that proof of title or ownership can go a long wayYou can also use it to work on a person’s sense of worth and dignity. If you can convince him and, say, people higher up the food chain that you are the rightful owner and how would they feel if something were taken from them, stolen, etc. You might make headway.But of course, if you are dealing with people of bad character or who are not dealing in good faith, the proof of title won’t mean much. I doubt the ((()))) with give two hoots if they confiscated my property and I have title and a legitimate claim.

Here’s a recent news item. Some of you will hate me because it seems like I’m showing another historical abuse of Blacks. I am, but for teaching purposes.https://www.cnn.com/2021/04/12/us/bruces-beach-los-angeles-county-black-family/index.htmlLet’s leave the racial discrimination angle out of it. What is unusual is the vast amount of time before the government returned the property. The plantiffs had some brilliant lawyers if nothing else. Almost surely, this is yet another example of a local government virtue signalling.Of course, eminent domain is a legitimate power of government. But it has a long history of being misused; I’d argue that the LA example was one such. To state the obvious, a century ago, Negroes were undesirable, lacked the legal protections that came later, and the White dominant power structure did what it could to remove them.In theory the property owner received fair market value at the time of the taking. For all I know, that happened but beyond all doubt, it was a niggardly sum. Today’s administators clear see it as a black mark on their heritage and are making perceived reparations for brownie points.The point is that the government did, does, and will be completely arbitrary in the way it enforces the laws, such as property rights. I too value living in a time and place where the “rule of law” is (usually) honored. I think that’s under attack. In coming years, I think we’ll see a continuing erosion of property rights, along with the other deterioration we’re seeing.As Whites, we can expect to be the new group discriminated against. White is the new Black, you could say.Whether we will — or even can — do anything to roll back the tide remains to be seen. 🙁

Falcone;Bingo_! You have put your finger on the main hidden vulnerability of Bitcoin, et al, namely that its very existence depends on steady electrical power. Hell, most of *all* of our existences depend on it.Z Man has almost persuaded me that Bitcoin could be a speculative asset for (very) limited investment, but I’ve got a, ‘I’m too late to the party’ problem, I’m pretty sure.But under *no* circumstances could it be a hedge against serious social disorder. You’d do better to stockpile bullets for barter. Think about it: Aside from not being legal tender, bullets (actually cartridges) have many of the useful aspects of ‘money’ such as long life, easy to spot counterfeit, limited supply (apparently)…An excellent and informative session, BTW.

Ironically, bitcoins huge and growing energy requirement is driving a green energy revolution. It requires the cheapest electricity and is constantly looking for cheap, stranded energy.