this post was submitted on 21 Feb 2024
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Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

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[–] dgerard@awful.systems 12 points 9 months ago (1 children)

it can't be that stupid, you must be explaining it wrong

[–] fasterandworse@awful.systems 11 points 9 months ago* (last edited 9 months ago) (2 children)

On top of the libertarian agenda there is this gambling/betting agenda that is in the DNA of all this stuff. For example, immutability is a bet that the bad reasons for modifying something will always be more prominent than the good reasons. The reasons for modifying something in the future is an unanswerable question, but they've bet on an outcome. I remember reading the Arweave documentation about how they feel they can claim that it is a permanent storage solution based on tokenomics and all that shit. Just like the halvening, it's a bet that the thing will exponentially increase in relevance, usefulness, importance etc. The bet is that more people are mining bitcoin because it is becoming more important for life. It's like they're so sure of the usefulness they never bother to talk about it, instead they talk about the nitty gritty around an imaginary world where the bet has paid off.

It's like picking numbers for a lotto ticket you'll buy in 20 years time and spending the next 20 years planning how to properly manage all the money you will win.

[–] gerikson@awful.systems 10 points 9 months ago (1 children)

Funnily enough, a big cheese in the early Bitcoin era is noted crazy person Luke-Jr, who released his own fork of a client that censored SatoshiDice because he is a sedevacantist Catholic who hates gambling.

[–] fasterandworse@awful.systems 7 points 9 months ago

I know it's obvious. I'm just marveling about a subject I've avoided thinking about for a good amount of time