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Peter Todd in hiding after being “unmasked” as bitcoin creator (arstechnica.com)

submitted 3 weeks ago by some_guy@lemmy.sdf.org to c/technology@lemmy.world

50 comments fedilink hide all child comments

Todd’s urgent dismissal of the documentary reads to Hoback like an attempt to throw Satoshi-hunters off the scent. “It doesn’t surprise me at all that Peter would go on the offense. He’s a master of game theory—it’s what he does. He has spent a lot of years now muddying the waters,” says Hoback. “He’s an unbelievable genius.”

I haven't seen the docu, but I did like his (Hoback's) docu about Qanon, Q: Into the Storm.

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[–] TimeSquirrel@kbin.melroy.org 15 points 3 weeks ago (2 children)

If countries are considering adopting this in their treasuries or making it legal tender, the idea that there's potentially this anonymous figure out there who controls one-twentieth of the total supply of digital gold is pretty important.”

Governments in their current form don't like legal tender they can't inflate at will. Never going to happen. People have been saying this for 14 years now. It's done, guys. Bitcoin has saturated the world as much as it ever will. It will now adopt the "Linux Desktop" status, being a small minority among every other electronic form of payment.

[–] pandapoo@sh.itjust.works 22 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

Bitcoin was never meant to be legal tender, and it still isn't.

The fact that it's now a regulated commodity is pretty antithetical to its original purpose, but still, it doesn't make it legal tender.

But setting all that aside, you're right, monetary controls are pretty important tools of a nation state... And your alternative is what? A digital gold standard based on Bitcoin....?

That idea is so idiotic, that I can't even start to write out the problems with it, because I wouldn't stop.

[–] jagged_circle@feddit.nl 4 points 3 weeks ago (1 children)

The white paper literally says its supposed to he a digital cash, which is legal tender.

And at least one country has already made if officially legal tender lol

[–] echodot@feddit.uk -1 points 3 weeks ago (1 children)

It's not digital cash it's digital gold. It doesn't have a predefined value that can be equated against another currency because its availability is limited, It's not currency it's a commodity.

It will become a currency when mining stops, when there is no more bitcoin being made and the value is set against other currencies that's when it becomes a digital currency, assuming that ever happens.

[–] jagged_circle@feddit.nl -1 points 3 weeks ago (1 children)

Wrong. Read the white paper.

[–] echodot@feddit.uk 2 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

Your know of course that what's some random crypto bro thinks about his production is not a basis of reality right. ?

Reality is defined by everyone else.

[–] jagged_circle@feddit.nl 1 points 3 weeks ago (1 children)

Lol I think the creator of a concept deserves special treatment in what they created. For example, Darwin's ideas weren't about white supremacy, even if social Darwinists used it to justify eugenetics.

[–] echodot@feddit.uk 1 points 3 weeks ago

I'm not sure I quite follow the logic there. If I hit you over the head and tell you that it's actually a prescribed medical procedure, you are still being hit over the head.

[–] jagged_circle@feddit.nl -3 points 3 weeks ago

El Salvador has taken the podium