Bitcoin myths: immutability, decentralisation, and the cult of “21 million” – Attack of the 50 Foot Blockchain

June 28, 2021 ☼ bitcoincryptopropagandaconspiracy

Source: David Gerard blog

Link: Bitcoin myths: immutability, decentralisation, and the cult of “21 million” – Attack of the 50 Foot Blockchain

Bitcoin is not about the technology. It’s never been about the technology. Bitcoin is about the psychology of getting rich for free.

People will say and do anything if you tell them they can get rich for free. You don’t even have to deliver.

Bitcoin also has an elaborate political mythology — which is largely delusional and literally based in conspiracy theories.

The marketing pitch is that the actual-money economy will surely collapse any moment now! And if you get into Bitcoin, you can get rich from this.

And crypto adherents have the audacity to call country-issued currency “fiat money” as if that is somehow bad. That is technically correct, but the money is backed by the labor of the entire population of the country. Crypto currencies are basically pyramid schemes.