Yet another reminder that many Bitcoin critics are below average

The following is a direct excerpt from Marty’s Bent issue # 1076: “Yet another reminder that many Bitcoin critics are below average.” Sign up for the newsletter here.

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The above excerpt comes from the Opinions section of the New York Times and is a strong reminder of how bad many Bitcoin “critics” turn out to be. In his article published today, Binyamin Appelbaum claims that the gold standard – something humanity has used for THOUSANDS of years – has been disastrous, called private key passwords, claimed that the US government can easily brutally enforce ECDSA and confiscate bitcoins from anyone , and that individuals don’t use Bitcoin in an unsecured, self-sovereign manner because it’s “too hard”. Quite an impressive series of objectively false statements.

The frustrating thing is not that Binyamin was so terribly wrong, but that he was so confident when he ran his fake news in the New York Times. Confident enough to say that Bitcoiners are nothing more than “libertarian cosplay” participants. Ordinarily I wouldn’t waste a daily copy of this filthy rag on a particular review from a single editor of the New York Time Opinions, but it was compelling to point out the juxtaposition of this article with the New York Times coverage of the Met Gala.

The New York Times likes to portray himself as a leader promoting social justice and progressive values ​​while telling the truth in chaotic times of power. However, if you look carefully – especially at this bitcoin hit and the Met Gala coverage – you will find that it is the New York Times that deals with cosplay, not bitcoins.

Bitcoiners have been working hard since January 3, 2009; Writing code, building business, training, and building a physical infrastructure to bring the world a peer-to-peer digital checkout system that serves anyone with access to the software. The network has given billions of people without a bank account and those who already have bank details the opportunity to access a digital app in which they can store their assets. In addition, the Bitcoin network gives you the opportunity to have an extremely high level of security that your share of the overall network cannot be reduced. The app has gotten easier to use over time as more and more people are drawn to the network and work to make it more efficient and user-friendly. The same is not true of the established monetary system, which is becoming increasingly difficult to use.

As central bankers and governments around the world continue to lose control of the world’s highly interconnected monetary systems – leading to social cohesion – they become more serious about overseeing who sends money to whom and how much they can spend. This leads to increased data collection and filtering making it difficult for individuals to interact with the economy. It is becoming more and more difficult to use in this technical sense, but it is also becoming more difficult in a practical sense, as the amount of total monetary units increases rapidly and the prices of many goods are thereby driven up. Either the individual is completely boxed out of the digital currency system or his quality of life is significantly reduced due to the increase in prices.

Bitcoin addresses this problem by providing an open and solid monetary system to individuals around the world, but the New York Times, supposed to be cheering for the promotion of human rights, chooses to beat up Bitcoin as it publishes this article on the same day. ..


Legitimate raving about an elite costume party where celebrities and politicians alike signal their support for social justice while conjuring up tens of thousands of dollars to hundreds of thousands of dollars worth of outfits with a full 12 hour life cycle. And the cloakroom wasn’t the only thing the celebrities waved in the poor face at the Met Gala, they also waved right in front of them with their actual maskless faces. Obviously, of course, if you dress up an outfit worth more than your average annual salary in the United States, you are immune to COVID. And as long as you signal your disdain for the state of the world by using political phrases like “Tax the Rich” and “Peg the Patricarchy” on your costume, you are free from doing nothing. That’s enough effort. You can continue to feel good.

The funny thing is that Bitcoin is going to win in such a fantastic way because it is based on proof of work. A job reference with which the LARPing elites, who are dependent on the Cantillon Effect, cannot keep up in the long run. We will wake up one day, Bitcoin will be as easy to use as the mobile phone or the laptop you read this newspaper article on, the established monetary system will be more laborious and less reliable, and those who the progressives think they will help will thank Satoshi for Bitcoin for giving them the opportunity to build a better life for themselves.

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