americanpegasus
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The reason people have trouble understanding why bitcoin has value is the same reason they fail to understand the brain.

Thu Nov 05, 2015 2:23 am

There's something about human psychology that demands a "stack of turtles" for all of our beliefs about the world. It was unthinkable for early man that their planet might hang in the nothingness of space, self-sustaining due to the gravitational equilibrium of its components.

No, there must be something supporting it... turtles or the shoulders of a Titan or something. How could our world rest on nothing? It was absurd.

Then came democracy. The idea of a population ruling themselves was offensive and ridiculous. God had appointed the King as the divine monarch, and that's where rule came from - a divine outsider who 'propped' up the value of the system.

"Every system must be backed by something!" learned men of the 18th century likely cried. "What backs up this silly idea of an American democracy? Nothing, that's what! And that's why it will never work!"

Welcome to the future. More and more we are realizing that systems can be self-sustaining without any outside prop of value at all. Bitcoin will be one of the ultimate and final shatterings of this illusion that mankind has regarding where systems derive their value. We will finally be forced to face the fact that a system of objects with defined rules can interact and generate self-sustaining value all on their own without any outside 'peg'.

To many of us still, the idea that our brain sustains sentience without anything extra-dimensional or spiritual supporting it seems ridiculous. But it's true. The many billions of neurons in the brain act according to a precise system chiseled through millions of years of natural selection. The net result isn't a sum of the parts - it's an exponent of them. It's what makes you, you.

You don't need anyone to assign you value. The fact that your billions of neurons all understand and abide by the rules that allow them to transact energy gives rise to a mighty consciousness that, as far as we know, is the most intricate object to ever come into existence.

And Bitcoin will be no different.

Bitcoin doesn't need to be backed by gold, or a government, or banks. Bitcoin is a network of addresses, inputs, and outputs, all linked by precise mathematical laws that allow them to transfer information between one another. From this seemingly simple premise arises a behemoth of value like nothing civilization has never known before.

The truth is, it's not turtles all the way down. That's a caveman's understanding of the universe. In reality, when a system abiding by set mathematical rules acquires enough energy, sustained fusion erupts from it.

In the case of matter and gravity, that fusion is nuclear starlight. In the case of a democracy, that fusion is a world superpower. ...And in the case of bitcoin and productivity, that fusion will be a financial supernova unlike anything our civilization has ever witnessed.

Get ready, because though we can't be sure where the critical mass for bitcoin lies to enter this chain reaction, we know for a fact that it's coming.

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Chakra74
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Re: The reason people have trouble understanding why bitcoin has value is the same reason they fail to understand the br

Thu Nov 05, 2015 3:29 pm

I'm glad you're posting over here Americanpegasus. I've always enjoyed your posts. Thanks for twisting our minds and perceptions of things again.

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LiteCoinGuy
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Donate BTC of your choice to 1Dbo5TtxG9cWoyw49GM8vbD7HgQhr1KVi6

Re: The reason people have trouble understanding why bitcoin has value is the same reason they fail to understand the br

Thu Nov 05, 2015 5:10 pm

good read, you should add a bitcoinaddress too :)
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More informations about Bitcoin and scaling BTC on

bitcoin.org/en/

https://bitcoincore.org/en/2015/12/23/c ... reases-faq

&
reddit.com/r/Bitcoin/

Denker
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Re: The reason people have trouble understanding why bitcoin has value is the same reason they fail to understand the br

Thu Nov 05, 2015 5:42 pm

Pegasus is one of my favorite.Always great and entertaining to read his posts.Thumbs up!

americanpegasus
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Joined: Tue Nov 03, 2015 6:54 pm

Re: The reason people have trouble understanding why bitcoin has value is the same reason they fail to understand the br

Fri Nov 06, 2015 2:39 am

good read, you should add a bitcoinaddress too :)
But then my words would seem as if they are backed by something. :D ;) I'd rather they stand on their own.

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