The Bizarre Rise of the 'Bitcoin Citadel' - Decrypt
decrypt.co
In search of the Bitcoin Citadel, where the 'eternal enslavement of humanity to a tiny elite' is the utopian dream for Bitcoin maxis.
  • sinedpick@awful.systemsEnglish
    7·
    11 months ago

    I wonder, in this supposed apocalyptic future, who is making the semiconductors that will be needed to secure the bitcoin network? Can it really be considered a collapse if we have a 100% working semiconductor industry? How fucking stupid are these people that they don’t even ask the first obvious question?

    • self@awful.systemsEnglish
      6·
      11 months ago

      not to mention a 100% working and unified internet; bitcoin’s continued operation is incompatible with all of the likely failure states for the fault-tolerant internet (not that we’ve really got the fault-tolerant one in operation, with how centralized the modern internet is)

  • self@awful.systemsEnglish
    6·
    11 months ago

    it’s always very funny when libertarian ancaps all simultaneously try to declare themselves the rightful king of the barely inhabitable land they’ve stolen

  • bitofhope@awful.systemsEnglish
    5·
    11 months ago

    Even when understood as appropriately dystopic, the citadel story is still sneerworthy as it gives way too much credence to buttcoins. Inasmuch as the citadel situation is not already here, it is/won’t be coiners specifically but the capitalist owner class in general that does/will lord over the rest of us in their ivory towers of paranoia and greed. That class may incidentally include a handful of coiners who beat the massive odds, but does/probably will contain more finance leeches of a more traditional kind.

    Even in its original conception the whole story basically validates a Stonetoss comic (here’s a funny edited version that probably lets you get the gist of it I’m not gonna link a nazi webcomic thanks for understanding) and that’s super cringe.

    • gerikson@awful.systemsOPEnglish
      3·
      11 months ago

      BTC/crypto is “revolutionary” in the original sense (I owe this to Mike Duncan’s podcast series). Before the French Revolution, the term meant “regime change” - the people at the top were replaced , but the system remained intact. Coiners don’t want to overthrow capitalism, they just want to replace the current people in charge with themselves.