Have you heard of Bitcoin?
If you haven't, you might want to give this a read, because Bitcoin is the apex predator of money. Let me explain you what that means and why I am making that weird comparison.
First of all, an Apex predator according to wikipedia - yeah sorry, I have to use normie websites to define things for normies - is *a predator at the top of a food chain, without natural predators of its own. Apex predators are usually defined in terms of trophic dynamics, meaning that they occupy the highest trophic levels."
The cost of attacking an Apex Predator significantly outweighs the benefits.
Let's say you are hungry as hell in the ocean and you are looking for prey. There are thousands of fish that you can focus on hunting that will be easier to defeat and acquire sustenance, so why would you even bother in hunting a Great white shark? There are plenty of easy calories around, there's no point in fucking with a white shark.
Nobody fucks with a white shark.
Now let's say you are hungry in the Savannah. You could focus on hunting a meerkat or an impala, hell you could even try to tackle a wildebeest, but you would never, ever try to mess with a lion, right?
Nobody fucks with a lion - wink wink.
Apex Predators defend their territory with the projection of physical power . While some animals are equipped with an incredible ability to avoid being eaten, Apex Predators have an unusual ability to impose a physically prohibitive cost on would-be attackers. Everything about an Apex Predator says, "You do not want to fuck with me."
Apex predators do not rely upon abstract power constructs to gain dominance. They don't argue their point. They do not negotiate. They do not write contracts. They don't use the threat of lawsuits or jail time to enforce their ownership and chain of custody. They retain dominance through the projection of real, physical power.
What does this have to do with crypto?
Most blockchain projects are purely virtual. They have no tie to the real world. They are software constructs maintained by GodKings (system administrators) who control the arena. If the arena ceases to exist for any reason, so do these virtual currencies.
They are secured by logic (code) and made-up money (crypto tokens for staking). These blockchains (most use Proof of Stake) are vulnerable because whenever the rules are untethered from the real, physical world, exploits will be found, and rules will be changed. It is inevitable because human nature is predictable. You cannot stop the exploitation of logic (software) by adding more logic. Nor can you stop humans from doing what they have an incentive to do, once they find a way to exploit the system. All one has to do for proof is look at the world of gaming which is chock full of these exploits in their respective in game currencies (Ultima Online, Diablo 2, etc).
Similarly, fiat monies are purely virtual. They exist by decree, a form of abstract power. They used to be tied to the physical world through gold and silver. Today, they are no longer connected to anything real. For this reason, all fiat currencies are fated to die from hyperinflation, or because the arena in which they exist, the nation state, ceases to exist.
Bitcoin is digital money, not virtual money. BTC is different from virtual monies because its issuance and its security are tied to the real, physical world. You cannot use logic to exploit Bitcoin, and the arena in which Bitcoin exists will never cease because its arena is the universe itself. The only way to attack a Proof of Work system is with a tremendous amount of physical power. channeled into hashes. Raw, physical power is un-hackable. It cannot be gamed, tricked, scammed or coerced.
Unlike every one of the 30,000 shitcoins out there, Bitcoin cannot be created at a whim. It can only come into existence via expensive, physical processes involving computation. Computation requires real energy from the real world.
"The only way to produce a valid proof of work is to do the work. This is what makes Bitcoin real; this is what transfers the physical limits of our universe into the digital world of Bitcoin. This is what makes Bitcoin more than a fancy telephone. Bitcoin doesn’t only connect people, but it uses proof-of-work to connect itself to the physical world."
Posted Using InLeo Alpha
Amazing!!! It calls for hard expensive work, which only gets harder and expensive to make it, with every halving. The sellers that make it at a higher price have to adjust for what they are producing it for making it and then a limitation on how much can be produced, which in turn will use the lows of demand and supply to push the price upwards further down the line.
Getting it earlier was cheaper, getting it now is cheap those that will come when 21 is done. Will have to pay a solid fortune to get there hands on a single Bitcoin
o.o so when inleo apex predator of web3 social media >.>
I agree to most points in your post. Just one thing I just dont understand about bitcoin. It has no use in itself. Same as FIAT e.g. it just gets value from the ability that others are willing to trade it. But it has no inherent use case. Only advantage is, that it cannot be multiplied in an easy way. That is a big advantage against FIAT. But can anyone tell me, why the world needs Bitcoin @ all?