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Issue #669: Digital scarcity can't be regained

Issue #669: Digital scarcity can't be regained

Feb 7, 2020
Marty's Ƀent

Issue #669: Digital scarcity can't be regained

Never a bad day to remind you freaks that Bitcoin's privacy assurance may be subpar at the moment, but they have gotten better over time and will continue to get better moving forward in your Uncle Marty's opinion. There are a lot of people who like to concern troll about this fact - mainly, people who have a shitcoin to peddle - but do not let them scare you with the FUD.

As our friend hodlwave points out, this tradeoff is acceptable to a lot of bitcoin users today, myself included, because perfect privacy can be recaptured in the future with CoinJoins, a combination of new advancements at the protocol level, and better user practices as Bitcoin moves closer to a close looped system disconnected from the traditional financial system, which is the main link to individuals' bitcoin today.

The same cannot be said for Bitcoin's supply cap. If that is ever deprecated, it will destroy confidence in the whole system because once the precedent is set, there is no reason that it won't be further deprecated after that point for "reasons" that cite the precedent. If we were to throw perfect privacy at the protocol level with the current tech that exists today, it would be very hard to ensure that the supply cap hasn't been bastardized.

From a first principles standpoint, your Uncle Marty thinks it is most advantageous to protect the supply cap at all costs while we move towards better privacy over time, which, again, seems to be happening.

Don't let impatient people and altcoin shills scare you away from your sats.

Final thought...

Could really go for a Schmitter right now.

Enjoy your weekend, freaks.


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