i think that is a misunderstanding 1. bitcoin is not backed by something and "proof ...

2026-03-20 18:56:49 UTC

i think that is a misunderstanding

1. bitcoin is not backed by something and "proof of work" is just a mechanism to defend the network against attackers trying to rob everyone

2. money is never scarce. the wording is misleading - i agree. only goods and services can be scarce. a limited money supply does not make it scarce, it just standardizes is - is 1lg or 1m as a standard measurement unit scarce? ...would you want constant change in what 1m or 1kg means?

Author Public Key

npub12zheqg46yezx85j39q03anhn6hws27j4u2w0ala9rmjsmvyl9u8spcd2v3

Seen on

wss://relay.momostr.pink

Show more details

Published at

2026-03-20 18:56:49 UTC

Kind type

1 Short Text Note

Event JSON

{ "id": "c7f359ab3aa4f89cd97df81bee9d46dd36c03aa91d4033938a0a603343b07ad6", "pubkey": "50af9022ba264463d251281f1ecef3d5dd057a55e29cfeffa51ee50db09f2f0f", "created_at": 1774033009, "kind": 1, "tags": [ [ "p", "47c62ea0737a6894481826b902e9acb9fb7d0719d0e24b28b71e9b50a24b5bc5" ], [ "proxy", "https://mastodon.gamedev.place/@serapath/116263027332952915", "web" ], [ "p", "cda55305912981a5600c924b4bfc559d4ac3aad8fa87441dba6e3f39baa437dc" ], [ "e", "be0dca2abe6bb0f99317b99f701598cda0c61ff6226d0e92772f9e5aa20b9c51", "", "root", "69639adc022794a94b897f8bdcac3f7644f61b2302d409ce272feb8c15900143" ], [ "p", "69639adc022794a94b897f8bdcac3f7644f61b2302d409ce272feb8c15900143" ], [ "p", "1c0126d81d347d6ebadddac05c0d3051560c03dc3cffcc69c35218794cf07683" ], [ "p", "50af9022ba264463d251281f1ecef3d5dd057a55e29cfeffa51ee50db09f2f0f" ], [ "e", "6ef4567b666550f3d9112604cc0ccb41f824a8fb63db96929efc021c24e8b982", "", "reply", "47c62ea0737a6894481826b902e9acb9fb7d0719d0e24b28b71e9b50a24b5bc5" ], [ "proxy", "https://mastodon.gamedev.place/users/serapath/statuses/116263027332952915", "activitypub" ], [ "L", "pink.momostr" ], [ "l", "pink.momostr.activitypub:https://mastodon.gamedev.place/users/serapath/statuses/116263027332952915", "pink.momostr" ], [ "-" ] ], "content": "i think that is a misunderstanding\n\n1. bitcoin is not backed by something and \"proof of work\" is just a mechanism to defend the network against attackers trying to rob everyone\n\n2. money is never scarce. the wording is misleading - i agree. only goods and services can be scarce. a limited money supply does not make it scarce, it just standardizes is - is 1lg or 1m as a standard measurement unit scarce? ...would you want constant change in what 1m or 1kg means?", "sig": "dfee04bee86f221ff4277e8c905a0ce9f66ac5f1b1fea3e180c7eaed4ecb85733803dfe7a6d0594bbe6c0617fb6a0d18769482973809afaabb4c48afef0c152f" }

𝓼𝓮𝓻𝓪𝓹𝓪𝓽𝓱【ツ】☮(📍🇨🇦) on Nostr: i think that is a misunderstanding 1. bitcoin is not backed by something and "proof ...