TiMe To MeeT THe ELuSiVe SaToSHi NaKaMoTo…

TiMe To MeeT THe ELuSiVe SaToSHi NaKaMoTo…

RevCBH's picture

Jumbo, I’ve got to respectfully disagree with your assertion that Satoshi is the only real producer here. To stick with the Rand theme, think of Rearden Metal in Atlas Shrugged. Sure, it was Reardon’s genius that brought it into the world, but the honest workers in his plants were by no means parasites. Similarly miners, especially early miners, invested time, money, and technical expertise to build and operate their machines. They continue to produce real value, actual output, even though it’s one of the least understood parts of Bitcoin and similar currencies.

The fundamental value in bitcoin is as a perfect system of accounting which doesn’t require trust in central parties. Although not as revolutionary, it has paralelles to Galt’s motor in AS; it helps to disempower the leaches and moochers who thrive by exploiting central locuses of control. As the motor pulls energy from the ambient environment, Bitcoin’s blockchain generates global consensus from a completely distributed set of miners. This has never been possible before.

Galt’s gulch will likely never exist as originally envisioned; physical space is too hard to defend against overwhelming force. If the gulch appeals to you, not as a vacation destination, but as a means by which free individuals work with whomever they choose and on their own terms, then Bitcoin is very much in the spirit of Rand and the miners are the bedrock upon which that world is built.

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