Bitcoin might be completely crap on the transactional side, you might have to wait 3 days for each transaction to confirm and pay 10$ : if it is a great store of value, it will succeed nevertheless, it’s market cap will become huge and we will all be rich. If it is not a good store of value (because, for exemple, it is perceived as unsafe) it will fail. Now you might think it is ludicrous ... 3. I once asked Moldbug where his Bitcoin prediction went wrong. He responded by noting the three rules of bureaucracy: in reverse order of importance, they are (3) Pursue the nominal purpose of the bureaucracy; (2) Expand your department’s size and/or budget; and (1) CYA—Cover Your Ass. It is the power of the CYA principle—specifically, bureaucrats not wanting to be blamed for killing ... 5) Bitcoin makes a large impact AND that’s just how certain USG Departments want it. Bitcoin is, more or less, anonymous… but NOT by anywhere near as anonymous as cash. As pointed out here, referencing Moldbug’s monetary restandardization post, transactions, while psuedonymous, are fully public and traceable. The bubble theory of money, which can originally be found in a few old Moldbug posts, has been used by Vijay and others to explain the emergence of bitcoin and make predictions about its future. So here is my attempt. I am using not only an article by Vijay as my source text, but also one by Koen Swinkels, a regular commenter on this blog. Both are interesting and smart posts, it's worth ... I recently set up a bitcoin miner on my gaming pc just to test it out and I can't seem to get it working. I am using bfgminer on Ubuntu and when I start it up it says this: NO DEVICES FOUND: Press 'M'... ubuntu miner-configuration gpu-mining bfgminer. modified Mar 15 '16 at 12:53. Murch ♦ 46.4k 30 30 gold badges 136 136 silver badges 407 407 bronze badges. 2. votes. 2answers 3k views ...
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