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Hello, this is James D'Angelo and welcome to the bitcoin minute.
For those who follow the motto of Groucho Marx and refuse to join clubs that want you
as a member, a new form of ultra-exclusivity might suit you just fine.
Despite what users claim, Bitcoin is the new back alley club of finance with one hellava
confusing address. And this group of new exclusives wear nerd
glasses and pocket protectors. With their mining pools, hash rates, USB ASICs,
and digital signatures these nerds have their computers yoked up and digging for geek gold.
And while it feels like monopoly money to many, a number of bitcoin nerds have already
become filthy rich. As this confusing currency is making a play to unseat gold or even the
dollar. But don't get caught by surprise. Nerd domination
is nothing new. Even if we forget the recent history of nerd
billionaires highlighted by Steve Jobs and Bill Gates, we don't have to dig too deep
to find how nerds have commanded their fair share of history.
In fact two of the most powerful families of all time were double ledger number crunching
geeks. Much like bitcoiners today, the Rothschilds
and the Medici used secret codes and decentralized networks to amass some of the greatest fortunes
in history. Indeed, the Medici were so rich, they personally
funded a good chunk of the Rennaisance. While the Rothschilds brought down Napoleon
and dictated the outcomes of major wars. But while the Medici and Rothschids were comfortable
with their greed, today's nerds are playing a different game.
Modern geeks claim they are working with full transparency and using tools available to
anyone. Tell them they are running an exclusive club
and they'll scream Bitcoin is open source, anyone can mine, and the server is run by
the masses. They ignore the fact the most of the world
is not as tech savvy as they are and bitcoin is still years away from being as user friendly
and accessible as they claim. Worse, they conveniently forget the billions
of people in underdeveloped countries who don't have reliable internet or even electricity.
They'll say bitcoin can function without phones or even computers, but that's like a bit like
a jetsetter telling others that donkeys work just fine.
Given such poor access, its believed that 80% or more of the world's population still
hasn't even heard of bitcoin. Its a troubling situation given that this
nerd mafia has already mined half of all future stocks.
Ask these hoarding geeks what the rest of the world will use and they'll tear into you,
claiming that the bitcoin protocol allows for infinite divisibility.
There will always be enough. While true, this argument paints over the
fact that a tenth of a satoshi might work great in commerce but it holds one billionth
of the value of each of their bitcoins. Sure, a billion dollars and a penny are both
liquid forms of currency but they do also define status & dictate powers.
So beware, of this nerd frenzy and don't just wait until understanding is clear. Because,
sadly, that may never happen. As the world catches up, the nerds are stocking
up, creating an Ivory Tower of money. And if all goes to plan, global nerd domination
will repeat itself once again. World power hand picked from the Usual Suspects...nerds.
Still its not yet too late. If you want to join the party and you have
trouble reading open-sourced code, perhaps we can recommend a new pair of glasses.
For some, these specs are making the future look very bright indeed.