Bitcoin

 

Hi Natty!  How are you feeling, Honey?  I hope you are feeling great and everything is running smoothly for you.  I was watching your slideshow before I started typing my little essay on Bitcoin this morning.  You have such a beautiful soul, and I love you with all of my heart.  You are the most beautiful girl in the world to me.

Let's see if I understood Bitcoin.  Bitcoin is a string of data the size of one megabyte known as a "blockchain".  This data is "mined" by computers from the global network, then the miner is paid in Bitcoin.  The data itself is transactions made in Bitcoin.  These transactions are recorded and verified by a network of computers, effectively bypassing the banking system.  There is a finite amount of Bitcoin, making it similar to gold.  This seems like a great concept, but unfortunately Bitcoin's greatest strength is also its greatest weakness: customers are humans not computers.

The first Bitcoin was worth 0.0008 USD (as far as I remember studying).  Of course this value would increase with more people "buying into" Bitcoin.  One way for a Bitcoin owner to do that is to buy one's own Bitcoin at massive amounts and prices, and do so by giving oneself loans in cryptocurrency.  Of course, interest is charged on such loans.  Banks do something similar with regular money and call it a "financial product".  And since it's cryptocurrency, one can just make up some play money then issue the loan with that.

Commodities provide the materials that make the products that cater to basic human existence (food, shelter, sex, weapons), all other products are subsidiary even though we regard them as necessary.  Especially in this tech era.  Then we need money to buy these necessary and unnecessary things.  Unlike agriculture, interest and cryptocurrency don't offer anything material: they just provide the money to buy it, if it were available.  You can't eat Bitcoin.  Then the excess money in the hands of the few creates a glut, and now we have global inflation.

So what's the solution?  Obviously, a global blanket abolition of interest.  Which of course, is impossible.  Not only because it messes with the food, shelter, sex and weapons already paid for, but because of the mentality of greed: a solution is NOT a solution if it didn't facilitate profit.  The other side of the coin is to get our asses kicked by ourselves.  And all humans understand getting their asses kicked.  I'm sure they would say the same thing they said in 2008: "Bring it on!"  As for Bitcoin, perhaps there could be an AI to investigate and arbitrate each transaction to weed out any human corruption.  Ahahahahaha....

Mary's outfit is:

:*BABY*: Sparkling Sky Lipstick

*XO* Bunnyheels

BETRAYAL. Adeli Top PSYCHO

MH-Natalie Denim Skirt

JellyRoll - Erica Hair

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Here are my picks from the Christian Dior FALL 2022 READY-TO-WEAR collection: