LIMINAL NEWS with Daniel Pinchbeck Brett Scott | The Seductive Emptiness Of Bitcoin
Dec 28, 2024
Brett Scott, author of "Cloud Money" and writer for the Altered States of Monetary Consciousness newsletter, discusses the dizzying ride of Bitcoin. He unpacks its evolution from an experimental currency to a powerhouse influenced by speculation and political narratives. The conversation critically addresses Bitcoin's speculative nature, its societal implications, and the contradictions between wealth concentration and economic alternatives. Scott also explores future possibilities, questioning whether the hype surrounding Bitcoin is sustainable in the long run.
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Brett Scott's Bitcoin Experiment
- Brett Scott tried to use Bitcoin as a currency in its early experimental days.
- He paid rent and interns in Bitcoin, experiencing its real-world application firsthand.
Bitcoin's Ontological Emptiness
- Bitcoin is literally just numbers written out after energy is expended to generate them.
- Its emptiness is why it's resilient yet highly volatile and inherently circular in function.
Bitcoin vs Fiat Money Explained
- Bitcoin differs from fiat because fiat is backed by the coercive power of the state and military.
- Bitcoin only has numbers but no vertical state-backed liability, making it fundamentally different.
