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    Tuesday, October 29 2013
  • The Austin Bitcoin and Cryptocurrency Group Will Meet Tuesday, October 1, 2013

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Revenge of the Bitcoin Nerds - Will Techies Take Over The World Again?

on in Bitcoin Minute

World Bitcoin Network

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 Rothschild 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 Renaissance.
While the Rothschilds brought down Napoleon and dictated the outcomes of major wars.
But while the Medici and Rothschild 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 jet-setter 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.

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