[ExI] Sell your Bitcoins!

[Jason Resch]

On Mon, May 18, 2026, 4:19 PM Keith Henson <hkeithhenson at gmail.com> wrote:

> It is perhaps worth considering the "market" for bitcoins.
>
> It is essentially a way to keep governments from tracking money.


Bitcoin is very bad for that. All transactions are a matter of public
record. Most people enter and exit through exchanges which follow "know
your customer" laws, making tracing to real identities quite
straight-forward.


The
> value of Bitcoin will rise depending on how much money people are
> trying to hide.
>

Some other use cases to consider:

- Inflation hedge
- Portfolio diversification
- A means to save in a country with unstable currency
- Simplified international transfers
- Ability to save and transact in remote areas with limited access to banks
- Ability to flee country during political instability or turmoil without
losing everything
- A mechanism for non-persons (AI/Robots) to transact online
Jason


> This was the intent of Bitcoin from the very start.


> It has worked so far.
>
> Keith
>
> On Mon, May 18, 2026 at 12:36 PM Jason Resch via extropy-chat
> <extropy-chat at lists.extropy.org> wrote:
> >
> >
> >
> > On Mon, May 18, 2026, 1:28 PM John Clark <johnkclark at gmail.com> wrote:
> >>
> >>
> >>
> >> On Mon, May 18, 2026 at 10:11 AM Jason Resch via extropy-chat <
> extropy-chat at lists.extropy.org> wrote:
> >>
> >>>>> > >> You've been telling people to sell their bitcoins since 2017.
> >>>
> >>>
> >>>> >> I think you must be confusing me with somebody else, in 2017 I
> still foolishly believed bitcoin might be a net positive force in the
> world. I was dead wrong. In 2017 I never predicted the price of bitcoin
> would collapse, and certainly not  collapse because of quantum computers.
> In 2017 I wasn't certain that building a fault tolerant quantum computer
> would even be possible, much less practical. But things have changed
> radically since 2017.
> >>>
> >>>
> >>>
> >>> > On September 13th, 2017 on this very e-mail list, you wrote "If you
> ever hear that Microsoft has built a topological quantum computer that can
> factor the number 15 then sell your Bitcoins, hold onto your hat, and get
> ready for a wild ride."
> >>> Note that IBM had factored the number 15 in 2001,
> >>
> >>
> >> You think I didn't know that in 2017? That 2001 IBM quantum computer
> was NOT fault tolerant, nor did I imply in 2017 that a fault tolerant
> machine was likely to arrive soon, and if you intend to factor a number
> much greater than 15 you're going to need it to be fault tolerant; but
> today in 2026 I am saying something different, I am saying that such a
> machine will arrive soon. And when it does the shit is gonna hit the fan.
> >>
> >> As for a topological quantum computer I stand by what I wrote then, if
> somebody announces they have made a breakthrough and have invented a
> topological quantum computer then bitcoin is toast. But in 2017 I didn't
> know if such a machine was possible, and in 2026 I still don't know if a
> topological quantum computer is practical or even possible, but that's not
> the only way to make a fault tolerant machine.
> >>
> >>> > so in effect, you were telling people then that it was too late and
> to sell their bitcoins.
> >>
> >>
> >> BULLSHIT! You are being disingenuous, and that really pisses me off.
> >
> >
> > I did not know that a topological quantum computer was categorically
> different from IBM's, which was clear from my asking why I didn't know why
> it was important whether it was IBM or Microsoft that factored 15. Clearly
> then it was a misunderstanding on my part and not me being disingenuous.
> But I do consider your deleting that part of my email as likely motivated
> by disingenuous reasons.
> >
> > Jason
> > _______________________________________________
> > extropy-chat mailing list
> > extropy-chat at lists.extropy.org
> > http://lists.extropy.org/mailman/listinfo.cgi/extropy-chat
>
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