[ExI] Sell your Bitcoins!

[John Clark]

On Fri, May 22, 2026 at 7:55 AM Jason Resch via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

*> Every single person or entity that has bet against Bitcoin has
> ultimately lost. Over and over again. Companies, governments, institutions,
> individuals.*
>

*Because that happened in the past you use induction to conclude that
"**Bitcoin
will overcome the quantum challenge as well**"; **but induction is just a
heuristic rule of thumb that usually works because most things usually stay
the same most of the time, however eventually induction will always fail,
and that's why predicting the future is so difficult. *

*Thanks to technological improvement Polaroid and Eastman Kodak stock
started out being worth almost nothing but they grew at an enormous rate
into the stratosphere. However the technological improvements didn't stop
and because of that the stock price of both companies reversed directions
and crashed down to earth; bankruptcy was declared and today both stocks
are worth precisely nothing.*

*Past consistency does not guarantee future outcomes. An inductively minded
turkey might note that the farmer feeds it every day without fail and the
bird uses that information to conclude that the farmer's arrival always
means food, and that conclusion proved to be correct for 364 days, but on
the 365th day, Thanksgiving, the farmer chopped the turkey's head off.  *


> *> Bitcoin is simply too useful and too deeply integrated into a massive
> global financial ecosystem at this point.*
>
*Useful? Using vast amounts of energy to solve silly hash puzzles is not
useful, it's equivalent to building pyramids, or digging holes and then
immediately filling them up again. Bitcoin has turned super sophisticated
data centers into overly elaborate space heaters that do nothing except
turn electricity into heat. And this ridiculous situation will not continue
forever.  *

*  John K Clark*
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