[ExI] Sell your Bitcoins!

[Jason Resch]

I did not write this.

Jason

On Sat, May 23, 2026, 6:51 AM John Clark <johnkclark at gmail.com> wrote:

> 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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