[ExI] Sell your Bitcoins!

[John Clark]

*My apologies. Giovanni Santostasi <gsantostasi at gmail.com
<gsantostasi at gmail.com>> wrote it.*

*John K Clark*


On Sat, May 23, 2026 at 8:34 AM Jason Resch via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

> 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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