The below is an off-site archive of all tweets posted by @lopp ever

February 20th, 2014

@pmarca Are you predicting that some day the United States will become a democracy? :-P

via web in reply to pmarca

@aantonop Any recommendations for interacting with the press? I’m being interviewed on camera by local news next week.

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pmarca And yes, CrowdtiltOpen supports crowdfunding using Bitcoin! blog.crowdtilt.com/crowdhoster-be…

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@pmarca @Crowdtilt Cryptocurrency integration FTW! Great job.

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@mikestable @pmccall777 You can blame @pmarca for giving me the idea for this style of tweeting. ;-)

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Bitcoin has value for many reasons, but it represents communal resources that also have value, and it offers utility by leveraging them.

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This limitation is important because the infrastructure uses real, finite resources. Computational power, bandwidth, and hard drive space.

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This is how the network infrastructure is kept from being abused, by making its use artificially limited.

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Instead of seeing bitcoins as currency, I see them as resource tokens. If you want to leverage Bitcoin’s features, you must use the tokens.

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Bitcoin is a distributed accounting ledger and data platform. Ledger is measured in units of bitcoins, subdivisible to 8 decimal places.

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There’s much debate as to if Bitcoin is a currency or a commodity. I find it to be a currency that is built on top of a commodity.

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@twobitidiot I mostly agree, though it makes sense that they’d want a price index with an algorithm that they have defined. Terrible name.

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O creator who art in cyberspace,
Satoshi be thy name.
Your blockchain come,
many hashes be done,
on our phones, as it is on our desktops.

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I’ve been called a “Bitcoin apologist” on numerous occasions, as if this is derogatory. I assume they mean in the religious sense. So be it!

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@mikestable @gavinandresen heheheh let’s not delve into economic theory :-)

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@mikestable @gavinandresen Think of it just like seeding and leeching torrents. Why would anyone keep seeding a torrent once they have file?

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@mikestable @gavinandresen You’re jaded. It’s for the benefit of all involved! The system will be able to support some leeches, but not 100%

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@kyledrake You’re not the only one sick of them. No worries, the market will react appropriately. As you have shown. :-)

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“If you are making a profit using [open source] software, you are expected to help develop, debug, test, and review it.” - @gavinandresen

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Failure of high profile, poorly managed Bitcoin institutions will have short-term negative impact on value. But Darwinism is good long-term.

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Best Gox comparision I’ve seen: the poorly managed “Wildcat banks” of the gold rush. en.wikipedia.org/wiki/Wildcat_b…

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Mt Gox’s death spiral continues. Fascinating to watch, as there are no bailouts in the world of Bitcoin. You lose trust, you die.

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