If you don’t like the state (read: if you don’t like paying taxes or welfare) its backing of money will seem monstrous to you. Returing to a real physical substance as a store of value is politically infeasible because we know what the banking system was like in the nineteenth century and there’s already a term of abuse for goldbugs.

So: push the store of value from the politics layer of the network diagram into mathematics. Nerds love mathematics because it’s the ultimate basis of Truth (hi Badiou) even though, trade secret, lots of coders aren’t that good at it and resist applying it to their craft, although they maybe got high marks for it at high school, but never mind that, the mundanes all hate it so it’s ours, right?

Except that digital currencies aren’t made of mathematics, they’re made of code. Politics and banking systems can be reformed, their mistakes can be corrected, you can have a revolution: but try doing that when external social instutitions have been deliberately engineered away and the founders hold the secrets which determine scarcity. Too bad: you’ve taken all that messy stuff about duty and responsibility, the ability of your hypothesised future society to correct its mistakes on a multitude of scales, and buried it inside something even more messy and intractable, an open source software project.

NERDS: software is a garbage fire and I hate my life for working in it

NERDS: let’s make it what the whole economy is based on

So your eternally scarce and pure and non-statist store of value is just as vulnerable as anything else, but it’s a lot harder to fix. Lay up not for yourselves treasures upon earth, where moth and rust doth corrupt, and where hackers break in and tweak the parameters on the very atoms thereof, so that they are rendered worthless.

Congratulations, nerds: you’ve invented hackable gold.


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