Bitcoin Talk 004: SHIB's Sociological Significance Lies in Its Disenchantment

SHIB’s sociological significance lies in its disenchantment — in puncturing the pretence of all those who are busy for the sake of being busy, diligent for the sake of being diligent, striving for the sake of striving. Drunk, we sing; how short life is. What cures sorrow? Only sudden wealth.

SHIB: a lump of pure, clean air, free of all vulgar interests.

Behind all these coins, SHIB included, there is in fact a very dangerous logic: the transfer of the right to mint money. In truth, the order of the old world has already collapsed. The monopoly on violence was, in fact, a monopoly on minting. But all of that is gone now. Gone with the wind!

The retail smallholders have had enough of being harvested by elites riding on their necks. They want to vent, they want to rebel. They want to harvest themselves. Turn the knife on yourself; live toward death.

Dogecoin’s advantage is infinite issuance, and then independence and self-reliance. As long as Doge keeps PoW steady, its future is boundless.

“Money is no object” — that one line answers every doubt and challenge you have about Musk. The man is thoroughly roguish, a poster boy for lechery, and the ceilings he has touched are more numerous than the floors you and I have stepped on. For a strongman who is always touching ceilings and being hemmed in by governments on every side, blockchain is a nuclear-grade ceiling-smashing tool. Blockchain was born to smash ceilings to pieces.

Many people criticise Dogecoin’s issuance, but in fact, however much Dogecoin issues, it can’t compare with two-hundred-odd central banks around the world printing in unison. Doge’s issuance is predictable, so there is no information gap and no room for arbitrage. Central bank issuance is spasm-like and random — every so often it gives you two kicks. And when the central bank kicks you twice, even a whimper from you counts as disrespect toward it.

Doge’s price is the product of full contention, while fiat’s price is the product of insufficient contention. The country’s future DCEP could secretly add twenty zeros, shrinking you by 40% in an instant — the equivalent of confiscating twenty years of your life.

Dogecoin issues 10,000 coins per minute, 1,440 minutes a day (24 hours × 60 minutes), issuing 14,400,000 Doge a day. At the current price (US$0.2634), the natural daily sell pressure is only US$3.8 million. Bitcoin produces one block every 10 minutes; at the current 6.25 new bitcoins per block, 144 blocks a day, that’s 900 bitcoins a day in total. At the current price (US$62,500), the natural daily sell pressure is US$56 million. Bitcoin’s natural daily sell pressure is 14 times Dogecoin’s!