asciilifeform: reich succeeded in jacking up btc-usd rate by flooding goxmarket w/ papercoin; after which exchrate stiffly correlated with all other reich paper.

asciilifeform: http://logs.nosuchlabs.com/log/asciilifeform/2022-01-14#1072917 << even if 100% prophetic, seems to point to even moar paperization than ever before, rather than less

asciilifeform: whole edifice seems to have been moar or less rebuilt around engineering periodic papercoin crashes, seems to be working a++ from that pov

asciilifeform would customarily add 'and only fuhrer knows whether actual or papercoin' but imho obv.

asciilifeform: even moneyed folx, who oughta know better, hooked on papercoin.

asciilifeform: moar papercoin, eh.

asciilifeform: billymg: 1 caveat is that only ~actual~ bitcoin has this property; papercoin, otoh, behaves similarly to erry other previously known type of paperism

asciilifeform: papercoin.

asciilifeform: mats: buying bona-fide on-chain coinz is for, y'know, 'terrorists'. institutions -- print papercoin.

asciilifeform suspects that the exch rate would in fact move if no one could tx for a yr or 2, and consist even ~more~ overwhelmingly of papercoin by weight

asciilifeform: i suppose there's a little entertainment in 'i sold all of my papercoin!' and 4mo later 'lemme tell you what to think about btc'

asciilifeform: http://logs.nosuchlabs.com/log/asciilifeform/2020-11-26#1025395 << depends, ~what~ exactly they're accumulating. (i.e. is it actual, not seg-shitness coinz? on trb-compat.client? and, not sitting on prb/microshit? or is it papercoin ? or which. these aint equivalent.)

asciilifeform: as for the papercoin-holding speculator scum -- imho the sooner they get the fuck away from btc -- and stay thefuck out -- the better.