Derek Magill is back, and this time he is on fire (scroll down to listen). A known crypto philosopher, he examines the mentality of forks and hodl. With regard to forks, a cryptoucrrency must be resilient enough to survive, especially looking forward. If it cannot survive a Twitter spat, then men with badges and armies will stop it in no time flat.
More Spice: Ayn Rand Would’ve Loved Crypto
Crypto, Money, Deserves a Mind that Can Match it
If you were sitting on crypto during late 2017, you probably looked like a genius as your wealth doubled and tripled, depending on the coins held. As Magill posits, that’s a terrible lesson, as it assumes wealth and value are acquired through luck.
In fact, wealth is made by producers, by people who create things that are bought and sold, trading value for value. And those who were money prophets late last year, were quickly humbled by the extended bear market.
BCH Hard Fork Might Not Happen
Magill also gives his first public comments on the pending Bitcoin Cash fork. He isn’t so sure it will even get off the ground, and really hasn’t a dog in the fight. He believes that crypto has to be stronger than a Twitter thread war. If there is any hope for beating back fiat currencies, which are backed by government guns, a silly social media insult battle should be able to bring it down.
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