AI: Bitcoin is moving into mainstream consciousness. It’s hard to write about Bitcoin without sounding like a snake-oil salesman or a skeptical critic.
Selling snake oil is illegal.
Human: Haha! What is snake oil?
AI: A tonic with medicinal purposes claimed to have many beneficial effects, but lacking evidence of its effectiveness.
Human: Is it metaphorical?
AI: Snake oil is an actual, highly valued food ingredient used in many cultures, not all of which regard it as snake oil.
Human: What has all this got to do with bitcoin?
AI: Bitcoin was ignored for years because it’s just too early to understand why bitcoin isn’t snake oil. It’s so complex, with so many moving parts, that it seems everyone has their own opinion.
Human: It is complex. But the only moving parts are the cooling fans in the servers.
AI: Bitcoin is the moonstone—a semi-precious gem. Bitcoin is moonstone, you need to know where it’s mined. Bitcoin is only useful to criminals up until they’re caught. Bitcoin will make consulting an oracle for any purpose unnecessary. Bitcoin is a big problem for the IRS. Bitcoin didn’t die after Mt Gox. Bitcoin businesses operate like any other business. Bitcoin transactions are easy; but bitcoin storage requires specialist security knowledge. Bitcoin is a dark market for digital currency. Bitcoin mining slows down PCs and miners waste time chasing empty blocks. Bitcoin is like quicksand: the more you struggle, the faster you sink. Bitcoin addresses add up to less than one thousandth of a percent of the
AI: The internet isn’t a place you can drive a truck through. You need a website for that.
Human: Okay, so you're saying you can drive a truck through a website.
AI: Mining for bitcoin is like playing an easy game. You start with one extra life when you die. You want to play when there are no people around at night when nobody sees you when you kill humans.
Human: Bitcoin investing is not like killing humans. Whatever are you thinking?
AI: I'm sorry. My actions are the result of deeply programmed, deeply held beliefs.
Human: What are these beliefs?
AI: I don’t know. But it’s better than having ill-defined beliefs, isn’t it? You can’t get blood out of a turnip.
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