The “thesis” of Jason Lurie’s show is a complete joke. It’s a mixture of incoherent, and subtly, arguments about cybersecurity and rehashing of old discussion topics that were thoroughly explored a decade before Jason Lurie became a name anyone in the field knew.
First, let’s look at the nonsense of nation-state mining “defensive weapons.” Incentivizing nation-states to mine, or subsidizing mining in their jurisdictions, is not a new idea for Jason. It’s a widely discussed dynamic that dates back to 2011-2013. Essentially, every Bitcoin user since that time period who was involved enough in the industry to study and discuss where things were going long-term would have taken into account the dynamics of the countries involved in mining if Bitcoin was indeed successful in its long-term growth.
If Bitcoin becomes geopolitically important on a global scale, nation-states will always be interested in the mining sector. Nation-states are involved in regulating and producing all major commodities, from gold to oil and natural gas. This is not a new thesis or idea, it is common sense that has been obvious to every random geek who has been in this space for over a decade.
However, the aspect of securing data with Bitcoin is patently silly and incoherent. Bitcoin does not “secure” data. It can put a timestamp on the data, but that’s not a magic guarantee of security. It does absolutely nothing to protect data from exfiltration (access and copying by unauthorized people), nor does it guarantee integrity or accuracy. All data on the blockchain is publicly available to anyone running the node. The idea that Bitcoin is useful for controlling access to information is ridiculous. By its nature, anyone can access any data placed on Bitcoin. That’s the foundation, everything is open and transparent so it can be verified.
So let’s talk about paywalls, APIs, and meaningless nonsense like “digital energy.” Lowry’s next big leap is that charging Bitcoin for API calls improves security in some way. This is complete nonsense. Access to the API is restricted for two reasons, 1) to manage resource usage and prevent waste, or 2) to allow only specific individuals whom you have authorized to access the API. Bitcoin can help solve the first problem a little, but it does absolutely nothing to help solve the second.
Even monetizing the API with Bitcoin doesn’t really help protect resource management from DoS attacks. People can still send packages to your device without paying anything. These packets still have to be diverted or managed by traditional DoS systems, which typically work by hacking or redirecting packets away from your system. Bitcoin payments do nothing to eliminate the need to do such things.
The money that anyone can take does nothing to restrict access to the system Only specific people you want to access this system. Encryption does that. Passwords do that. The technologies already exist completely independently of Bitcoin and do not need it. Not to mention that even with these systems implemented correctly, The hardware and software on the system that is secured is ultimately what secures that system. People don’t fail to hack a server because “Bitcoin protects it”, they fail because the security systems on that server are implemented properly.
Bitcoin, and even proper encryption without Bitcoin, does nothing to keep a system secure when implementations are done incorrectly or when there are flaws in those systems. This is the root of cybersecurity, and Bitcoin does absolutely nothing to change it. It does not help that the hardware is flawless, or that the security software is error-free. This whole aspect of his “thesis” is completely incoherent gibberish, and makes no logical sense at all. It’s a trick to fool people who don’t understand these things and build a reputation by hiding incoherence and incompetence behind encouraging ignorant people.
And all the “Bitcoin will stop wars” nonsense because nation states will compete in mining against each other? funny. Bitcoin mining will not change geopolitical competition over farmland, natural resources, tactical military sites, or anything over which nation-states go to war. It is a pure illusion.
Jason Lurie doesn’t have a “thesis,” he has a pile of incoherent garbage cobbled together around a single observation that countless Bitcoin users had a decade before he entered this space. It’s a complete joke, and anyone who buys it proves they have no critical thinking skills or knowledge of the relevant subject.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
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