[Arm-netbook] EOMA68 / Libre RISC-V team financing

[Jean Flamelle]

Bitcoin is hyper-deflated due to over speculation.

With 16.7 million bitcoin across 21 million wallets lets say averaging
1.2 wallets per person meaning very roughly ~17.5 million wallets
within a deviation of that statistic probably close to +/- 2.5
million, leaves between 1.114 btc and 0.835 btc per person. For
comparison: 1.55 trillion usd across 326 million citizens ( generously
disregarding the petro-dollar attribute ), leaves about 4.7 thousand
usd per citizen. If every bitcoin wallet owner considered spent
bitcoin exclusively and with the same purchasing power as the average
us citizen and with the same habits, the tangible value of between
1.114 and 0.835 btc would be approximately 4.7 thousand usd. None of
this is the current economic reality though, as a very miniscule
percentage of wallet owners actually survive by spending bitcoin.
Additionally the petro-dollar trait increases the population which
owns primarily usd significantly about the us population, which would
increase its value and thereby decrease bitcoin's relative tangible
value. So this valuation is very generous in favor of bitcoin, to say
the least.

Many of the transactions done in bitcoin are black market, which is
showing increasing demand for switching to Monero ( a currency which
launders as a part of the mining operation at a high risk of losing
portions to malicious attackers ). This switch may help bitcoin with
legitimacy issues, but also may not if both currencies share
popularity. Either way so long as some interest in Monero exists, that
is a cut in value.

Many of the detractors uninterested in bitcoin's effect on crime, will
argue the ecological effect of crypto-currency mining procedures
through massive electrical requirement. Most of these detractors may
be satisfied once Ethereum implements the first large scale
proof-of-stake algorithm which requires only execution of the
transaction and staking one's own currency on the accuracy thereof.
The appeal of creating entire organizations with contracts on the
platform, Ethereum has a non-trivial possibility of becoming
independent of trade outside its marketplace ( a thing countries
strive for ). This depends on the security of auditing contract code
as well as fulfilling the promise to actually release a proof of stake
protocol. If those two conditions are met, there would then be an
argument for bitcoin becoming considered obsolete. However it is also
possible many will remain unconfortable with the principle of weighing
one's influence on consensus as proportional to how much currency they
are willing to gamble on that influence, and will prefer bitcoin's
most efficient hardware approach as supporting cryptographic research
indirectly.

All in all, if you purchase bitcoin at today's market price in usd,
you are making the bet that bitcoin's base will fully convert there
finances to bitcoin and the number of those people will increase by a
magnitude of 3 before selling or that the consensus among speculators
will change to make bets that it will increase above a magnitude of 3
before you sell.

All in all, this type of speculation rewards gambling and malicious
mass misinformation campaigns and I would not support it by
participating.