Oddbean

Absolutely not. Things are going to get better before they get worse. They’re going to get better very rapidly, and this will surprise many. People will say “yes” to Bitcoin. Many people. And not just westerners.

Bitcoin is not “a technology”. Software is not technology. It is ideology. Technology refers to the application of scientific knowledge for practical purposes, especially in tools, machines, and systems that interact with the physical world. In this sense, technology is often thought of as something tangible, like hardware, machinery, or infrastructure. Software, on the other hand, is a set of instructions that tell the hardware what to do. It is intangible and doesn’t directly manipulate the physical world; it only operates through hardware. Software exists in the realm of logic, algorithms, and code, which makes it separate from technology. Technology refers more broadly to the physical tools and systems that enable human tasks, with software being an abstract layer that interacts with those tools. Software is a facilitator of technology, rather than technology itself. The term “technology” refers to industrial and mechanical inventions. Software is a distinct category, as it doesn’t fit the definition of machinery or equipment.