Topic: Bitcoin will be the infrastructure of future human civilization (Read 194 times)

I think those are some of the reasons why bitcoin is not easily accepted by any country that currently has a highly centralized financial system. El Salvador does not have its own official currency so USD was the currency used for many years, bitcoin being the reason to change the country to save on remittance fees from abroad where most of the country's economy depends on overseas workers.

I don't know how they can solve the problem with bitcoin, but at least bitcoin has directly saved transaction fees so far that certain companies have previously earned too much.

While it is very possible for bitcoin to become a globally accepted reserve asset and would herald a new level of adoption, it is a development that takes a lot of time. Gold has existed for hundreds of years and has been in use for many of those, first as a symbol of wealth and means of exchange, then as a reserve asset and a hedge for traditional currencies; Bitcoin is barely over a decade, making it a relatively new asset which is still in its development stage.

Also, Bitcoin is far more resistant to centralization than Gold, so countries will be very hesitant to utilize it as a reserve currency as they cannot fully control it.

May be and May be not. It’s true that over the period of time humans have evolved the financial system. First was stones to weapons, to foods, to precious metals and today the paper money which is the most recent and completely evolved system for us. Then the new era has started with crypto space which has given new wings to the human civilisation considering its way of working, the blockchain and its integrity. However, it is just overcoming government and its restriction on the way we transact.

It’s not adoptive. Because for bitcoin to be part of evolved financial system like those examples I mentioned above, all of them must agree upon this. By all I mean the whole human civilisation. I think we all know it’s failing or at least it is not the correct time yet for the same.

If it has to be adopted, it needs to have proper infrastructure, government and bank approvals, everything legal.

I have to admit that when it comes to philosophical side of Bitcoin, there are things that are beyond or maybe I just failed to see them for now but can be unraveling as years go by. As for me, I am looking forward to the time when Bitcoin can be liken or be replacing gold as a reserve asset of any country yet they can still have their own currency in exercise of national sovereignty - this way we can have a win-win situation where Bitcoin is allowed to flourish but not at the expense of another. I am not then a fan of Bitcoin like a singular financial force for the global community since we have to account differences in culture, economic uniqueness, adoptability and just plain preferences.

Thank you for your approval of these thought articles of mine. I left Bitcointalk briefly in the past two months.
All my energy is devoted to my work, preparing a great DAO project. I will be back soon.

Bitcoin has been using for means of exchanges for long time a go, even before this time it has been known worldwide, it was a time i saw a thread made by forum person who exchange bitcoin with pizza, till date people are buying bitcoin with car and other valuable items.

You have knowledge about bitcoin and you love bitcoin too much. You can write too much article about bitcoin. And you can predict bitcoin.
I like your articles I am reading many. I want to write like you but your english is too much good.
When you check only work days of two months you will see that you write one article one day. What of time for resech. You do not work another work apart from bitcoin.

I think bitcoin will be something big but it will not replace fiat money maybe fiat money will be in form of cryptocurrency? Who know?. I agree that El Salvador is a good sign for our community. human civilization always improve so as a normal human we should recognize that bitcoin is part of future and don't be afraid about changes. Bitcoin will be one of important thing in this world so it will be good if we hold some of it.

Like money, Bitcoin can also be used as a medium of exchange, a unit of account, a means of payment, a tool for the formation and transfer of capital and a means of accumulating wealth. Bitcoin has accelerated its amazing function from being a mere technological product to being an 'idol' of wealth. Not a few people in the world believe that Bitcoin will become a digital currency, and bitcoin will become a human civilization in the future.

Technological advances also have an impact on the development of types of exchange tools other than money. In 1946, credit cards were introduced as a means of exchange instead of money or what can be referred to as non-cash transactions. In this digital and internet era, a new type of medium of exchange has emerged, namely bitcoin. Bitcoin is electronic money developed by Satoshi Nakamoto since 2009. Currently, 1 bitcoin is equivalent to almost 8 thousand US dollars. Maybe crypto money will become a new human civilization, because the times are increasingly advanced technology is increasingly sophisticated, and crypto money will become civilization new to humans

Having said so much, it is actually just one sentence. Bitcoin will become an indispensable part of our lives in the future. I firmly believe in this view, because most of my life is inseparable from Bitcoin. Similarly, I have given up work for this belief and immersed in the world of Bitcoin. In fact, the process is quite painful. It can also be regarded as my mental journey. My gain is a relatively healthy mental state. To be honest, looking at your article, my mentality is rather impatient.

In the last two months, I finished over fifty articles about Bitcoin. They may not be absolutely correct for lack of evidence, whiles philosophical questions contain not standard answers, they are for the inspiration of discussion and thinking. Debate makes things explicit. Victory belongs to the people.


This article is about my notion that Bitcoin will be the infrastructure of future human civilization.

---

The digital Bitcoin world unveiled by Satoshi Nakamoto has overwhelmingly surpassed the existing human civilization. Many people even speculate that Bitcoin is an experiment carried out by aliens to advance the escalation of human civilization. Luckily, we happen to be the witnesses and practitioners of the glorious test, the opening of a great era.


Blockchain is reconstructing the earth, reframing the trust and value transfer system and rebuilding the Tower of Babel of human collective collaboration.


In the next fifty to one hundred years, Bitcoin would become the anchor of value system and wealthy structure for humans, leading them to the integration of currency, economy, wealth, politics, religion, culture and civilization, that is, earth civilization.


Only then can the internal friction on the earth be over and humans step into universe civilization and communicate with civilization from other planets.


Nevertheless, since Satoshi Nakamoto came up with Bitcoin in 2009, its consensus has been expanding with surging believers preaching for it, relevant community enlarging and belief strengthening. But the course is full of lies, deceit, fraud and spurious bubbles with batches of participants losing money for lack of knowledge pertinent.


Thus, the road to boom of digital currency are cluttered up with suspicion and misunderstanding for the reason that the vast majority of people do not comprehend blockchain or its underlying investment logic or the contribution Bitcoin and bolckchain made to the promotion of human civilization.


As I see it, blockchain is more than a technological revolution, it’s a revolution in cognition, thought, logic and relations of production. Bitcoin is impressive because, more importantly, its reconstruction of organizations, of the social and distribution system. It will at last change the most basic relations of production, and achieve a leap-forward upgrading of human civilization.


The current atomic physical space of mankind will be formatted step by step by Bitcoin and enter the digital Bitcoin kingdom one day. Mankind will truly stride into a world close to science fiction.


How does Bitcoin build the infrastructure of human civilization in the future? What's the blueprint?


I think Bitcoin standard worldwide is underway. Bitcoin will be the anchor of the world.


Bitcoin standard means holding Bitcoin as the anchor and then to launch currency of each sovereign state or economy.


All these currencies must take solely Bitcoin as reserve and the credit endorsement with a fixed or relatively floating exchange rate, equivalent to another Bretton Woods system of Bitcoin.


After WWII, Bretton Woods system showed up and USD became the anchor of gold, which acts as the credit endorsement of USD. One dollar equals to 35 ounces, then the exchange rate between USD and other fiats would be set. That’s the gold standard then. Unfortunately this system collapsed in the end and humans entered the age of pure credit money, the origin of the unfairness of this world.


In the coming half century, Bitcoin standard will land and there will be a certain fixed or floating exchange rate among fiats of all countries with Bitcoin as the endorsement. That's the only solution to refraining currency from over-issuance, keeping weak countries from bullying, stopping ordinary people from exploitation.


This is the way to the integration of global currency and civilization and this process must start from relatively backward countries to reach a balance of equality, then force strong ones to compromise thus Bitcoin standard can be built finally. That is the necessity of the development of Bitcoin and human civilization.


In 2021, El Salvador Congress passed the proposal of making Bitcoin its legal tender, indicating that humans have embarked on the road to globalization in currency and civilization in the form of cryptocurrency and blockchain.


El Salvador is not a strong country. As the initiator, it will certainly have more and more followers in the days ahead in that nothing can achieve the maintenance of wealth, gain the victory against global inflation and accomplish inclusive finance except embracing Bitcoin as the legal tender.

https://www.theguardian.com/business/2021/sep/24/el-salvador-adoption-of-bitcoin-as-legal-tender-is-pure-folly


As Bitcoin’s status as legal tender reaps growing recognition, especially all those help Bitcoin has offered draws increasing attention, small countries will gradually persuade these big ones and regional fiats such as euro, CNY and yen will be pressured to adopt Bitcoin.


As Bitcoin’s status as legal tender reaps growing recognition, especially all those help Bitcoin has offered draws increasing attention, small countries will gradually persuade these big ones and regional fiats such as euro, CNY and yen will be pressured to adopt Bitcoin.


Bitcoin mining is in nature bookkeeping, to strive for the accounting right in the digital world of humans. That right is in charge of reserve currency liquidation and the liquidation of most of the major digital asset of human beings. Bitcoin will be the anchor of currencies all over the world and all the wealth there will be displayed on the shelf of digital civilization in the shape of cryptocurrencies.


It’s my prediction of the upcoming fifty years in human civilization. Do you think it pragmatic?