Bitcoin's Dystopian Future - page 2.

jdamayo28

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Quote from: Saraki Goo on June 28, 2018, 10:44:18 AM

You absolutely need a centralized currency to move huge amounts of wealth from citizens and future citizens to the state in order to build an empire, otherwise no tax-payer would ever spring for such a goal.

All of crypto currency is unstable and unpredictable. Now, talking with BTC, I believe BTC got the brightest future ahead among all other cryptocurrencies, simply because of its performance showed the last few years that excite and entertain a lot of traders and investors.Some are afraid of holding BTC, because its been struggling this past few months and they think BTC will have an undesirable future. But for the bitcoin holders and traders, we believe to that BTC will have a great future ahead.

Saraki Goo

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You absolutely need a centralized currency to move huge amounts of wealth from citizens and future citizens to the state in order to build an empire, otherwise no tax-payer would ever spring for such a goal.

leoasdnedc

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Like many technologies, Bitcoin can and will be used for good and bad. When fire was "discovered" it was used to cook and to burn down villages. That is lunacy to the extreme thus the rest of the dystopia is not based on any or even a small part of practical real reality.

anhtuan845

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There are two types of investors. One type is the optimistic one and the other type is the pessimistic one. I personally consider myself within the first Category and I am sure bitcoin will have serious higher value in future. The price we are seeing now is just the tip of the iceberg and I will be happy to buy more at the current price. Tongue

But not many people understands that every dip provides us an opportunity. Grin

Those who understand, will stay on the top within few years from now, rest will continue crying foul.

phelanceter

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Bitcoin is not really economically different from gold. Face it, when was the last time ordinary people used gold or silver coins in their hands for daily transactions? Well, Bitcoin is going to eventually occupy the same place that gold and silver do in our current economy; a place for investment capital to flee to, as a last-resort inflation hedge when the productive economy is administered by miss Helena Handbasket. It will not likely be used by ordinary people.

Kytanylu

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Using the after effects of a massive credit bubble to argue that deflation is harmful is as rational as using the existence of hangovers to argue that one should never stop drinking. Wink

Tuyoqhh

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I think We will never solve the problems of money with money, even if it is a better money. Investigate a resource based economy.

yaghoniyu

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bishopcrypto

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Weird, many of the things in the OP can be blamed on many things not named bitcoin. Grandma's retirement, for example, was already in the toilet pre-crypto. She's been losing her ass for many years because of government policy and endless money printing. Just like all of us. You don't have to be a hardcore libertarian to see the deck has been stacked against us for generations. Will bitcoin exacerbate the problems? Perhaps. Or maybe bitcoin provides a better option. Especially if grandma's retirement fund is crypto friendly, and not just treasuries.

Rakabel619

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hello, in my opinion, the whole crypto market will be in regression all prices will be shrinking, we will all remember the values of January 2018, it will remain a difficult peak.

bitvelk

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This is just one of the scenarios, unfortunately, or fortunately, no one will say exactly how the fate of the cryptocurrency will be. I prefer to be optimistic.

HelenS

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I believe in the UTOPIAN future. There is nothing perfect in this world, but BTC is Grin

lili song

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The deflationary arguments are not warranted imo. I would actually spend more. knowing that I can buy more tomorrow without need to have as much in nominal terms.
We are so brainwashed into believing that a deflationary system cant work because we have been drilled with/by the current interests. The current system is on the brink of collapse. Our govts ARE at the level of Zimbabwe inflation but it's not in the units that you can hold in your hand.... Bailouts, QE and the fact that govts are pretty much doing this in parity makes it a little less visible....
Deflation has been used as a scapegoat at every opportunity of the current failures. The inflationary system is only in place because it is necessitated by an independent central banking system as a business model. The inflationary systems have only been in place since the plans to create private central banks were thought up.

jrd2828

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Quote from: megamanexe002 on June 10, 2018, 03:44:29 AM

Quote from: warpio on April 19, 2013, 02:08:39 PM

Most of OP's predictions will happen regardless, with or without Bitcoin. This just speeds up the process a little bit.

dystopia (greek word) bad place. A society which is undesirable or frightening. With this situation of the place,do you think bitcoin has a future?

I've been following bitcoin a couple of years ago, I have witnessed its performance in the market. Im very satisfied and entertain by its movement last year but now it seems BTC stuggle to recover since it fell down in the market. This past few weeks BTC face a significant low value and still falling. In future, bitcoin seems be dystopian or frightening but I still hoping it could climb up again and make noise in the market.

megamanexe002

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Quote from: warpio on April 19, 2013, 02:08:39 PM

Most of OP's predictions will happen regardless, with or without Bitcoin. This just speeds up the process a little bit.

dystopia (greek word) bad place. A society which is undesirable or frightening. With this situation of the place,do you think bitcoin has a future?

paruru123

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Okay then

Dne work

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Quote from: Catmoonglow on July 13, 2014, 06:30:54 AM

Nice write up, but i think the whole "if you can't beat em, join em" mentality will overtake the general population at the tipping point, and political associations to money will dissolve.
[/quote

I kind of agree with this mentality, but there is more involved than disagreeing with quality & price. As advances in technology and technology advances, old ways of doing things are useless and getting left behind. In our case, decentralized money keeps the government's money out of date. Now we can save money, without losing profits from a stable and non-liquid currency.
Like many respondents here and I have greater confidence in human nature to give a good and correct response to what might happen. But if the European experiment we just saw revealed telling us anything, you can not have a single monetary system without a single government. I see the transition as a monumental challenge, and will require visionary leaders to take a counter-intuitive leap of faith in the future.

dacoinminster

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Rational Exuberance

Quote from: Geor on May 21, 2018, 09:58:02 AM

Using the after effects of a massive credit bubble to argue that deflation is harmful is as rational as using the existence of hangovers to argue that one should never stop drinking.

Actually, I LOVE deflation. It's hyperinflation of fiat (accelerated by a flight to crypto) that worries me.

This is a very old post, from back in 2013. I've done a lot since then (https://www.linkedin.com/in/jrwillett/) and a lot of things have changed, but I still stand by it completely.

Geor

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mdripon

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Quote from: Sword Smith on April 19, 2013, 03:18:26 PM

A government is a company like any other company. Its business model might be challenged by crypto currencies just like Western Union's business model will be challenged but it will have to adapt.

If a government is a company, what is its core service? Security!

In an anarcho capitalistic world (no govenments), there would still exist a demand for security as you point out. This demand will be filled by some entity and the best way to provide security is to control a geographical area, like in a gate community - and what, if any, are the fundamental differences between a gated community and a government? None! We are already living in a world of "privately" owned security companies competing with each other. We just happen to call these kind of companies "governments". We are living in an anarcho capitalistic world already. We who call ourselves libertarians are just not too happy with the quality and price that these companies provide.

Governments will not die since there is a huge demand for their service - security. Governments will adapt and figure out new ways to get a revenue either through property taxes or through head taxes but many people will be hurt in this process as you correctly point out.

Bitcoin is a coin. bitcoin's future is certainly good. bitcoin will unveil new roles for future generations. I never agree with your negative perspective of the future on bitcoin. but the government's role needs to be in this regard. because the government determines the tax.

Topic: Bitcoin's Dystopian Future - page 2. (Read 28242 times)