Can Bitcoin spark a new economy that prevents the old one from crashing so hard?

zimmah

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Quote from: Bit_Happy on March 25, 2015, 10:20:27 AM

Many parts of the world will get really ugly and dangerous if/when paper money collapses into a huge pile of worthless debt.
Can Bitcoin spark a new economy that prevents the old one from crashing too hard?
Will there be enough new jobs for the majority of people to eat and have a place to live? (Feel free to post an educated guess)

Do we really need an economy where everyone needs a full time job?

Is it so bad to have robots do most of our work and have 12 hour workweeks?

Everyone can work for a few hours a week, (except seniors, children, severely sick people etc.)

Of course you can work more if you like but do we really need to? Do we really need billions of people working 40 hours a week? With the technology we have now?

I'd say, let us try to build a society where work is shared reasonably equally, and have as many things automatd as possible, and make the income suffient for everyone so that whatever amount of hours of work on average is suffient to support a decent lifestyle. Even if that means that a 12 hour workweek could support a family.

This will probably never happen, but it would be cool if it would.

Amph

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no i think, bitcoin is still to attached to fiat, to do something like this, bitcoin need to operate in its own, without any connection to old generation of money, we are still to far away from this

a fiat crash right now might destroy bitcoin also

aso118

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Quote from: Q7 on March 26, 2015, 09:30:52 AM

I foresee when the collapse really took place, the whole world will accend to a total chaos. People would be buying bitcoin pushing the price upwards to an insane level. And from there the new economy where everything is priced solely in bitcoin becomes the new standard. I imagine it will be possible someday

If there is total chaos, people would be stocking up on food and gold, not bitcoins.

countryfree

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Quote from: Bit_Happy on March 25, 2015, 10:20:27 AM

Many parts of the world will get really ugly and dangerous if/when paper money collapses into a huge pile of worthless debt.
Can Bitcoin spark a new economy that prevents the old one from crashing too hard?

I don't know what the future will bring, but BTC is way to small to save the world or create a new economy.

AtheistAKASaneBrain

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Quote from: Q7 on March 26, 2015, 09:30:52 AM

I foresee when the collapse really took place, the whole world will accend to a total chaos. People would be buying bitcoin pushing the price upwards to an insane level. And from there the new economy where everything is priced solely in bitcoin becomes the new standard. I imagine it will be possible someday

This is somewhat of a stretch. I think its possible but I see a more realistic scenareo the one that the Xapo guy gave on his conference: Bitcoin becoming a new standard instead of gold, not necessarily replacing any of the existing fiat currencies.

Q7

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I foresee when the collapse really took place, the whole world will accend to a total chaos. People would be buying bitcoin pushing the price upwards to an insane level. And from there the new economy where everything is priced solely in bitcoin becomes the new standard. I imagine it will be possible someday

johnyj

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It can and it is on the right track

The world need one after another bubble to drive the economy forward. After IT bubble and Housing bubble, banks have run out of bubbles, they made a new bond bubble, which is not really working, since the majority of people are not participating in the bubble making

The bubble mechanism is to find something that everyone are interested, and provide loan for people to purchase them, drive up its price, and then the branch will have strong demand and create large amount of jobs, resulting in boom

After housing, the only thing people are interested is saving more money for early retirement. Bitcoin as a very promising long term saving medium, world currency, fits perfectly into the picture. With a bit of financing from banks, it will become the new bubble

The demand for house is limited, but the demand for money is unlimited, that will make the bitcoin bubble everlasting, solve the sustainability problem

aso118

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Quote from: Bit_Happy on March 25, 2015, 10:20:27 AM

Many parts of the world will get really ugly and dangerous if/when paper money collapses into a huge pile of worthless debt.
Can Bitcoin spark a new economy that prevents the old one from crashing too hard?
Will there be enough new jobs for the majority of people to eat and have a place to live? (Feel free to post an educated guess)

I am guessing with so many QEs going around, the financial economy is due for a crash/correction, bitcoin notwithstanding.
Bitcoin may just hasten things a bit.

The early adopters might benefit, but I doubt it will create jobs for a majority of people.

odolvlobo

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Bitcoin can't save us if the financial infrastructure around Bitcoin is not extensive enough to replace the infrastructure surrounding the failing currencies. It might cushion the blow.

BillyBobZorton

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Quote from: Bit_Happy on March 25, 2015, 10:20:27 AM

Many parts of the world will get really ugly and dangerous if/when paper money collapses into a huge pile of worthless debt.
Can Bitcoin spark a new economy that prevents the old one from crashing too hard?
Will there be enough new jobs for the majority of people to eat and have a place to live? (Feel free to post an educated guess)

Technically yes, it would be able to spawn a new economy if wealthy people can pay in directly in BTC creating new services and whatnot. The problem is most people aren't educated and dont even know what Bitcoin is.

Bit_Happy

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A Great Time to Start Something!

Many parts of the world will get really ugly and dangerous if/when paper money collapses into a huge pile of worthless debt.
Can Bitcoin spark a new economy that prevents the old one from crashing too hard?
Will there be enough new jobs for the majority of people to eat and have a place to live? (Feel free to post an educated guess)

Topic: Can Bitcoin spark a new economy that prevents the old one from crashing so hard? (Read 1072 times)