Topic: Disruptive technology - page 2. (Read 2097 times)
We're in knee of the curve in computing power doubling, hence Bitcoin, Siri, Watson winning at Jeopardy, etc. Expect lots more disruption in the years ahead.
Maybe Myspace will come back after they were disrupted by facebook if they adopt Bitcoin. Maybe a new social network will do the same. I think the disruptive part of bitcoin is not that it's liquid, but it's superliquid.
Bitcoin is like superconductor for money transfer. Sure, right now we don't have "room temperature" operations because we need a lot more infrastructure development, but it will come. That superconductive superliquidity will scale because technology will evolve around this new fundamental change in finance. The old dinosaurs of banks and countries will slowly go extinct.
Bitcoin is like superconductor for money transfer. Sure, right now we don't have "room temperature" operations because we need a lot more infrastructure development, but it will come. That superconductive superliquidity will scale because technology will evolve around this new fundamental change in finance. The old dinosaurs of banks and countries will slowly go extinct.
I keep hearing about new disruptive technologies lately. These are technologies that suddenly and unexpectedly solve a problem that was hitherto solved in different, poorer ways.
But some businesses are dwelling on those poorer ways and make a living out of them. They are the ones that get disrupted when the new technology comes along.
So how about bitcoin? I think it will turn out to be a fairly heavily disrupting technology, once it becomes more established than it is today.
The list of businesses that may get disrupted could be long. The most obvious ones are the money changers and money forwarders. Next in line could be the banks. Then follow governments, particularly their taxation systems. And there are probably more to come.
Of course none of these gets disrupted and destroyed. Some will adapt and embrace bitcoin as an alternative piece of business. Let's wait for the first bank to accept and carry out bitcoin payments. Of course the banks must hate bitcoin, because it takes a significant portion of their business away. But if you cannot win a fight, you might as well make friends with the enemy and take whatever you can get.
Governments are a difficult matter, but as far as I can see, the impending changes are all for the better of us, the citizens. Governments like to destroy currencies to wash away their debts through inflation. Tell me when a government has honestly and completely repaid its debt. That is a rare occasion. Watch the euro going down if you need a real-life example. If you still have euros, change them into bitcoins before your euros melt like butter in the sun.
Now with bitcoins they will face a much harder task. When they default, everybody can see it. There is no trick by which they can walk away from their debts any more. I can hardly wait.
But some businesses are dwelling on those poorer ways and make a living out of them. They are the ones that get disrupted when the new technology comes along.
So how about bitcoin? I think it will turn out to be a fairly heavily disrupting technology, once it becomes more established than it is today.
The list of businesses that may get disrupted could be long. The most obvious ones are the money changers and money forwarders. Next in line could be the banks. Then follow governments, particularly their taxation systems. And there are probably more to come.
Of course none of these gets disrupted and destroyed. Some will adapt and embrace bitcoin as an alternative piece of business. Let's wait for the first bank to accept and carry out bitcoin payments. Of course the banks must hate bitcoin, because it takes a significant portion of their business away. But if you cannot win a fight, you might as well make friends with the enemy and take whatever you can get.
Governments are a difficult matter, but as far as I can see, the impending changes are all for the better of us, the citizens. Governments like to destroy currencies to wash away their debts through inflation. Tell me when a government has honestly and completely repaid its debt. That is a rare occasion. Watch the euro going down if you need a real-life example. If you still have euros, change them into bitcoins before your euros melt like butter in the sun.
Now with bitcoins they will face a much harder task. When they default, everybody can see it. There is no trick by which they can walk away from their debts any more. I can hardly wait.
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