I guess at the end of the day, Bitcoin focuses on solving a narrow range of problems, government currency inflation and money transfer control. It does not fix issues with large corporations monopolising markets, trademarking and copywriting everything to infinity..
I dont think Bitcoin should take on a Robin Hood style role, I dont think it should be taking the wealth from the rich and distributing it to the poor, it simply levels the playing field and puts everyone on the same rules for building wealth.
Next P2P project.. KarmaCoin.. A system to promote ethical, non greedy corporations and to prevent them from taking over and ascending to monopolistic positions.
I dont think Bitcoin should take on a Robin Hood style role, I dont think it should be taking the wealth from the rich and distributing it to the poor, it simply levels the playing field and puts everyone on the same rules for building wealth.
Next P2P project.. KarmaCoin.. A system to promote ethical, non greedy corporations and to prevent them from taking over and ascending to monopolistic positions.
I didn't say that I thought Bitcoin should be the vehicle for wealth re-distribution. But in fairness I didn't say otherwise either. For the record, I do not feel it practical for Bitcoin to have a redistributory role. I had some hope that it would be a 'digital gold' and there is an important place for such a 'reserve currency' solution, but I don't think it will.
In Bitcoin's defense, it will always have the potential to dispense with counter-party risk, and will always be resistant to certain forms of abuse (like naked sorting) and that is huge. My disillusion stems from my believe that it could be also a lot more and probably will not be.
A word of caution for those who have drunk the kool-aid and think it's going to become the dominant currency solution for the masses: If it is tied up by a tiny minority of ultra-wealthy and if there is not distributive method (both of which seem inevitable), it very well may be the case that something else will come along which 'sells better' to the actual users. That is my projection for the future of 'exchange currencies'. If I am very lucky it may well capture a lasting segment of the 'reserve currency' market share.
I don't remember doing that. Searching for lunatic and my username comes up blank... you sure you have the right person? My only question around your thought processes is around USD deflation/biflation -- and by that I mean buying power against a basket of typical consumer goods that are not themselves deflating (so not consumer electronics). And I think that that boils down to you thinking that the fed has it all under control and aren't going to piss in their own well, whereas I wonder if they are stretching a rubber band too far. Its gonna snap back and flood the system with liquidity.
