Topic: If Bitcoin skyrocketed, what would the future economy that is born look like? (Read 2205 times)

In my opinion,
there would be no paper money,
they will use a simple card to make a payment....

Your question is: "if bitcoin skyrockets". And what if bitcoin won't skyrocket ever again? Don't kid yourself, price is the most important characteristic of bitcoin. Price is reason why people will flock towards bitcoin. For now we know that bitcoin price from late 2013 was artificially manipulated by series of events. For now bitcoin is in stagnation and any positive news are not having any effect on price.

tl;dr With innate volatility of bitcoin building stable future economy is a problem.

It's the end of middle men...

All economy, law, society, business is a series of ledgers that are maintained by gatekeepers; Maintainers of public and private records.

Government is a series of books, accounting for the management of Public Funds and their Mandates as dictated by appointed officials... officials offered as a choice by the ruling parties on who will choose for us.

Business is a series of appointments, receipts, transcriptions of the management of production and services, again on a ledger.

Who gets to write what is within these ledgers? What are the criteria? What is it's purpose?

Imagine a world where those who manage are no longer needed, because the trust issue has been resolved. It is an unfortunate truth that Human nature is Taciturn and ma-liable; An unfortunate result of the need for survival, maintaining ego and a myriad of factors apparent in the natural world. But the ledger does not care, it is absolute and unflinching in it's mandate.

This is the Nature of Bitcoin. A Public record of accounting not only of money, but of all records maintained by Humanity.

Imagine a world without Politicians, CEO's, Managers, Clerks, Lawyers... because the ledger is secure and absolute. Because those who control it are not individuals but rules set by the people, maintaining the record of accounts of those who abide and those who do not, all of this public and available to all as soon as it is transcribed... we become the Gatekeepers.

Those who remain are merely Citizens, Providers, Tradespeople, Businesspeople, Protectors, Artists... exchanging their property as they see fit across the planet... a One World Order By the People for the People.

One day I will purchase my Groceries ahead of time, it will be delivered to me; The things I purchase will be mine and those who need to know will know; Art, Intellectual Property, Land will be traded across the planet without dispute, Because the creator and owner is irrefutably recorded in the Ledger of Accounts for All to see called Bitcoin.

I will shake the Hands of my Brothers and Sisters and we will know that we are equals.

HAHAHAHAHAHAHAHAHA yeah right.

Bitcoiners need to stop being so delusional. Bitcoin isn't going to solve all of the world's problems. It's not going to solve most of the world's problems. It's going to make a few things better, and that's it. The idea that bitcoin can stop wars is utterly insane, and spewing this kind of garbage is what keeps normal people away from the bitcoin cult.

When Bitcoin awake in normally people (real people) ... you will have this result : https://www.youtube.com/watch?v=joITmEr4SjY

No War.
No Tax.
No QE.
No Bank.

I was going to summarize for you, but then I realized there's nothing to summarize. It's pretty much the same whether you read it or not; pointless drivel.

I guess the "conclusion" is him asking can bitcoin be a mainstream currency if it's super volatile.

Is there a shorter version of the OP.
It gave me a headache just by looking at it, so I didn't bother reading it.

Or can someone tell me the conclusion?

There's no need money again, maybe like digital money and bitcoin will be the pioner. Wi-fi around all country and we buy something maybe with a card or internet something  to pay with digital money or bitcoin.
And The criminal will be smart because will hack via internet not in real life again.

the future will depend mostly on the percentage of total regulations around the world, in those area where the regulation will be scarse, more illegal stuff will emerge

in those other country where bitcoin will be regulated well you should see a new good, currency working along with fiat

The internet economy would consist entirely of gambling sites, underground drug markets, live web shows, and porn.

Money laundering would also be legalized in 15 states.

Unethical regulation, regulation, regulation. Governments trying to milk Bitcoin businesses and processing charges going-up.

"Hope is being able to see that there is light despite all of the darkness." ~ Desmond Tutu

I kinda like how Bitcoin is now, here where I live there are no real rules or ways to see how much profit I make with Bitcoin, which is a plus for me.

I hope it stays like this, but that's wishful thinking I guess.

Ugh, difficult topic.

First, we need to introduce some form of consumer protection or there will be no future economy. Scammers and ponzi pumpers need to be deprived from being involved in BTC economy. Then we need Wall Street. Finally, ordinary folks should flock in.

I would not expect the economy to change much, BTC is just more evolved form of electronic payment.

I still don't know how that happens. How does one not manage $100M? Are humans really that stupid?
Anyhow back to the thread, I'm thinking that with the influx of rich people in the Bitcoin ecosystem that online industry would benefit.

I'd definitely buy all (most, if all is not possible at the time) online using Bitcoin. It would make my life easier. I'd also focus on buying from merchants that don't use processors such as Bitpay.

There wouldn't be much of a difference really... just that there would be some new rich people. Some of whom will probably make poor financial decisions and lose it all in a few years, like many lottery winners do.

This is what I kind of was thinking haha...

May be the price is already in the moon now
The price from 0 to 200+ spend only six year, if this is not on the moon, what is moon?

Your not answering it.

What type of new innovations and companies will be created, what kind of economy, how will wealth be calculated.

Its out with the old in with the new.

What would the future look like? Its like an empty matrix that can be filled literally anything you can imagine, things beyond business

and legal stuff. What new forms of entertainment, media, perhaps an entirely new new thing of its own kind of thing

If you take a look at the Winklevoss analysis and I think they are on point, BTC is aiming higher than gold. BTC could theoretically dethrone all existing physical payments, which would result in a market cap on the trillions (and then more, since metal and asset money would flow into it as well).

I always like to take perspective and remember back in 2009, how people said it would never reach 1 USD. 1USD! Seriously get some perspective and never be afraid to consider sky high rocket prices when there are reasons to do so.

Even the last skyrocket took about a full month to reach its maximum. I wouldn't worry about trading, that's why we have a satoshi.
We would have to adjust the transaction fee and we would be good to go.