Reaction when BTC has worlds largest market cap.

jubalix

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Quote from: empoweoqwj on January 04, 2014, 09:38:29 PM

I'm not sure "how is the world going to feel about it" is a question that can be answered. I know bitcoin owners will be pleased though

If I can put it this way.

I'm not saying capitalism or any ism it bad (or good). However the current system makes a kind of idol/worship out of the large companies and thier CEO's, people aspire to be these people they are held out to be the wunderkind, the rich the successful.

Having read the biography's of some of them, it seems indeed they were exceptional people, but there was a lot of luck involved as well.

In short the large companies are one of the signifier of the benefit and affirmation of the governments that habour them and construct the conditions to see them come to fruition. They are the evidence of the need for the structures of govt to regulate and the rational of the quid pro quo of government intervention/legislation.

BTC comes along without any of this and very publicly, by orders of magnitude shows another way, that when given the instruments, the masses can actually not only choose for themselves but do a far better job at it, than any monolithic government or corporation could ever achieve.

This may cause some serious questions to dawn on minds that have only had one way traffic of you need the centralized government for the benefits they confers. Some of the purported benefits will not seem to be quite so sure.

empoweoqwj

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I'm not sure "how is the world going to feel about it" is a question that can be answered. I know bitcoin owners will be pleased though

marcus_of_augustus

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Eadem mutata resurgo

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It's the opposite. It's a wholly shareholder-owned and developed company, and its corporate and legal structure are open source and incorruptible, and it's the best rebuttal for anyone who criticizes an-cap, or especially voluntaryism. We took the concept of a company and improved it by an order of magnitude, and that was just a side effect!

Look up the thing that has been dubbed "DAC" -- distributed autonomous corporation. Bitcoin is the widest-distributed and massively universal, but it's the tip of the iceberg for use cases of the blockchain and derivative protocols.

And Bitcoin, the currency, are its privately and widely traded shares with an algorithmically predictable rate of issuance.

It is a useful way of looking at it ...

FenixRD

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Quote from: jubalix on January 04, 2014, 05:52:42 PM

Quote from: viridisk on January 04, 2014, 04:57:48 PM

Since when bitcoin stopped being currency and became company?

my error for not being explicit, pls refer to edit.

btc may have element of a DAC, but is a currency first and foremost.

Haha, yes! Exactly. Bitcoin, if it had not been the most logical first implementation of a blockchain system, and therefore predated (and inspired) the term, would have made a fine DAC. I posit that there is not much of a difference.

FenixRD

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Quote from: evoked22 on January 04, 2014, 05:48:48 PM

Thats a really interesting way of looking at it

I dont like applying the normal executive/corporate model to bitcoin as it exists outside of any existing model/foundation and to compare it with those worthless companies in my opinion is a down grade to bitcoin.

I have no doubt that it will reach that market cap though I hope by then it has not been taken over Cheesy

It's the opposite. It's a wholly shareholder-owned and developed company, and its corporate and legal structure are open source and incorruptible, and it's the best rebuttal for anyone who criticizes an-cap, or especially voluntaryism. We took the concept of a company and improved it by an order of magnitude, and that was just a side effect!

Look up the thing that has been dubbed "DAC" -- distributed autonomous corporation. Bitcoin is the widest-distributed and massively universal, but it's the tip of the iceberg for use cases of the blockchain and derivative protocols.

Eventually, even human history itself will be recorded in this manner, while we ourselves are planets and galaxies apart, with no possibility for "biased" history books as we have now. (WWII, for example, looks *very, very* different depending on your source.) Inb4 relativity issues, I have a BS in physics, I'm making the assumption with confidence that we will overcome our limited dimensional abilities in the future.

jubalix

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Quote from: viridisk on January 04, 2014, 04:57:48 PM

Since when bitcoin stopped being currency and became company?

my error for not being explicit, pls refer to edit.

btc may have element of a DAC, but is a currency first and foremost.

evoked22

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Thats a really interesting way of looking at it

I dont like applying the normal executive/corporate model to bitcoin as it exists outside of any existing model/foundation and to compare it with those worthless companies in my opinion is a down grade to bitcoin.

I have no doubt that it will reach that market cap though I hope by then it has not been taken over Cheesy

beetcoin

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Quote from: viridisk on January 04, 2014, 04:57:48 PM

Since when bitcoin stopped being currency and became company?

when it turned into a cryptocorporaion.. and renamed itself bitcompany? i thought that was what BTC stood for Shocked

nastybit

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If you look at bitcoin this way I think you can compare it with linux and all the different "forks"
not sure about the market cap there but I am pretty sure on server side it must be quite large.
But I don't really understand what you are saying..

FenixRD

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Quote from: viridisk on January 04, 2014, 04:57:48 PM

Since when bitcoin stopped being currency and became company?

It didn't, but it is a worthy comparison. Up until now, no one but large corporations have been able to pull off such a massive project. Bitcoin is the biggest case study for a grassroots, crowdfunded (time and money) service that would barely be possible, maybe, if it had been backed by a large company. And, maybe not; see Ripple thus far.

When I consider the possibility of a crowdfunded, public cooperative initiative to make Hyperloop a reality, I think, hey, we built Bitcoin. Actually, I really hope those two become related. I don't have the assets to influence it yet, but perhaps one day my BTC will be enough. If the public retakes the financial and transportation sectors, ya know... this may be the beginning of the most peaceful "overthrowing" of a government in the history of the world.

viridisk

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Since when bitcoin stopped being currency and became company?

jubalix

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Within 2-4 years it seems quite plausible BTC will have worlds largest market compared to the cap of any public company by a good margin, get nearing the 1T mark.

[Edit] I am not saying BTC is a company far from it, it is a currency! just for comparison as this is something the public will understand. Eg they know apple is big (now) and when they hear BTC is bigger.....they will understand sit up and take a bit more interest

how is the world going to feel about this.

also how many people do you think are employed by BTC

[1] DEV ing for a BTC or related research dept (alts) and associated software
[2] In the marketing dept
[3] Funds management
[4] Consulting
[5] exchanges
[6] Legal/regulation

when I think about it, I begin to wonder if Microsoft or apple could afford all the hours worked on BTC

Topic: Reaction when BTC has worlds largest market cap. (Read 1794 times)