Topic: Why Governments will love Bitcoin. (Read 1862 times)

thats why i said "roughly speaking"

*snort* What? Governments don't want fiscal responsibility  Politicians know they will get voted out if they cut programs to their states, and know they will get more votes if they get even more earmarks and money. They don't care where the money comes from, or if it's from debt. Likewise for people who vote them in. They just want more money for their roads, schools, and government programs, and don't want any cuts to their entitlements, not caring where the money comes from, either. This whole "Rabble rabble huge deficit and debt rabble rabble" is just bullshit that they use to attack each other, but that no one is actually willing to do anything about. Heck, soon as we get a surplus and can actually pay down our debt, we are told, "but that surplus is 'The People's Money'" and we get tax cuts instead of debt paydowns. There really is no end to all of this other than in tears.

It was the land of freedom and opportunity back then.

It wasn't a superpower by then.

America did fine without a central bank before 1913.

Govnt's need central banks that's what gives them authority.

here you go http://www.heritage.org/index/ranking This list, roughly speaking, lists the governments of every country in order from most intelligent to least intelligent.

There is nothing to prevent fiat banking with bitcoin.

The OP assumes that governments can decide for themselves. Recent experience in Greece tells me that this is not so.

Politicians' number one criterion to decide their actions is the next popular vote. Fiscal responsibility (balancing revenues and spending) NEVER gets someone elected.

Governments are elected by people who vote for the best promises (mostly financial in nature). Voters of course, never fire up an Excel sheet to check whether these promises are actually able to be fulfilled.  Then, when governments are elected they find out that they are not really running the show.

So what if there is actually an honest and decent governement somewhere on the Earth, and decides to ditch their CB? They will certainly discover within hours who's actually in charge. A few coordinated MSM attacks, and the CBs (their local one and the others in the rest of the world) will ditch the government in no time.

As long as the overwhelming majority believes that paper money and fractional reserve bank accounts are their "wealth" there is no way to change this. I might know that this premise is wrong, but it took me quite some time to accept it, as this is a very inconvenient truth.

It would be however interesting to think how this overwhelming majority would react if some day they realize what this particular brand of governments and associated CBs have actually done to their lives.

So to the OP, I think PEOPLE will love Bitcoin (or any similar alternative) the day that they will look at those banknotes in their pockets and say "WTF is that?". Governments would soon follow.

this is assuming politicians give a crap about the "state of the union". The truth is that all they care about is lining their own pockets. Central banks provide an opportunity for them to personally become extremely enriched by the political process. With out the same money printing that destroys the prosperity of the nation they would personally take a huge pay cut. this is because they would no longer have as many favors to hand out to corporate cronies and so would receive less favors in return from the cronie sector of the economy. No more cushy jobs being payed a million dollars a year to sit at the top of some tower eating lobster and twiddling their until they die of old age.

I think the biggest reason why the banks tend to win against all possible odds is because the average Joe doesn't know much better.  They didn't have access to a huge database of information then, and if you didn't go out of your way to really learn something, you probably didn't know much about it.  Factor that into being born into a system, thereby becoming used to it by the time you've matured (I reckon this is the same way religion survives for thousands of years)

But things are different, now, thanks to the Internet.  Not only do we have so much information right in our homes, but anyone can communicate with everyone on a scale which never existed before now.  People are gonna wise up to the game the central banks play through the Internet--lets just hope they don't succeed in censoring it, else all hope is lost.  Well, maybe not all, but a lot of it.

So I agree, if Bitcoin is the antivirus, the Internet is the syringe.

To continue the analogy, central banks are the whores of the financial universe. Not only do they solicit naive and fearful young nations, they systematically scam them out of their future wealth. Bitcoin is a beautiful and worthy companion for any nation, but like any lady is hard to get.

All governments should adopt Bitcoin, but they will have to enter it like a war. It will take the will of the people to fight for their futures. Too many nations have become lazy. They enter wars with no sacrifice. The leader declares a vendetta and borrows the money from future generations. This is irresponsible behavior and these countries do not deserve what Bitcoin can provide. The nations of the future that adopt Bitcoin will be immune from tyranny because their assets will be beyond the reach of mere politicians.

Only leaders able to gain the support of their constituents will be able to aggregate capital for the will of the people. These future nations will be successful and worthy of their status and power. However long it takes, one day Bitcoin or its offspring will foster maturity and stewardship to nations and the world.

I think the larger hurdle would be the explanation of how to appropriately adopt them. That needs to be easy or I don't think convincing them to embrace it would be easy. If Bitcoin is the cure for the disease, mass adoption is part of the answer. If you're merely suggesting the government register a Mt Gox account and start mining along with a large group of nerds, I don't see how that frees them from the Federal Reserve. Grandma at that point still cannot accept her Social Security check in Bitcoins.

Don't get me wrong though. I think Bitcoin not only can fix money, I think as a global economy, we have to have something like Bitcoin to free the world from corrupt governments manipulation in a global environment. Just was prying you for some more of your thought because your opening statement was eloquent.

The OP was not about how governments would adopt Bitcoin. It was about why they would replace central banks with Bitcoin. The how is easy. They can mine and trade Bitcoin just like the rest of us. There's not much to discuss about that. The real issue that needs discussion is convincing governments why they should embrace Bitcoin for future peace and prosperity.

"Governments will love Bitcoin and stuff."

"But how?"

"This has been discussed many times."


WTF?! Then why start a thread if you don't want to actually discuss the OP topic?

This has been discussed many times. Personally, I would trade some of my Bitcoin wealth for land in Malibu, though it would probably only buy a parking space for an RV.

Interesting.

However, USA wasn't in the position it is now, before the central bank. Seems to me that it needs military and financial intimidation to stay in power. It practically caused millions of lives and trillions of USD's to keep USD in its throne. You would have to find a new way for USA to exist as it is.

Interesting theory. I have a follow up question though. Say the US of A decided to ditch banks move to Bitcoin. How do you do that the "right" way? Or at least, what is your right way to make such a transition?

America never invited the central banks. They romanced their way in to governments by wooing them with pretty songs about fiscal responsibility and their expertise. Sure, they gave America herpes, but the country grew and every other country had the same financial virus.

Now they are old, bitter, and greedy elitist institutions. The herpes has become shingles and is painful to everyone. Governments don't know how to get rid of the virus of central banks. The central bank disease always kills its host, until now.

Bitcoin is the cure to Central Bank Disease. Governments can finally have the fiscal responsibility of this beautiful new bride that is disease-free.