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Title: How Bitcoin changed the lives & What can we do about it ? Post by: aMother on February 02, 2014, 06:47:58 PM First, let's see how it is changing lives ?
a) It's helping Silk Road(marketplace) to grow http://en.wikipedia.org/wiki/Silk_Road_%28marketplace%29 (http://en.wikipedia.org/wiki/Silk_Road_%28marketplace%29). So What : In short bitcoin is improving the accessibility of drugs, guns etc. Drugs and guns both destroys life (at least in the long run). b) It's resulting in lots of consumption of electricity www.forbes.com/sites/timworstall/2013/12/03/fascinating-number-bitcoin-mining-uses-15-millions-worth-of-electricity-every-day/ (http://www.forbes.com/sites/timworstall/2013/12/03/fascinating-number-bitcoin-mining-uses-15-millions-worth-of-electricity-every-day/) So What : Our earth is already suffering due to overexploitation of resources and pollution. Generation of electricity leads to both (at least in India). Bitcoin is consuming lots of it. c) Govt. isn't saying it's legal. My parents forbid me to mine because they think its illegal because govt. of my country is forbidding to do so in indirect way. So What : Till the govt. is not going say its legal (though it hadn't say illegal till now) sellers are not going to use it for transactions. If sellers won't accept bitcoins buyers have no choice. Most of the people who mine exchange coins for dollars . Though some collect it and some exchange it for drugs and guns. Now, let's see how it should have ? A digital currency like bitcoin has potential to save lots of trees that are cut down every year for making paper notes (as in India). Also, it has potential to reduce robbery and frauds. It has potential to reduce crime, save environment if proper algorithms are used. Why this form ? I really want that crypto currencies are not just mined but used too. They should exist only if they can improve the world not just very few lives. I want the people to think what "Satoshi" missed while creating bitcoins. It will help to either bitcoins or create crypto-currencies that can make our world better. PS: I will be conducting a group chat soon. The aim of chat will be to address these problems (or those not mentioned) and their possible solutions. if interested you can leave your email and preferred time and day on https://docs.google.com/forms/d/1TSc8yB4elLu2Z3E99XDsp6xTEcnZddcqhZxcZhPF88w/viewform (https://docs.google.com/forms/d/1TSc8yB4elLu2Z3E99XDsp6xTEcnZddcqhZxcZhPF88w/viewform) . The time will be decided on the basis of majority and will be emailed to you. |