Bitcoin Forum

http://www.telegraph.co.uk/technology/news/10881213/The-coming-digital-anarchy.html

Almost, but not entirely, untrue. Anyway it is good that a journalist starts to open his mind a bit.

Uh-Uh can't wait for the future

This is a surprisingly long article on Bitcoin. The title used the word "anarchy" in a positive way as in "without government control". Not news for those who follow bitcoin developments. Fairly informative introduction to the ways in which "blockchain technologies" can be used to replace current non-transparent systems.

Nice to see a long article about Bitcoin and technology. For most bitcoiners it is not new, but I think to many people it is;

A surprisingly unbiased and well informed article. Think we reached a new standard here.

Some would say overly long.

Still, nice to see some discussion of Bitcoin beyond the currency (and, dare I say, crypto beyond Bitcoin). :P

Jesus christ...that is LONG. I like it tho...i got down to the last sentance....but still...damn...it's long!


Anyway comment to article. It's just one way world could go with BTC. Everything inside that article that was wrote as "replaced by blockchain" can adept and change, and use that blockchain as it's own advantage. They doesnt need to dissapear. Blockchain is just storage of information and people need more than just information. More than just security of their bitcoin. You need security in a way that you will receive your goods and many more. Nothing that blockchain can solve. But businesses around blockchain can.
For example PayPal. Many thing that they will perish with BTC on the rise.
What if PayPal embraces bitcoin?
What if they start using it to move money around the world (now they use banks).
What if they offer "buyer protection" and "seller protection" to BTC users? Will they perish?
No they ownt. They can turn it into their advantage and live out of it, just like they live out of fiat transactions. As security layer for buyer and seller.

There are many more examples where similar approach can be used. Businesses that we think will dissapear can adopt BTC and become stronger and better because of it.

pretty cool article...

I don't really agree with Mike Hearn's vision though.
Meaning that, I don't think computers will be smart enough
to run businesses, at least not in the next 50 years.

"The measure of the state’s success is that the word anarchy frightens people, while the word state does not. We are like those African slaves who believe that their master is their benefactor, or those Russians who still believe that Stalin was their guardian."
-Joseph Sobran

See what the age of Twitter has done to the attention span of readers?

Tragedy, travesty, disgrace, and shame. Nothing could be more important than patience and critical thinking skills in readers...

Read all of the article this morning. I can't remember a single instance in the past where a journalist working for a ( once hostile ) mainstream media mouthpiece has articulated Bitcoin and the blockchain so succinctly.

Bitcoin has definitely arrived - I don't know if this is good or bad. Perhaps this is the next question.

I read it (patience) and I think it could be more concise (critical thinking). ;D

This should help clarify the issue for you (https://www.youtube.com/watch?v=joITmEr4SjY).

decentralised system mentioned by the article is beyond the cryptocurrency and can solve many existing problems in society. A bit innovative idea.

How could it be bad?

Once "they" get their hands on it they will pervert it.

digital anarchy? the cable companies, at least in the U.S., are basically decoupling themselves from net neutrality laws.. they are going to become absurdly powerful.

only if "we" let them.

That kind of blatant tyranny could be just the kind of spark the sleeping citizens need...

i doubt it. i've been saying that for a while, and nothing has happened. all they'll do is just put more money into lobbyists, while most people are occupied with working/providing for their families.. or occupied watching reality tv shows.

Google will come to our rescue.

No ... they must spend it.
Because, we, the people only want to be pay with "real" money.

the cost for installing fiber optic connections is currently too expensive for google to make any significant splash. people are becoming more desperate for it though, so maybe google can pre-charge people for installations and then give them credits after everything is running.

If the major ISPs get their way, you will find many wealthy people suddenly willing to throw massive funds at google to make cost a non-issue. I am one such person.

i don't know if that's quite enough.. the major ISPs already have a strong connection with lobbyists in washington.. and probably with the FCC as well. google can end up winning the fight though, but they'd have to go up against comcast/time warner/verizon/att/cox.. that's a pretty big task there.

Blockbuster video had strong connections with the rich and powerful too. So did the newspaper industry. So did the FAX industry. So did the Nazis, for that matter.

what did blockbuster need lobbied? and how strong was their connection? because i know one thing: ISPs have been lubing politicians for a long, long time now. and it's not just one, but 5 or more big ISPs that can throw tons of money at them. they have so much sway that they are now removing net neutrality laws, which gives them even more power.

For every political action there is an equal and opposite political reaction. Haven't you been paying attention? The backlash against this breach of trust has been ENORMOUS and non-stop.

We still have until September to stop those net-rigging rules from becoming laws of the land.

They will destroy themselves. As alternative options grow we don't need the dinosaurs anymore. 

I cant wait to see blockchain tech used for national votes! No more stuffing ballot boxes  ;D

That would be spectacular. We have never had an accurate election in the US.

Yes, we will.  We're working on some Bitcoin derivatives now.  Stay tuned.

are you talking about the ISP companies? if this net neutrality issue continues, i really hope google, netflix, amazon, and other companies that rely on the internet band together to expand a fiber optic network that would destroy them.

The world would be a much better place without fiat currencies.  However, if that happens, I don't see crypto-currencies making governments obsolete, just smaller.  Without the ability to borrow on a massive scale or impose an inflation tax and with the difficulty of enforcing an income tax, they'll have to rely on other sources of revenue like sales taxes and property taxes.

I agree, some governments will be hit harder than others. The ones that will suffer greatly are those that wager half their nation's economy on a military industrial complex (https://www.youtube.com/watch?v=8y06NSBBRtY), since they are entirely dependent on never-ending inflation to feed the monster. These types of violence-prone governments will be the hardest hit by the forced obsolescence of their fiat scrip. Places like Sweden will survive the transition relatively unscathed.