Bitcoin Forum

Bitcoin - a Means for Redistribution of Wealth

Rüdiger Koch
2012-09-27

http://ieet.org/index.php/IEET/more/koch20120927

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Amazing things would happen if a large percentage of transhumanists were financially independent. How can this be done?
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There is a way…
We need to redistribute wealth!
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Should 1 Billion people use Bitcoin in the future, the price will have to rise 5 orders of magnitude to compensate. In other words, if you buy a Bitcoin today, you have $12 to lose, should the project fail entirely. But you have $100,000 or more to gain should it succeed.

This already suggests how redistribution of wealth works in favor of early adopters. Early adopters are able to acquire Bitcoins cheaply.
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Cryonicists will find the option of a brain wallet interesting: As a private key is simply a very large (256 bit) number, it can be deterministically created from a pass phrase. This is a string of words that have meaning to you, possibly salted with things like your social security number. Since you can remember the string now, you should be able to remember it after your reanimation. So as long as you keep your memory, you can access your funds even if everything else has been taken from you during your time in the dewar.

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Transhumanists tend to be freethinkers, which means they usually can’t agree on anything. This is both the greatest strength and the greatest weakness of the H+ movement. But if we can agree for once to use Bitcoin and use our personal networks to spread it, there are enough of us to make Bitcoin’s success and hence, rising prices, a self fulfilling prophecy.
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Rüdiger Koch is CTO and founder of the first African Bitcoin exchange, Fikisha Africoin in Lagos/Nigeria. Previously, he worked as an IT Consultant in the banking and IT industry in Germany, Switzerland, Thailand and Singapore.
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Rüdiger serves as head of the Business & Bitcoin department of ZeroState and has previously served as vice chairman of De: Trans.

The IEET's mission is to be a center for voices arguing for a responsible, constructive, ethical approach to the most powerful emerging technologies. We believe that technological progress can be a catalyst for positive human development so long as we ensure that technologies are safe and equitably distributed. We call this a "technoprogressive" orientation.
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There are many ways to acquire Bitcoins. You can sell stuff for Bitcoins (http://www.bitmit.com/en/index.html) or you can work for them.