Bitcoin may not be ready for the majority of people. Right now it's definitely usable and convenient to us. But its market value is volatile, it's hard for non-technically-minded people to understand, and it's totally different from the fiat they're used to. So it'll be "stealth phase" for a long time, IMO.
Not as long as you think.  OP is correct, we are in the "stealth phase" Bitcoin 101: Why Bitcoin's growth is normal |
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"Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto currency is a punishable offence," the bank said in a statement on Monday.
Bank officials told AFP separately that anyone found guilty in Bangladesh of using Bitcoin could be sentenced to up to 12 years in jail. Sounds like the Bank is making the laws over there. This is what happens when you give banksters power. |
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Places like China and Russia and New York State are trying to stop Bitcoin in any way they can because they know what it is capable of doing to their money-monpoly scams. They see it's potential and they're terrified. They should be. Because it's over for them. The game is up, and they lost. Individual sovereignty won.
"Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship."
-Eric Fromm, The Sane Society
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I would disagree with this. Just because a currency has a very small unit of account does not make it overall worth less.
You should also remember that fiat is actually backed by something (the economy of the country of the government that issues it) while crypto currencies are not
Bitcoin is backed by observable mathematical truth. The laws of the universe as we know them. National FIAT scrip is backed by deception and violence. Learn about the PETRODOLLAR.This is how the value of FIAT is propped up: |
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You know what has been climbing in value recently?  The Zimbabwe 100 trillion bill, from a low of ~$7 to a recent high of ~$26. ALL FIAT IS SCAMCOIN. For most fiat, you just don't know it yet. |
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difficulty up --> time --> price up
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But bitcoin isn't money. How can he plead guilty to running a money exchange, when the IRS has ruled it isn't money. One of the perks of being a nation-state, is that you make the rules. You can interpret the rules as you wish, when you wish. Essentially you can have your cake and eat it too. The only meaningful way to understand "justice" in our society is to analyze it from a hierarchal perspective. "Justice" is top-down, always. "Social justice" that radical bottom up form, is marginalized and mocked for a reason. |
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You don't get the point. I am not talking of present day situation. Actually, I do get it, and neither am I. |
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This is from March 2011, back when Bitcoin was still very much a stealth technology that almost no one had heard about. Bear in mind that this man had not even heard of Bitcoin when this was recorded. Jeremy Rifkin on the second communication revolution"What is so interesting about this second generation communication revolution is that it's quite different than the first. I grew up on the first, centralized communications, top down. This second revolution is what we call distributed, and this is the key word. If people hear nothing else about what I'm saying, distributed, distributed, distributed. Now, two billion young people can send their own video, audio, and text to each other at the speed of light, open-source, peer to peer. It's completely distributed. Think file-sharing, youtube, wikipedia - it's a revolution. This ICT revolution, communication information revolution, is just now in the last year beginning to converge with the new energy regime." -Jeremy Rifkin I'm currently reading his excellent book:  |
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Personal suffering + reason + time = universal compassion.The formula for my ideological formation. Now have some modern scientific wisdom, it's free: https://www.youtube.com/watch?v=l7AWnfFRc7ghttps://www.youtube.com/watch?v=N7vXX33C6Mghttps://www.youtube.com/watch?v=m9wM-p8wTq4If a slave can choose his owner, does that make him free? That has always been the question to ponder for me, when it comes to capitalism. The only difference between capitalism and the other two major exploitative modes of production is that the labourer has a choice over their master and means of subsistence. Slavery, feudalism and capitalism are fundamentally the same in that their core relation is the same: in all three forms of the exploitative trinity there is a class of workers and a class of appropriators. Posts like this will inevitably be met with vulgar moralistic arguments by capitalist apologists, claiming that capitalism is the best humanity can manage and that we should thus stop complaining, as if we are the pessimistic ones. The ambition of socialism lies in its assessment that humans can do better than class society. Moralism and pessimism do not come into it, it is rather an assessment born out of a ruthless structural analysis of how class systems work. 
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translation: study shows majority of US consumers doesnt know how fiat really works.
Doh! Where do dollars come from? I think less than 10% is in tangible notes. The plastic cards are capable of reproducing pseudo-dollars or something and then there is fractional reserve banking, oh the humanity! . The TL;DR version is that the dollar is essentially a scam currency. |
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What would happen if all of africa made bitcoin their default currency and some hacker decides to steal every last coin from them, what do they do then? That makes sense, because as we know, today all Africans store their wealth collectively in a giant pit they keep digging, and throwing dollars into. It therefore follows logically that they'd have all their wealth stored on one blockchain address... |
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"The Bitcoin Halving" written and directed by M. Night Shyamalan. A story about bankers mysteriously jumping off bank buildings. A ragtag group of nerds discover that Bitcoin was designed as a fatal virus by an alien called something unpronounceable but sounds like Satoshi Nakamoto. The virus only infects people greedy for fiat currency. The cure is discovered to be hodling.
Brilliant! We need to build this out into a movie script at once! |
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I sure hope it will work like this. Because, if the fiat crash brings down the Internet and/or the electrical grid If electrical grid is up, internet is up. If electrical grid is down, we're looking at a truly apocalyptic scenario, and everything you said is moot. If that happens, no one will be concerned whatsoever with money of any sort. They will be concerned with survival - specifically water & food, heat & shelter, medicine (especially antibiotics), and guns & bullets - in that order. Bitcoin will not matter one iota in that scenario, and neither will any fiat, any precious metal, or any other resource that cannot be consumed or used to kill or heal. Lead (bullets) will be the only "precious metal" left, and a pound of it will be valued lower than a glass of fresh water. |
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It's a shame. These African countries are forever going to be in debt to the West and China etc. Bitcoin could be very useful to them but obviously they need the infrastructure there for the internet etc.
Debt is just the latest form of slavery, the White Western Banksters figured out a way they could legitimize it by integrating it directly into the core philosophy of capitalism. Little did they know this was a double-edged sword that would also fatally wound capitalism! It is the indebted nations that will have the last laugh when they are finally liberated from these chains. The western banking nations are in for a painful transition to the new economy. |
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Zimbabwe needs electricity and running water first Pfft, Zimbabwe already has capitalism - the glorious Free Market will decide what the people of Zimbabwe do or do not need. What need is there for such frivolous socialist luxuries like clean water and electricity? Surely you jest sir. /sarcasm |
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No one really NEED bitcoin, isn't it? Right now, there are like 206 sovereign nations in the world, each with their own official form of State Monopoly Money. From a volatility perspective, Bitcoin is already objectively superior to about 40 or 50 of them. If you're living in the USA or Western Europe, Bitcoin probably seems totally irrelevent to your life. After all, the dollar is stable, right? It works, so why do you need something else? The truth is you don't. Yet. But sooner or later your tune will change when your nation's fiat scrip inflation begins accelerating to disturbing speeds. Bitcoin is like water - you don't need it, until you do. Fortunately for all you nationalist ingrates, it will be ready and waiting, it will welcome you with open arms when you invariably come crawling back looking for a safe place to stow your wealth. It's not a matter of IF you will come with your bowl of worthless fiat begging for Bitcoin, it's a matter of WHEN. We are speaking of a mathematical inevitability here, friends. Do you understand? |
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