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Economy / Economics / Re: Will bitcoin effect the current economy system?
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on: January 26, 2018, 06:03:44 PM
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Lot of people are talking about the economic effects of bitcoin, but they forget that the main impact will be at political level:
it the system really become decentralized, a lot of institutions will become obsolete; this change will start a revolution so big that nobody can really predict its consequences.
In order to make financial institutions and the government with its on debt based system obsolete, we need the average joes to cooperate when it comes to initiating a revolution. It's the mass that can make the real difference here, and as long as this mass keeps allowing the government to dictate their life and treat them as a cash cow by having them pay tax endlessly over the same amount of money, nothing will change. Great first step for people is to stop being so fiat centric. Another important step is that people should understand and appreciate how much financial freedom Bitcoin offers to the outside world. At this point in time, the extreme majority of the digital payments we conduct, and value we store in a digital manner, require approval of centralized entities being the banks, MasterCard, Visa, PayPal, Skrill, etc. We need to cut these greedy and obsolete services out entirely. Bitcoin allows you to do exactly that. Totally correct, bitcoin and block chain offers services where we do not need third party, like we do in banking system. With that we would not have to pay some taxes fees, and we could save that money for something else. It will take time before people fully understand what bitcoin is and how it benefits us all. That is all part of that revolution you guys speak of. Revolution begun when bitcoin joined this world, and it is up to all of us to support it if we want to see it survive. Some people (like people in those institutions that will become obsolete) will fight and will do almost anything to see bitcoin fails, because it is not in their interest to have something they can not control. As long as people support bitcoin and use it, it will survive and will continue its path of changing the world. Awesome! Thank you, I have gained more knowledge from you guys. |
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