Bitcoin... Where is this all going?

[Burdy]

Of those in power:

The unintelligent ones won't be able to adapt and fight to preserve what they have, only postponing the inevitable.
The intelligent ones will takes this time to adapt and preserve their power. Honestly, not even that much intelligence is needed for them to pull that off.

Good point; those who aren't quite so bright will think they have a better chance trying to fight Bitcoin.  But that's like trying to fight the Internet; you just won't win, and from what I've gathered about men in power, they're not very tech-savvy, so I don't predict many will attempt to adopt Bitcoin, or even see why it's the path of least resistance.  The US dollar's a sinking ship, and those who take the time to understand why Bitcoin is so vital at a time like this will persevere in the end.

Agree with this completely. Good post sir.

[wachtwoord]

Of those in power:

The unintelligent ones won't be able to adapt and fight to preserve what they have, only postponing the inevitable.
The intelligent ones will takes this time to adapt and preserve their power. Honestly, not even that much intelligence is needed for them to pull that off.

Good point; those who aren't quite so bright will think they have a better chance trying to fight Bitcoin.  But that's like trying to fight the Internet; you just won't win, and from what I've gathered about men in power, they're not very tech-savvy, so I don't predict many will attempt to adopt Bitcoin, or even see why it's the path of least resistance.  The US dollar's a sinking ship, and those who take the time to understand why Bitcoin is so vital at a time like this will persevere in the end.

Agree with this completely. Good post sir.

Well for the most part. The not-tech savvy is not so important as the core concepts of Bitcoin are completely unrelated to the (extremely elegant) technical mechanism behind it. Everyone can understand scarcity. The cryptographic security might be harder to grasp but one can argue this is not technical but mathematical (although this depends on ones definition of technical).

I think most or all people in power who achieved that position under their own strength and not by being taken under someones wing, will manage to migrate most of their power to the new status quo. Most of those that don't deserve to be there will fall from their pedestal unless taken by the hand by those that do.

[ranlo]

Of those in power:

The unintelligent ones won't be able to adapt and fight to preserve what they have, only postponing the inevitable.
The intelligent ones will takes this time to adapt and preserve their power. Honestly, not even that much intelligence is needed for them to pull that off.

Good point; those who aren't quite so bright will think they have a better chance trying to fight Bitcoin.  But that's like trying to fight the Internet; you just won't win, and from what I've gathered about men in power, they're not very tech-savvy, so I don't predict many will attempt to adopt Bitcoin, or even see why it's the path of least resistance.  The US dollar's a sinking ship, and those who take the time to understand why Bitcoin is so vital at a time like this will persevere in the end.

Agree with this completely. Good post sir.

Well for the most part. The not-tech savvy is not so important as the core concepts of Bitcoin are completely unrelated to the (extremely elegant) technical mechanism behind it. Everyone can understand scarcity. The cryptographic security might be harder to grasp but one can argue this is not technical but mathematical (although this depends on ones definition of technical).

I think most or all people in power who achieved that position under their own strength and not by being taken under someones wing, will manage to migrate most of their power to the new status quo. Most of those that don't deserve to be there will fall from their pedestal unless taken by the hand by those that do.

Heh, your post reminds me of "a fool and his money will be soon parted." I don't quite agree to the fluctuation of power, though. Power is about who you know, not what you know. I think once you are in one of "the circles" it's very hard to be removed.

[markeysss]

100 - 150 - 500 

[ranlo]

100 - 150 - 500 

It should go down before it goes up. While I have no doubts it will hit 500+, it's more like:

100 - 120 - 130 - 125 - 110 - 140, etc. while slowly averaging a higher price over time.

[WhiteThunder]

Of those in power:

The unintelligent ones won't be able to adapt and fight to preserve what they have, only postponing the inevitable.
The intelligent ones will takes this time to adapt and preserve their power. Honestly, not even that much intelligence is needed for them to pull that off.

Good point; those who aren't quite so bright will think they have a better chance trying to fight Bitcoin.  But that's like trying to fight the Internet; you just won't win, and from what I've gathered about men in power, they're not very tech-savvy, so I don't predict many will attempt to adopt Bitcoin, or even see why it's the path of least resistance.  The US dollar's a sinking ship, and those who take the time to understand why Bitcoin is so vital at a time like this will persevere in the end.

Then this poses a completely different question. Once "those in power" realize the potential and shift to bitcoins, will they then try to control bitcoin? They have the money to drive up the market, and at that point they will have the bitcoins to demolish the market as well. So is bitcoin really as distruptive as we think it is? Perhaps this is not only an economic experiment but a social experiment as well. With the goal of understanding the socioeconomic balance of power and just how far "those in power" are willing to go to preserve it. So my original question was not geared towards numbers but social, economic, and socioeconomic implications.