Bitcoin's Dystopian Future

[dnprock]

Bitcoin is considered "hard" money. It's powerful and revolutionary. But when I think about other assets like gold or oil, Bitcoin is more like fun money. People bled to get gold. Governments send armies to fight for and protect oil wells. If we were all brainwashed into believing a future of only 21 million coins as money, I agree that would be a dystopia. But humans are not that stupid. I think the future will have a bunch of currencies ranging from centralized to decentralized. Each design has its own tradeoff. I made a diagram to illustrate the possibilities.



This future is pretty exciting for me. It'll be good for Bitcoin too.

[znation]

Bitcoin has a bright future ahead, experiencing many obstacles in the value of growth, Bitcoin always exists and promotes. Contrary comments will not change Bitcoin towards new heights of technology.

[Voland.V]

Bitcoin as a capital flight to a level never before seen in history. The people to choose with their feet is much easier than before stepping. People will choose to live in places where security against physical and economic violence is the best. We must achieve a higher quality governance because places with very bad governance experience massive capital flight to make them poor and not very effective. This is a gift that is so little negative value.

The phenomenon that happens is that bitcoin is a capital flight, because it will not can tracked by the state financial authorities where the bitcoin owner lives. This is because bitcoin is anonymous. So on the one hand anonymity is good for bitcoin users, but on the other hand anonymously is misused to hide illegal results.

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Yes, on the one hand, complete anonymity. From the point of view that you yourself did not tell anyone that this is your Bitcoin, and that you bought for this Bitcoin.

I agree.

But what about your IP address?

There is no anonymity on the Internet. Even the users of the TOR browser and the VPN service have learned to track. Where is your anonymity here?

Moreover, in the blockchain chain, not only everything will be recorded that you have done, but there is also absolutely open access to this information.

It remains only to identify you with your wallet. This is not a problem.

[Voland.V]

Bitcoin as a capital flight to a level never before seen in history. The people to choose with their feet is much easier than before stepping. People will choose to live in places where security against physical and economic violence is the best. We must achieve a higher quality governance because places with very bad governance experience massive capital flight to make them poor and not very effective. This is a gift that is so little negative value.

The phenomenon that happens is that bitcoin is a capital flight, because it will not can tracked by the state financial authorities where the bitcoin owner lives. This is because bitcoin is anonymous. So on the one hand anonymity is good for bitcoin users, but on the other hand anonymously is misused to hide illegal results.

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Maybe this is so, but maybe this is a mistake.
If they are watching you, then they will track your IP, your location, yourself.

Watch the news, find everyone they are looking for. Yes, it is a matter of time and effort, a matter of price, and nothing more. And as soon as the user’s IP is installed, your affairs in the blockchain are easily and openly tracked. No, this is imaginary anonymity. Real anonymity is cash on hand.

 People who are forced to observe anonymity, including the anonymity of their capital, generally try not to deal with digital technology. You don’t even see a smartphone near them, the most nonchalant only have push-button phones.
And Bitcoin has anonymity only for the owner, which no one needs.

[Voland.V]

Bitcoin has a bright future ahead, experiencing many obstacles in the value of growth, Bitcoin always exists and promotes. Contrary comments will not change Bitcoin towards new heights of technology.

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Bitcoin has exactly the same future as blockchain technology. Let's see what the results will be. There are 2 processes in parallel:

1) Bitcoin covers more and more supporters and capital, is used as a means of payment. This is good, but very slow. Why? Because most owners of Bitcoin use it only as a means of accumulating and storing capital. This is a big problem and it is growing!

2) technologies are developing that can break any cryptography using public and private keys. These technologies are developing very rapidly. The worst thing is that the pace of their development is not predictable. First of all, it is quantum computing, which is given to users, as a service, through the network. Just pay the money and use it. This is problem. This is negative for us.

If you compare the speed of these two processes, then in my opinion, give a short time, and everyone will see the faster pace of development of process No. 2).

And finally, encryption on elliptic curves is probably no longer reliable. But no one ever admits this to us. There are a lot of benefits to those who are silent.

Read carefully my post of December 04, the second on this date, there are only verifiable facts, here:
https://bitcointalk.org/index.php?topic=5204368.40

Perhaps you will be more careful in your views on the future.

[Voland.V]

Bitcoin is considered "hard" money. It's powerful and revolutionary. But when I think about other assets like gold or oil, Bitcoin is more like fun money. People bled to get gold. Governments send armies to fight for and protect oil wells. If we were all brainwashed into believing a future of only 21 million coins as money, I agree that would be a dystopia. But humans are not that stupid. I think the future will have a bunch of currencies ranging from centralized to decentralized. Each design has its own tradeoff. I made a diagram to illustrate the possibilities.



This future is pretty exciting for me. It'll be good for Bitcoin too.

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If you take Fiat in electronic form, the convenience and speed of operations with it, then Bitcoin is not capable of this.

Of particular concern is the fact that most owners of bitcoin do not use it as a means of payment for goods. This is inconvenient - if the product is inexpensive. The bulk of Bitcoin investors - they just keep it for speculative operations in the future.

It can bury this cryptocurrency in a race with other means of calculation.