make no mistake... this is a revolution

[archetyp]

the powers that be.

[knight22]

Very good post!

Viva la revolution! 

[organofcorti]

Wait, what? This molecular?

You've inspired me to think a bit harder about the larger societal effects of Bitcoin, not just where I could spend my coins next. Thank you.

 
The era of the Nationstate is ending... The era of the corporatocracy is ending,... actually the era of aristocracy or whatever the structure of the current power-elite is, is ending.

This is the era of the people.

It will probably be the era of the cryptocracy. I'm not sure if this will be a good thing or not - anonymity in bitcoin has given us both Satoshi and Pirate.

[knight22]

Excact.

With bitcoin, we will have a to rebuild a whole society! I think this will become really huge

[molecular]

Dr. Steve,

I think your predictions are all likely to come true....

Predictions:

• Bitcoin will usher in the largest creation of wealth in the history of mankind.

likely. While bitcoin itself doesn't create wealth (you can't print wealth), it enables the people to create, through voluntary exchange (the economy), to create wealth.

• Historians will discuss BB (before Bitcoin)  and AB (after Bitcoin) as a defining moment in the history of money.

also likely. gold will be seen as a crude precursor to cryptocurrency that could only be exchanged locally. However, I think future historians will view "the internet" as the big change that happened. They will not even be aware that the internet has existed before cryptocurrency has.

• Many early adopter will become fabulously wealthy. And with this wealth will come great power and potentially political might as well.

Yes. They will be wealthy. But they will not rule the land by force. They will be investors and visionaries and they will try big crazy things. And in the end they will pass on their wealth or distribute it in some way and they will have lived good lifes. No envy. With great wealth comes great responsibility.

• Central banks will be forced to compete much the same way that the post office must compete with email.

also likely. however I think they will go down much faster. The post office still exists.

• When the debt implosion occurs in fiat currency, Bitcoin will stand even taller, and those that have entrusted their savings into Bicoin will be rewarded by its preservation.

also likely. let's just see to it that violence is minimized and let's welcome the past wrong-doers with open arms and enable them to play a positive part in our new society.

[btceic]

+10000000!

I am humbled by your eloquence sir, thank you for this!

[wopwop]

Predictions:

• 1. Bitcoin will usher in the largest creation of wealth in the history of mankind.
• 2. Historians will discuss BB (before Bitcoin)  and AB (after Bitcoin) as a defining moment in the history of money.
• 3. Many early adopter will become fabulously wealthy. And with this wealth will come great power and potentially political might as well.
• 4. Central banks will be forced to compete much the same way that the post office must compete with email.
• 5. When the debt implosion occurs in fiat currency, Bitcoin will stand even taller, and those that have entrusted their savings into Bicoin will be rewarded by its preservation.

1. bitcoin doesn't create net wealth, it destroys it in the form of electricity, and aloooot of it, existing currencies don't do this at all. let me take this moment to emphasize that energy consumed by financial services such as banks are not energy consumed to keep currency from dying, energy consumed by financial services are unrelated to the currency itself and the same would apply to bitcoin financial services anyway
2. too stupid for comment
3. already happened, it only happens once and it was on the back of naive people who haven't even realised it yet
4. they will perhaps adapt slightly, but that is all they need to do and probably will never have to (atleast not with bitcoin 1.0)
5. Debt implosion implies significant increase in dollar value, your mom and dad will beg and eat their own shit to get their hands on a dollar to pay their dollar denominated debts and to prevent getting into wars as another means of payment to that debt

[bitcoinbear]

make no mistake... this is a revolution

Consider our current monetary system: The central banks of this world are executing a "race to the bottom" between their FIAT-Currencies in order to keep GDP up (among other things), causing severe distortions in the otherwise functioning economy. Misallocations of capital continually produce bubbles and false price signals. Saving (setting aside money for later) is made impossible, hence money is not withheld from immediate spending (not because of the immediate need for products/services, but because of artificial inlfation). Manipulatd interest rates send false signals to the economy to do the wrong thing. The economy is sick... sick with a bad kind of money.

I don't want there to be a fucking 3rd world war... and I don't think most of you do, either.

I think there's a way to avoid it: if we transition to using types of money that are not controlled by the power-elite quickly enough, they simply wont be able to finance a war.

I don't want to be a serf,.. a slave, told by some institutionalized asshole how to act and think. I don't think you do, either. I don't want to be controlled by mass-channeled propaganda. And I don't think you do, either. I don't want to be constantly monitored in all my moves and analyzed in all my emotional state and thoughts. I don't want to be controlled, I want to be free. And I think you want to be free, too.

So what to do?

Nice opening post.

War is a way of wasting economic capabilities by building expensive items and the blowing them up on purpose.

[Chaoskampf]

Well done sir. Well done...

[Its About Sharing]

Molecular - I came across your post via a series of coincidences, too complicated to share here. 
But, we share a vision, a passion and perhaps some inspiration.

I think we all understand this may not be smooth sailing, but that is a large part of the specialness of what BTC is bringing to the show.

They are trying to regulate us and I'm not completely against some as long as it doesn't become a stranglehold. We are in a position of power and we shouldn't forget that. They should meet us in the middle.
If you notice the news pumping out stories of Liberty Reserve being shut down and perhaps Bitcoin being next, all the while ignoring that we are decentralized, you know we are on their minds. They are
trying to quell the storm that recently started to explode in the media. (Once we are a few hundred more dollars per BTC, they won't be able to. It is my STRONG belief we need to go slow here. Don't try
to do to much too fast (regarding price)).

Now the Fed is investigating the effect we have on their money. Wow, a private corporation seeing if we impact them. I think their terrible policy (e.g. - inflation - 85 bill more $ a month) is doing that fine alone.

It will be interesting to see who gets to that point of no return first, TPTB or BTC. My bet is on the latter and we might have already crossed that threshold, though the legality hanging over us needs
some attention as we are up against criminals who profit from wars and have been enslaving people for a long time. They don't want "competition" and they will make a more obvious move, count on it.

Exciting times ahead. Our Anti-Fragile Black Swan has entered the building and she is not going anywhere (see my sig). To do so just makes her stronger. We are the beginning of a technological revolution that we just don't understand yet.

My Brother,
IAS