We need to end this "continuous growth paradigm" that is partly a consequence of (or at least intricately intertwined with) the type of money we use. Transitioning to using sound money is a big step towards becoming more resource efficient. The psychopathic powers that be are already shitting their pants regarding their debt regimes threatening to fall apart (Beligum), trying to start ww3 to get out of that deadlock they have maneuvered themselves into. I hope the people of the world will be prudent enough to see through the false flags (example: chemical attacks in syria last year) and violent provocations by payed mercenaries. I also hope our whistleblowers will keep informing us.
I think the easiest and most effective step we can take as people of the world in order to scale down our natural resource usage and to avoid bloody conflict is to transition to using crypto. It'll force governments into fiscal prudence eventually and it'll force actors making bad decisions to suffer the consequences of their actions, as it should be.
Glad to see you took the time to bring this topic to the
Troll Wall observer thread as well
The potential for Bitcoin/crypto to facilitate a transition to a sustainable economy (as opposed to an infinite growth oriented one) through providing an alternative deflationary monetary system is a huge deal. HUGE DEAL.
The fantastic thing here is that this needn't rely on the prudence of a great many people (like you are calling for), not even their general intelligence. Instead by simply providing a superior system with lower friction, transaction cost and greater control and sovereignty over your funds people will be attracted to the superior system (see
Greshams Law ) and start preferring it.
you just put a big smile on my face ;-). Let's hope it'll work out that way.
The superior system meanwhile provides incentives for responsible fiscal and economic behavior - namely SAVING (pejoratively known as "hoarding") money and SAVING resources.
I make a distinction between
saving and
hoarding: hoarding is "keeping under the matress" while saving really is "investing" (optionally via entities specializing in this (savings & loans)). I think it's is important to make this distinction because for
saving to fulfil it's purpose, namely sending a price signal by lowering interest rates (the price of money) and effecting investment into higher efficiency, innovation, etc, the saved money need to be loaned out or somehow else put to use in the economy as capital. If money is
just hoarded, this function isn't being fulfilled.
Can you guys agree with this distinction / view?
Now, implementing "savings & loan" businesses in the bitcoin world is extremely hard, because it contradicts (or at least seems to contradict) the trust-free and potentially privacy-preserving nature of bitcoin. After all: you need some kind of pressure for the borrower to pay back. There have been many attempts to solve this, but most attempts got drowned in scams.
Maybe hoarding is enough of a signal (less buying) to regulate economic activity? I'm not sure.
Poll
