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Author Topic: Do most bitcoin users actually think..  (Read 3491 times)
Logik
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May 10, 2013, 06:22:28 AM
 #41

Do most bitcoin users actually think that bitcoin is going to 'replace other currency, ATMs on every street corner', etc. at some point in the future?

I think bitcoin is going to replace most currencies on the internet, at least (because it's far simpler and cheaper)

I also think the internet is going to eventually replace or disrupt a lot of older, offline technology and businesses (fair bet; already happening)

So when you put the two together, it's not really that much of a stretch to say that bitcoin will displace or disrupt a large amount of existing financial infrastructure. Talking in absolutes is naive.




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May 10, 2013, 06:35:47 AM
 #42

I suspect that any particular crypto-currency is more likely than not to succumb the the same sorts of pressures and corruption that most forms of wealth fall victim to.
Can you elaborate please? ...

Uggg.  In a nutshell:


   Wealth -->  Power --
      ^                |
      |                |
       ---------------


It's a vicious cycle with never ends well.



Since that same cycle is usually only disrupted by revolutionary events, whether or not it ends "well" or not very much depends upon who's back is up against the wall at that time.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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May 10, 2013, 08:09:14 AM
 #43

I suspect that any particular crypto-currency is more likely than not to succumb the the same sorts of pressures and corruption that most forms of wealth fall victim to.
Can you elaborate please? ...
Uggg.  In a nutshell:

   Wealth -->  Power --
      ^                |
      |                |
       ---------------

It's a vicious cycle with never ends well.

Since that same cycle is usually only disrupted by revolutionary events, whether or not it ends "well" or not very much depends upon who's back is up against the wall at that time.

It's usually not desirable to have revolutions unless they are necessary.  Usually they involve bloodshed which is unpredictable distributed.  But ya, that's what I alluding to by 'never ends well.'

One of my long-standing hopes for distributed crypto-currencies are that they can make the process of separating the wealthy from their wealth a bit less unpleasant for everyone involved.


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May 10, 2013, 03:13:30 PM
 #44

I suspect that any particular crypto-currency is more likely than not to succumb the the same sorts of pressures and corruption that most forms of wealth fall victim to.
Can you elaborate please? ...

Uggg.  In a nutshell:


   Wealth -->  Power --
      ^                |
      |                |
       ---------------


It's a vicious cycle with never ends well.

I did actually mean elaborate, not summarize. I know that wealth leads to power and power leads to wealth, but how can that lead to pressure and corruption that results in Bitcoin (or bitcoin holders) being the victim? Isn't the whole point of Bitcoin that you are in control, and are not at the mercy or whims of someone corrupt and powerful?
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May 10, 2013, 05:25:40 PM
 #45


I did actually mean elaborate, not summarize. I know that wealth leads to power and power leads to wealth, but how can that lead to pressure and corruption that results in Bitcoin (or bitcoin holders) being the victim? Isn't the whole point of Bitcoin that you are in control, and are not at the mercy or whims of someone corrupt and powerful?


It's not my interest to formulate a treatise on my political and economic philosophies for this thread at this time.

The OP seems to indicate that his/her goal was to do something of a survey of attitudes and postures within the 'Bitcoin community'.  My hope in responding was mostly to illustrate that as a community we are not without some diversity.


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