My question is this:
- Is the whole peak oil thing and it's doomsday predictions just a bunch of mis-information?
- If the consequences of peak oil are what some of these "experts" are predicting, what contingency plans do all of you have in place?
- Assuming oil was exhausted, do you think the market can innovate to support the current world population? If so, how? I personally have yet to see a technology or resource that could even remotely compete with all of oil's uses.
Essentially, I'm just trying to see whether any bitcoiners think there is validity to all of these peak-oil claims. And if there is, what you propose we do about it.
I'm so glad I get some exposure to this kind of discussion again.
I want to go off on a bit of a tangent and reference Nassim Taleb and say that it might be more productive for us to simply admit that we do not know. I've been on so many band wagons this last decade that I've started to wonder if I have a fascination with apocalyptic scenarios (Global Warming / Climate Change, Economic Collapse, Peak Oil, Global Federalization) Some of these things are starting to seem like less of an issue (with the exception of US economic collapse) So for me personally I don't know.
What I do think is that the entire system has not been allowed exposure to enough random shocks to ensure a stable base. So due to governments, oligarchies, supranational organizations all maintaining the status quo in many fields critical to human survival for too long, it makes any pending adjustment back to something more efficient and robust a potentially painful and very unpredictable one. Something might go wrong but it might be completely unexpected (nuclear war for instance)
The only contingency that I can come up with is to attempt to prepare and benefit from what you feel will most likely happen (me I'm buying bullion and increasing current cash flow) but at the same time prepare for a world that may be much more chaotic than it is now. The second part would need us to turn into a well educated survivalists that are motivated by the fun and excitement of experimentation. That makes it both enjoyable in the present and profitable in the future.