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Author Topic: In which way bitcoin can change the future?  (Read 3959 times)
nakowa
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July 15, 2011, 03:33:05 AM
 #1

It needs a lot of imaginations to look forward into the future when it comes to such a revolutionary innovation as bitcoin.

What do you think?

In which way bitcoin can change the future, and how?

Amuse us! please.
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evoorhees
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July 15, 2011, 04:42:55 AM
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First and foremost, it allows frictionless transactions. It cuts out a number of middlemen by making them redundant - thus the transaction is more efficient. This means the wealth of mankind grows faster.
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July 15, 2011, 08:48:58 AM
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Basically, markets will be freer (much government meddling becomes impossible), resulting in greater economic growth, innovation, technology, quality of life, etc.
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July 15, 2011, 09:05:10 AM
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commoditization of (international) money transfers

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July 15, 2011, 02:37:55 PM
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Being able to donate to organizations like Wikileaks without corporate interference is a good start.

In general terms, I would summarize Bitcoin's trajectory as starting with 'wholesome subversion' and ending with plain 'wholesome'.
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July 15, 2011, 02:50:18 PM
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If everyone used Bitcoins instead of printable dollars, then wars would be less common.

Wars are funded mainly from printed currency.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
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July 15, 2011, 09:22:51 PM
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Neal Stephenson introduced an interesting idea of 'phyles' in his book Diamond Age:
http://en.wikipedia.org/wiki/The_Diamond_Age

These are effectively economic tribes.

I could see 'bitcoin users' becoming a phyle.

Say I go on a trip to New Zealand for 3 months and rent my accommodation from a 'bitcoiner'.   Then I hire a car off another 'bitcoiner'.
Effectively we have all joined one international like minded phyle.  There is money changing hands, but no pounds, euros or dollars.


 

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July 15, 2011, 09:31:14 PM
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With reference to a number of great posts above, with bitcoin it would also take half the time to develop faster than light speed travel technologies, as compared to the present scheme with middlemen leaching a few percent from every other transaction.


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A Great Time to Start Something!


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July 15, 2011, 09:38:26 PM
 #9

Bitcoin has already had a big impact, the future will be amazing.
Are you familiar with the original vision of the Paypal founder before reality (and eBay) took over?
People in all countries can protect themselves from the loss of value incurred with their paper money.  Smiley

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July 15, 2011, 09:42:54 PM
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Bitcoin will make governments and central banks and other banks honest. (Yea I know this is quite a stretch)

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July 15, 2011, 09:43:46 PM
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Bitcoin will make governments and central banks and other banks honest. (Yea I know this is quite a stretch)

Only if it succeeds.

Of course, if Bitcoin succeeds, it will topple governments.

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July 15, 2011, 09:49:49 PM
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Bitcoin will make governments and central banks and other banks honest. (Yea I know this is quite a stretch)
Of course, if Bitcoin succeeds, it will topple governments.
+1
sunyag
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July 16, 2011, 02:00:12 AM
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Bitcoin will make governments and central banks and other banks honest. (Yea I know this is quite a stretch)

Only if it succeeds.

Of course, if Bitcoin succeeds, it will topple governments.


There is no aspect of international markets which, in principle, would not be affected by Bitcoin. And because the international markets are the lifeblood of governments (and their wars), practically everything could be affected.

If the Internet was the 'relativity' of communications, then Bitcoin is the 'quantum mechanics' of economics.





evoorhees
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Democracy is the original 51% attack


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July 16, 2011, 04:38:05 AM
 #14

Maybe a better question is, "what wouldn't be affected by a Bitcoin-based monetary system?"
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July 16, 2011, 05:11:58 AM
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Maybe a better question is, "what wouldn't be affected by a Bitcoin-based monetary system?"

Quite right.
nazgulnarsil
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July 16, 2011, 05:20:19 AM
 #16

Neal Stephenson introduced an interesting idea of 'phyles' in his book Diamond Age:
http://en.wikipedia.org/wiki/The_Diamond_Age

These are effectively economic tribes.

I could see 'bitcoin users' becoming a phyle.

Say I go on a trip to New Zealand for 3 months and rent my accommodation from a 'bitcoiner'.   Then I hire a car off another 'bitcoiner'.
Effectively we have all joined one international like minded phyle.  There is money changing hands, but no pounds, euros or dollars.


 

Yes, bitcoin could effectively make the internet the first non-geographically contiguous country.

also about paypal: yeah Peter Thiel is awesome.  One of the few people in the world who genuinely cares about the future even when caring about that future signals weirdness to others.  He is the biggest supporter of SIAI and supports SENS (people working seriously on friendly AI and radical life extension respectively).
nazgulnarsil
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July 16, 2011, 05:23:24 AM
 #17

With reference to a number of great posts above, with bitcoin it would also take half the time to develop faster than light speed travel technologies, as compared to the present scheme with middlemen leaching a few percent from every other transaction.



FTL violates causality.  Acausal universes probably can't harbor life.
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July 16, 2011, 06:37:53 AM
 #18

It needs a lot of imaginations to look forward into the future when it comes to such a revolutionary innovation as bitcoin.

What do you think?

In which way bitcoin can change the future, and how?

Amuse us! please.

Bitcoin will cause a huge split in the market, and possibly lead to a full-scale nuclear world war, when the Bitcoin block chain on the Mars colony permanently forks from the Earth one due to the 15 to 30 minute communication lag, leading to double-spending, loss of faith in the currency, and vastly increased tensions between two already strained political entities. Satoshi should've foreseen the 10 to 20 minute one-way radio transmission time issue when he designed Bitcoin, and made the block generation either take more time, or have built-in interplanetary redundancy.

(you didn't specify how far in the future)

Vladimir
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July 16, 2011, 06:42:57 AM
 #19

With reference to a number of great posts above, with bitcoin it would also take half the time to develop faster than light speed travel technologies, as compared to the present scheme with middlemen leaching a few percent from every other transaction.



FTL violates causality.  Acausal universes probably can't harbor life.


Of course, but hey... not so long ago people were as sure as you now on the above that the Earth is flat.

Moreover, even if your statement is true, this does not make my statement false i.e. there is nothing wrong in the following formula:
 
  infinity/2


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wareen
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July 16, 2011, 07:44:52 AM
 #20

Moreover, even if your statement is true, this does not make my statement false i.e. there is nothing wrong in the following formula:
 
  infinity/2
Very true - also I'm not bought on the inherent problems of acausal universes - sounds like it would be a fun place to live in Wink

Vladimir, I see you've given up on your "reliable UK-based business" tag again - does your sig somehow reflect your view of the current state of the Bitcoin economy? I admit I found it funny to see when you changed it last time with the great influx of new people - possibly to give a more serious impression to potential new customers. What made you change it back now?
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