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Author Topic: Why not just a parallel Bitcoin economy?  (Read 146 times)
audaciousbeing
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September 10, 2018, 11:59:40 AM
 #21

Hey, so I've been thinking, with all this talk about mass adoption flying around and nocoiners calling bitcoiners a cult, maybe the truth is somewhere in the middle. There is definitely something religious about believing that Bitcoin will be the world currency at some point, but I also don't think that it will die off if the majority decides not to bother with it.

I think I am going to share the same view with you concerning the similarities between bitcoin and religion which might make bitcoiners pass as cultist and at the same time establish the difference between the two. Both are based on faith that this is the true way and every other way are just the wrong way. The difference however, is that, in the case of core bitcoiners, they do have some pratcial evidence to support their own position which can hardly be refuted compared to those those practicing religion.


But these two paths, boom or bust, are not the only ones available, aren't they. We already have a Bitcoin economy, although I would argue that it is disproportionately small in comparison to Bitcoins current marketcap. Why not just expand on it? Why can't there be a future in which bitcoin exists as an alternative to fiat money?

Why does it seem like everybody is so adamantly pushing for one of two extremes? Isn't it more likely that the truth will lay somewhere in the middle?

Studying current phenomenon, that is what will eventually happen as the bitcoiners will eventually accept that the reality is different from what they envisaged or else, it won't come to pass. Countries would develop blockchain and others would even go to the extent of recognizing it as a means of payment, but will not abandon their own currency which among other reason is their sole identity and that is one of the things being faced now with the continuous implementation of the KYC rules.
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September 11, 2018, 09:39:32 AM
 #22

Hey, so I've been thinking, with all this talk about mass adoption flying around and nocoiners calling bitcoiners a cult, maybe the truth is somewhere in the middle. There is definitely something religious about believing that Bitcoin will be the world currency at some point, but I also don't think that it will die off if the majority decides not to bother with it.

Thinking back to the first time I got in contact with Bitcoin, I didn't really think of it as being the "future of money". I kinda drank the kool-aid with the last massive pump. Not that I thought that would be the beginning of Bitcoin taking over, but maybe as a foreshadow of what was to come.

We tend to see things black and white and this is no exception. I have the feeling that even amongst bitcoin maximalists, there is a sentiment of "the whole world or nothing at all", that either at some point, Bitcoin will be the one money to rule them all or it will wither and die eventually. Being who they are in their somewhat religious state, they obviously didn't really bother too much with option two.

But these two paths, boom or bust, are not the only ones available, aren't they. We already have a Bitcoin economy, although I would argue that it is disproportionately small in comparison to Bitcoins current marketcap. Why not just expand on it? Why can't there be a future in which bitcoin exists as an alternative to fiat money?

Why does it seem like everybody is so adamantly pushing for one of two extremes? Isn't it more likely that the truth will lay somewhere in the middle?
I have seen a lot of people say all sort of things about this one currency  but the truth is that it is never happening anytime or it might never happen cause I don’t see any reason why we need it. One currency is never going to save us.

Things are alright as it is, the only problem we have in this world is that the wealthy ones are always looking for a way to oppress the poor ones.

And trust me, if this one currency of a thing happens to take place it will even make things even much better for the wealthy cause they always benefit from everything, the poor will never benefit from it.



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September 11, 2018, 11:22:33 AM
 #23

Fiat is definitely not the best store of value there is, and there are many flaws to it. And I completely respect their point of view as well because hey, at least they are not blindly falling into the fiat scheme that the government has set up, which isn't necessarily a bad thing in the short term, but in the long run will always depreciate and takes away from your wealth bit by bit through depreciation.
Fiat is actually the worst store of value that you can buy yourself into. If there is one pretty solid guarantee with fiat, then it's the fact that even after a year, the same amount of money will buy you less goods.

If you don't do anything to either keep stacking fiat, or hedge a large part of your net worth, you are basically accepting going through the process of wealth destruction. There is no other way to put it.

The average joes are programmed to think in a way that grants governments so much advantage over them, that it doesn't surprise me one single bit that we haven't seen any real progress throughout the last decades.

Whether you like it or not, fiat is here to stay probably. In which case, bitcoin will realistically only serve as an alternative, but will still be a huge role since you can always hold it to hedge against fiat.
Fiat indeed won't go anywhere, but that's all good. People should never be forced to use one specific currency. For me Bitcoin is it, but if others like to keep using fiat, they have all the freedom to do so, even if others think it's bad.

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