Why not just replace the bank infrastructure with something better

[franky1]

i think you dont understand what communist really means

communist is centralist.
capitalist is where rich aristocratics get the hands on communist money
socialist is where the civilians get the hands on the communist money

libertarian is decentralist
capitalist is where the rich benefit the most from lack of central control
socialist is where the civilians benefit the most from the lack of central control

so break it down
1. your capitalist aristocratic, one brand one currency. sounds like you want a communist:capitalist organisation running things
2. your civilisation of fair, non racist, open, no barrier system sounds like you want a libertarian:socialist open world running things

answer simply 1 or 2 which is your preference more aligned with

[dothebeats]

Then what do you propose for a system that will completely replace the banks? I don't like the banks either but I'm forced to use them since I have to finance my business/house etc., but for the common people they work well and gets the job done, and we do know that the people of this current generation don't want to overcomplicate things as long as they are working, so the change wouldn't be accepted immediately. I'm pretty sure, bitcoin was created for the civilization before speculation and capitalists arrived in the economy, and in the end you should blame the capitalists and not bitcoin itself for ruining a tool that could help liberate people from their financial woes from the banks and the governments.

[KingScorpio]

i think you dont understand what communist really means

communist is centralist.
capitalist is where rich aristocratics get the hands on communist money
socialist is where the civilians get the hands on the communist money

libertarian is decentralist
capitalist is where the rich benefit the most from lack of central control
socialist is where the civilians benefit the most from the lack of central control

so break it down
1. your capitalist aristocratic, one brand one currency. sounds like you want a communist:capitalist organisation running things
2. your civilisation of fair, non racist, open, no barrier system sounds like you want a libertarian:socialist open world running things

answer simply 1 or 2 which is your preference more aligned with

1. i want a financial system that gives/adds/edit socioeconomic generativity to the economy.

like it is the case on any urban planet, we will have an open one

[Bitdressa]

Why not replace the bank's infrastructure with something better, because banks can only borrow and save our money, they cannot make money without making a business or producing goods or services that our money can save in the bank, another case with bitcoin that can indeed make money in the form of coins by following a bounty.

[buwaytress]

1. stop saying bitcoin is a waste of electricity as it is like saying breathing is a waste of oxygen. bitcoin is digital. meaning electric. if you want something that doesnt 'waste' electric then go make paper and complain that its a waste of trees. or make a physical labour barter system and complain that its a waste of sweat.
~snip
you will actually find that cocacola alone uses more electric than bitcoin just to keep bottles and cans of cola chilled.. should you do the research

I never ever understood why this electricity power hungry carbon dumping argument ever got traction (I found it online even on old slides shown by economists in 2013/14). There's a lot of intangible benefit and plenty of tangible ones too to securing a network - which is one problem when talking about mining and generating new coins, that people forget miners are there firstly to secure the entire thing.

We're wasting infinitely more power playing games, leaving TVs on standby, watching cat videos... but nothing's a waste if it brings something that people want.

[KingScorpio]

1. stop saying bitcoin is a waste of electricity as it is like saying breathing is a waste of oxygen. bitcoin is digital. meaning electric. if you want something that doesnt 'waste' electric then go make paper and complain that its a waste of trees. or make a physical labour barter system and complain that its a waste of sweat.
~snip
you will actually find that cocacola alone uses more electric than bitcoin just to keep bottles and cans of cola chilled.. should you do the research

I never ever understood why this electricity power hungry carbon dumping argument ever got traction (I found it online even on old slides shown by economists in 2013/14). There's a lot of intangible benefit and plenty of tangible ones too to securing a network - which is one problem when talking about mining and generating new coins, that people forget miners are there firstly to secure the entire thing.

We're wasting infinitely more power playing games, leaving TVs on standby, watching cat videos... but nothing's a waste if it brings something that people want.

in bitcoin world-> mining bitcoin is most secury asset business -> surplus of miners

in engineering foundation world -> carbon fixed orienation (wheat, corn) is most secure business -> surplus of food producation

[franky1]

I never ever understood why this electricity power hungry carbon dumping argument ever got traction

mature adult bitcoiners dont say it.
is the teenagers who read old posts that they can get near free bitcoin using their desktop computer who then find out they read an outdated article because now bitcoin needs specialist machines.

in short its teenagers that are butt hurt because their moms complain about the electricity bill
funny part is. if bitcoin went back to CPU mining. todays 32xahasn would need trillions. yep i said it trillions of CPU's

people dont realise that an asic is multiple million times more efficient than a CPU

[franky1]

kingscorpio:
here is a novel concept..

imagine instead of banks creating money by getting loan applicants to sign a promissory note to magic up new credit as fresh cash..(PoS)

imagine instead of farmers creating money by mining the ground for assets to sell as fresh cash..(PoW)

imagine a world where the education system creates money by students studying real work skills and their grades(scholastic credit) became the cash that they could spend.
EG the better you study/better grade you got the more cash you get.

thus then removes a whole education sector out of needing a government tax treasury. because the education sector becomes self funding.

[KingScorpio]

kingscorpio:
here is a novel concept..

imagine instead of banks creating money by getting loan applicants to sign a promissory note to magic up new credit as fresh cash..(PoS)

imagine instead farmers creating money by mining the ground for assets to sell as fresh cash..(PoW)

imagine a world where the education system creates money by students studying real work skills and their grades(scholastic credit) became the cash that they could spend.
EG the better you study/better grade you got the more cash you get.

thus then removes a whole education sector out of needing a government tax treasury. because the education sector becomes self funding.

oh boy we surely will get a cash free society this way.

people work for money that

1. others value and use
2. think its good for them to work for, in the long term.

for bitcoin only 1st is partially the case, people dont want to use it.

[franky1]

oh boy we surely will get a cash free society this way.

people work for money that

1. others value and use
2. think its good for them to work for, in the long term.

for bitcoin only 1st is partially the case, people dont want to use it.

im not talking about current education system of butts on seats, shut up and listen to teacher schooling.
im talking about practical work skills education system.

EG teenagers WORK is education
adults WORK in on the job training and upskilling for promotion/payrise

take nurses and doctors. spending 3-10 years training to specialise in their medical profession earn enough credit to give them a good salary. where the funds unlock if their shown as employed

this would take out the whole debt/banking issues. and innovate the education/work skills area.
people will then want to work harder and get promotions which means retraining/upskilling themselves to accumulate more scholastic credit to earn a promotion and get to unlock their spendable credit

im thinking more about improving civilisation where each and everyone has a chance to earn,.. if they put effort into it

[esetop01tryba]

People are used to the fact that they are comfortable, they are afraid of the new and unknown, I think that it would be necessary that it took some time that people began to trust the crypto currency and use it on a par with traditional currencies around the world !

[gabmen]

kingscorpio:
here is a novel concept..

imagine instead of banks creating money by getting loan applicants to sign a promissory note to magic up new credit as fresh cash..(PoS)

imagine instead farmers creating money by mining the ground for assets to sell as fresh cash..(PoW)

imagine a world where the education system creates money by students studying real work skills and their grades(scholastic credit) became the cash that they could spend.
EG the better you study/better grade you got the more cash you get.

thus then removes a whole education sector out of needing a government tax treasury. because the education sector becomes self funding.

oh boy we surely will get a cash free society this way.

people work for money that

1. others value and use
2. think its good for them to work for, in the long term.

for bitcoin only 1st is partially the case, people dont want to use it.

Though it's a good thing to ponder about, i think we're not yet primed for changes like that. I mean, we've all grown so used to the current system that many of us would think nothing else would work. We need to have open minds for that.

[Harlot]

I think the biggest reason here is we don't own them. Banks are owned by billionaires asking them to change their infrastructure even nicely won't even change the thing. The only way we can change it is if the banks themselves see that their business is in trouble and the only way to do it is to adapt to the situation. But even that could not work as of course their main business which is lending money is always not affected by the demand as they always find a lot of people who is willing to loan out cash from them.

[KingScorpio]

kingscorpio:
here is a novel concept..

imagine instead of banks creating money by getting loan applicants to sign a promissory note to magic up new credit as fresh cash..(PoS)

imagine instead farmers creating money by mining the ground for assets to sell as fresh cash..(PoW)

imagine a world where the education system creates money by students studying real work skills and their grades(scholastic credit) became the cash that they could spend.
EG the better you study/better grade you got the more cash you get.

thus then removes a whole education sector out of needing a government tax treasury. because the education sector becomes self funding.

oh boy we surely will get a cash free society this way.

people work for money that

1. others value and use
2. think its good for them to work for, in the long term.

for bitcoin only 1st is partially the case, people dont want to use it.

Though it's a good thing to ponder about, i think we're not yet primed for changes like that. I mean, we've all grown so used to the current system that many of us would think nothing else would work. We need to have open minds for that.

current system isnt really interested giving people a long term generative foundation, thats its problem, its all about privatisation of income sources, so i want to create an opposing force that gives away sources, instead of scamming all and privatising everything and using them as money earning cattle.

current old system just needs a competitive network that is serious about interacting with the real world and the economy and not with digital markets!!!

[franky1]

I think the biggest reason here is we don't own them. Banks are owned by billionaires asking them to change their infrastructure even nicely won't even change the thing. The only way we can change it is if the banks themselves see that their business is in trouble and the only way to do it is to adapt to the situation. But even that could not work as of course their main business which is lending money is always not affected by the demand as they always find a lot of people who is willing to loan out cash from them.

yes banks as just custodians is not where banks profit.
they profit from creating cash X via signed promissory notes(bonds, mortgage agreements and credit cards) where people then pay them x+y.

they create X and get back at a later date X+Y. and the person who signed the agreement spends X and then has to work to earn X+Y to ensure they dont end up losing out on what they spend X on

banks never lose because the initial X is a zero cost game to them.
the only cost banks have is people and systems that feed off the latter X+Y when it returns back to them. which they now want blockchains to manage so that they can sack lots of staff, cut down on servers needed and let their blockchains do the auditing so that the X+Y they get back is pure profit.
thus no upfront cost and no latter cost

[KingScorpio]

i repeat,

banks are today either

A: racists

or

B: communists,

the people dont wont either.

i prefer replacing them with institutions that constructively interact with their environment

thats it,

just look at the currency the saudis created.

just because the banksters are valuing it, the entire population becomes the money earning cattle under it

banks enrich themselves at the expense of all others anyway, and have huge massive costs. just so people think they are important.

regards

[KingScorpio]

I think the biggest reason here is we don't own them. Banks are owned by billionaires asking them to change their infrastructure even nicely won't even change the thing. The only way we can change it is if the banks themselves see that their business is in trouble and the only way to do it is to adapt to the situation. But even that could not work as of course their main business which is lending money is always not affected by the demand as they always find a lot of people who is willing to loan out cash from them.

yes banks as just custodians is not where banks profit.
they profit from creating cash X via signed promissory notes(bonds, mortgage agreements and credit cards) where people then pay them x+y.

they create X and get back at a later date X+Y. and the person who signed the agreement spends X and then has to work to earn X+Y to ensure they dont end up losing out on what they spend X on

banks never lose because the initial X is a zero cost game to them.
the only cost banks have is people and systems that feed off the latter X+Y when it returns back to them. which they now want blockchains to manage so that they can sack lots of staff, cut down on servers needed and let their blockchains do the auditing so that the X+Y they get back is pure profit.
thus no upfront cost and no latter cost

banks are dependent on the population trusting them,