Trance (OP)
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March 20, 2014, 04:11:29 PM |
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"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -Henry Ford
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Some people are so poor ALL they have is money
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IrishFutbol
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Activity: 70
Merit: 10
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March 20, 2014, 04:13:13 PM |
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To any current coin, never.
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Beliathon
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March 20, 2014, 04:16:40 PM |
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2-5 years would be my educated guess as a political scientist.
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westkybitcoins
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Firstbits: Compromised. Thanks, Android!
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March 20, 2014, 04:19:22 PM |
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I suspect the poll was really asking about "collapse" or even "restructuring" as opposed to "revolution."
With that in mind, I voted 3-5 years; things are still way too comfortable for too many people for any significant portion of U.S. citizens to actually generate enough pressure to initiate change.
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Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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Swordsoffreedom
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Leading Crypto Sports Betting & Casino Platform
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March 20, 2014, 04:19:38 PM |
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Depends on how strong the propaganda I mean media is pushed
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Trance (OP)
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March 20, 2014, 04:26:10 PM |
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2-5 years would be my educated guess as a political scientist.
Political scientist, interesting, where do you work? Where did you obtain your degree?
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Some people are so poor ALL they have is money
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Trance (OP)
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March 20, 2014, 04:27:42 PM |
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The Four Horsemen - Renegade Economy If this was launched on NATIONAL TV in the United States, Bitcoin might rise to $10,000+ ~ !
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Some people are so poor ALL they have is money
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TTM
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March 20, 2014, 04:30:05 PM |
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I don't know how about fiat, but cryptos are crashing hard today, both btc and ltc
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mgburks77
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March 20, 2014, 04:33:46 PM |
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Within 20 years all work will be done by software or machines. Human labor will be virtually unnecessary.
We have a market based system that depends on consumerism to function. Yet in 20 years there will be no jobs for anyone to do. All of the professions and everything else will be done by machines. If people do not have money then how will they buy products and fuel consumerism?
Conclusion: Major political and social change is on the horizon.
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whtchocla7e
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Worlds Simplest Cryptocurrency Wallet
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March 20, 2014, 04:34:08 PM |
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And what would FIAT be replaced with in 5 years??
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OROBTC
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March 20, 2014, 04:34:50 PM |
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...
As we saw in the cases of Rome and Britain, it can take a long time for an empire to disintegrate. That means that it is perfectly possible to have a good life and enjoy things even if things are heading into the crapper.
And, really, it is up to each of us to look after ourselves and our loved ones.
(My vote was 5 + years)
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mgburks77
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March 20, 2014, 04:36:25 PM |
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And what would FIAT be replaced with in 5 years??
A moneyless system is inevitable, but it will take more than 5 years and will be accompanied by a lot of political turmoil as those whose power is vested in the current system struggle to retain control of their power.
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Trance (OP)
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March 20, 2014, 05:17:40 PM |
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Within 20 years all work will be done by software or machines. Human labor will be virtually unnecessary.
We have a market based system that depends on consumerism to function. Yet in 20 years there will be no jobs for anyone to do. All of the professions and everything else will be done by machines. If people do not have money then how will they buy products and fuel consumerism?
Conclusion: Major political and social change is on the horizon.
More like by the year 2020! Equality is so far off that there will either be obesity or starvation, sorta the way things are adapting now.
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Some people are so poor ALL they have is money
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IrishFutbol
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Merit: 10
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March 20, 2014, 05:35:54 PM |
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1. Think of how much would have to change in our nation technology wise in order to completely do away with paper bills and coins. Then realize how much more advanced the US is compared to many other countries. This would prevent any change for a few decades.
2. You cannot have individuals in-charge of mining your sole currency. Simple fact, energy is expensive in the US and Europe compared to the rest of the world. We're any crypto currency made the sole currency (and therefore incredibly more valuable than any coin currently is), you would rapidly approach the equilibrium of cost to create a coin = value ofa coin. Therefore, all mining would be done in pollution friendly countries that rely on sources like coal to power computers. Good luck convincing citizens of the developed world to hand over this much power and wealth to China.
3. Contrary to Libertarian beliefs, there are actually positives that come along with a central bank, and economies can go to hell really fast if someone's not making sure that there's an appropriate amount of money floating around.
4. If any coin was widespread, it would not be that much different than current currency. If anything, and we did end up switching to some crypto currency, it would not shock me in the least if it was through government manipulation into some code that they not only controlled the production of, but could track with ease as well.
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Bonam
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March 20, 2014, 05:53:33 PM |
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As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse. The world's economies have weathered the last recession like they did every one before it and are now back on the path of growth and prosperity. Yes, there's always issues to address with the nature of banking, the extent and type of regulations, the security, cost, and speed of transactions, etc, but these are all evolutionary changes that will happen over time, not requiring any collapse or revolution.
With any luck, cryptocurrencies like bitcoin will exist in parallel, allowing a different kind of functionality, and a different sets of advantages and disadvantages, to government fiat money.
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Agent99
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Activity: 147
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March 20, 2014, 06:13:56 PM |
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I don't know how about fiat, but cryptos are crashing hard today, both btc and ltc
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westkybitcoins
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Firstbits: Compromised. Thanks, Android!
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March 20, 2014, 08:19:10 PM |
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As far as I can tell, there's no reason to believe fiat currencies/economies are headed for any kind of collapse.
Sure there is: the simple mathematical fact that an ever-increasing expansion of debt (which the current system is based on) is unsustainable. It has to end, either voluntarily or involuntarily. And since TPTB don't seem too keen on letting the system end voluntarily....
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Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
... ... In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber... ... ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)... ... The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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Taras
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Please do not PM me loan requests!
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March 21, 2014, 01:39:47 AM |
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I remember preparing for the death of the dollar in 2012 Then the silver bubble popped... Then I found bitcoin
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dank
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You cannot kill love
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March 21, 2014, 02:43:15 AM |
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The answer is yes. It would be wise to prepare, the sooner the better.
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Bit_Happy
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A Great Time to Start Something!
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March 21, 2014, 05:04:14 AM |
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The longer the Collapse is delayed the worse it will be. It has been delayed for decades.
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