Bitcoin fixes everything - how does it fix Pharma?

[zander1983]

Was talking with my gf who has diabetes type 1. The main reason it hasn't been cured is because maintenance drugs make more money than cures. A lone doctor recently came up with a stem cell cure, but it will take a long time to come to market. A trillion dollar industry was not incentivised to put money into a cure - yet one doctor could do it. How does Bitcoin solve this incentive? Or can it?

[348Judah]

This is jow the application of where and what you wanted to use bitcoin for, unlike other assets or form of currencies like fiat, bitcoin has more applicable use to provide solution to the economic needs of the people. The first one is as a currency, when you have bitcoin as your digital currency then it can be easily utilized to make payment and perform transactions with, secondly as an investment asset, bitcoin is a good source of an investment that could yield profitability over time and increase in value, thirdly as well, the blockchain technology in which bitcoin operates with can be use by the pharma industry among ither to safe keep there data and valuable information assets where it is decentralized, private and immutable on the public distributed ledger, all about bitcoin and the atmosphere of it operations are to give human the very best comfort we could ever seek after in finance and life entirely.

[hatshepsut93]

Of course Bitcoin can't fix it. Only insane fanatics who grasp at straws to find a reason why Bitcoin should go up and up think that Bitcoin fixes everything. Bitcoin is just a payment method. It can only fix problems that are related to payment methods - like getting money from Person A to Person B with minimal friction and no obstructions from the government or other third parties. Clearly the problems with drug industry has nothing to do with financial transactions, so Bitcoin can't offer anything here.

[ImThour]

Bitcoin doesn't fix everything, its not a magic at all. Stop learning from the Bitcoin Maxis at Twitter and start reading the actual whitepaper which satoshi wrote.
Whitepaper : http://www.bitcoin.org/bitcoin.pdf

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."

People are understanding different things about Bitcoin which it was never invented for.
Good Luck, hope you cut the chain of misinformation.

[Darker45]

I feel sorry for your girlfriend. I hope she'll eventually be cured of her illness.

Bitcoin doesn't fix everything. While some die-hard Bitcoin fans like to portray Bitcoin as the cure-all technology, it doesn't need a genius to realize its absurdity. It's all exaggeration. Bitcoin is no silver bullet. As a matter of fact, quite frankly, if Bitcoin suddenly dies today, the world would go on as usual as if nothing has changed. That's how insignificant Bitcoin actually is to the world. Although to a few of us, it's a great loss.

[adzino]

Was talking with my gf who has diabetes type 1. The main reason it hasn't been cured is because maintenance drugs make more money than cures. A lone doctor recently came up with a stem cell cure, but it will take a long time to come to market. A trillion dollar industry was not incentivised to put money into a cure - yet one doctor could do it. How does Bitcoin solve this incentive? Or can it?

I don't know where you heard or who told you that bitcoin fixes everything. In fact it hasn't fixed anything. It only made things better and easier, but do has some lacking of its own. I find it funny when people try to reason or solve literally all problems with bitcoin. Don't know what made you think that bitcoin can help fix the "big pharma" problem. It can't. But maybe yeah, that "lone doctor" could share his wallet address publicly and tell people to donate so he can continue with his research?

[spectre71]

I highly doubt a lone doctor came up with a stem cell based cure, sounds like click bait material. Doctors aren't research scientist. That would be like my mechanic building a tesla in his garage.

Bitcoin also failed to remove the Bermuda grass from my yard and solve middle east peace.

I'm sorry about you GF struggles. That sucks. Pharma is only a part. New things need to go through a long, expensive approval process by the FDA.

Example:  Covid was fast tracked past the FDA basically, right side of my face has had bells palsy for months. Insurance company reports a 40% increase in deaths amongst healthy people.
 

[dansus021]

bitcoin cant fix the pharma maybe they can only fix it with the data that can be stored through blockchain, but I hear that some of cryptocurrency work with the folidng@home to cure cancer although the folding@home itself although "Folding@home does not endorse any cryptocurrencies at this time but we are happy to engage with participants with a wide variety of motivations. Whether you’re interested in curing diseases, advancing our understanding of how the world works, seeing who can build the fastest computer, or earning cryptocurrency. "
as you can see at here https://foldingathome.org/2019/01/14/foldinghome-policy-on-cryptocurrencies/?lng=en-US

BANANO is one of crypto that work with folding@home https://cryptomining-blog.com/11570-earn-banano-ban-while-foldinghome-to-help-coronavirus-covid-19-fight/
Curecoin and so on and I hope crypto that helps real word pharma keep pop-up

[Bttzed03]

~ A trillion dollar industry was not incentivised to put money into a cure - yet one doctor could do it. How does Bitcoin solve this incentive? Or can it?

We have to be reasonable here. Let's just say capitalism, in general, is something that's out of crypto/bitcoin's reach. If you're hoping some wealthy bitcoiners starts pouring some money into research and development for diabetes or other 'incurable' diseases, I doubt they'll do it. They know Pharma is a big bloody business.

[pooya87]

A lone doctor recently came up with a stem cell cure

There is no doubt that the pharmaceutical industry has turned into a dirty business that feeds on people being sick, they sometimes even create the sicknesses but that doesn't mean everything you hear about alternative methods are true. For example in this case how do you even know that this doctor has found a "cure" and how do you even know that it works?

How can bitcoin help?
Bitcoin can always be used as a global fund raising currency. It has already been used for many charitable things like helping Ukraine war-struck people. But they first have to prove honesty, it's not like people are going to hand over their money to anyone that makes random claims.

[spectre71]

bitcoin cant fix the pharma maybe they can only fix it with the data that can be stored through blockchain, but I hear that some of cryptocurrency work with the folidng@home to cure cancer although the folding@home itself although "Folding@home does not endorse any cryptocurrencies at this time but we are happy to engage with participants with a wide variety of motivations. Whether you’re interested in curing diseases, advancing our understanding of how the world works, seeing who can build the fastest computer, or earning cryptocurrency. "
as you can see at here https://foldingathome.org/2019/01/14/foldinghome-policy-on-cryptocurrencies/?lng=en-US

BANANO is one of crypto that work with folding@home https://cryptomining-blog.com/11570-earn-banano-ban-while-foldinghome-to-help-coronavirus-covid-19-fight/
Curecoin and so on and I hope crypto that helps real word pharma keep pop-up

Man, I was messing with folding at home like 20 years ago. I ran it on my Beowulf cluster machine. Run around after work bootp'n work PC to creat a bigger one.

I'll go check that out. Thanks for the old school memories, back when tech was exciting

[spectre71]

Right from the Mayo Clinics website hoss.


"Even after a lot of research, type 1 diabetes has no cure."

https://www.mayoclinic.org/diseases-conditions/type-1-diabetes/symptoms-causes/syc-20353011

[mindrust]

You are clearly confused. Bitcoin has nothing to do with this stuff. It is only sound money. Bitcoin won’t cure cancer or diabetes. Diabetes itself is a gray area though. Just like how you said, the doctors/scientists/big pharma just seem to not cure this disease because it is pretty damn profitable not to do so. Diabetes drugs cost very high and it is one of the main income of big pharma.

[davis196]

Was talking with my gf who has diabetes type 1. The main reason it hasn't been cured is because maintenance drugs make more money than cures. A lone doctor recently came up with a stem cell cure, but it will take a long time to come to market. A trillion dollar industry was not incentivised to put money into a cure - yet one doctor could do it. How does Bitcoin solve this incentive? Or can it?

Bitcoin cannot "fix everything". Who the hell told you that?
The current patent system has to be replaced by a rewards system, so the inventors get paid a big prize by the government, when they invent something new(of course their invention has to be really useful for the human kind).
The patent system makes all new inventions more expensive, because the inventors get paid royalties for every product that has been sold.
This is one of the reasons why newly invented remedies are so expensive. The other reason is big pharma companies investing millions of dollars in research and testing. How do you think that Bitcoin(or the BTC blockchain) can solve a problem like this?
Viewing Bitcoin as a panacea to every problem has always been really annoying to me.

[Poker Player]

I had seen people biased on this forum regarding Bitcoin, which is normal in a Bitcoin forum but saying that Bitcoin fixes everything reaches a lunatic point. What the OP comments is a case similar to cholesterol, where the levels for you to be prescribed statins have been lowered.

It seems, as has been commented, that it is more economically in the interest of pharmaceutical companies to have chronic patients than to cure them. But I do not rule out some solution from the private sector for this, such as Mark Cuban's project to make drugs cheaper in the USA:

From Shark Tank to Pharmaceuticals: Billionaire Mark Cuban Makes a Leap for Affordable Medicines

[aoluain]

~ A trillion dollar industry was not incentivised to put money into a cure - yet one doctor could do it. How does Bitcoin solve this incentive? Or can it?

We have to be reasonable here. Let's just say capitalism, in general, is something that's out of crypto/bitcoin's reach. If you're hoping some wealthy bitcoiners starts pouring some money into research and development for diabetes or other 'incurable' diseases, I doubt they'll do it. They know Pharma is a big bloody business.

I think this answers the OP's question more accurately, along with pooya87's.
Of course Bitcoin cannot solve problems its just code but its people who solve
problems and especially people with the finances and will to do so.

Everyone knows what Bitcoin was designed for but everyone knows too
that there is a speculative nature to it too. We all believe to some degree or another
that Bitcoin is going to go up.

So the OP is essentially asking that if Bitcoin does what everyone expects will it
to will it facilitate someone to fund this doctors claims?

[avikz]

Was talking with my gf who has diabetes type 1. The main reason it hasn't been cured is because maintenance drugs make more money than cures. A lone doctor recently came up with a stem cell cure, but it will take a long time to come to market. A trillion dollar industry was not incentivised to put money into a cure - yet one doctor could do it. How does Bitcoin solve this incentive? Or can it?

How will bitcoin fix it? I see no way for bitcoin to fix this situation. It's not even related to finance or financial inclusion whatsoever. I don't see how bitcoin can jump into it and fix the issue to be honest.

Btw, this kind of cures are very dangerous for the doctor who have invented it. He can be murdered at any time and his notes can be stolen and destroyed. Pharmaceutical companies are nothing less than a mafia. Same goes for oil companies.

[hd49728]

Bitcoin can not fix everything on Earth. If someone told you so, it is a narrative and it is not true.

You can not believe that it will happen if you know the basic that do not trust anything that too good to be true. So fixing everything is too good to be true.

Bitcoin can be a mean to use in many areas including Pharma as a mean of money transfer, of payment for business trades if both seller and buyer accept Bitcoin. However, Bitcoin and blockchain technology can not fix drawbacks in Pharma industry. It only can be used in all industries on Earth as part of their process but not be able fix it.

[so98nn]

Its not up to bitcoin or USD or that doctor, this is all about from where the funding is coming for the research and development of that particular treatment. Most of the pharma companies will have their fundings from share holders, private investors and some government subsidies.

Im pretty sure this has got nothing to do with bitcoin.

Bitcoin is just one of the currency form / asset with value.

For that instance, its upto those investors whether they are willing to invest in the form of crypto or just fiat.

[stompix]

A lone doctor recently came up with a stem cell cure, but it will take a long time to come to market. A trillion dollar industry was not incentivised to put money into a cure - yet one doctor could do it.

Let's start with the first row of bs.

There is no lone doctor in his home laboratory doing research on stem cells, the one doing the research was Viacyte, it received millions after millions in funding, contrary to your belief. Vertex is going to buy it for 320 million dollars, now if that is not enough money put into research for a single drug, god knows what it is, and we're talking about things that have shown results, not the millions thrown with no results. If somebody has this image of a doctor in his office swapping potions from vial tube to tube and watching them in bright light as it becomes medicine then just go away.

How does Bitcoin solve this incentive?

Ask Satoshi!

I had seen people biased on this forum regarding Bitcoin, which is normal in a Bitcoin forum but saying that Bitcoin fixes everything reaches a lunatic point.

Just the other day I saw a topic on how we're going to deal with the imminent outcome of Salvador heaving more wealth than the US and China combined, you know because of what. But yeah, that's what cultists say, Bitcoin will somehow fix everything, from the environment to poverty to healthcare to war to god knows what, well it might even fix God himself!