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Author Topic: How can Bitcoin be used to promote ethnic diversity?  (Read 3911 times)
Jaime Frontero
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May 13, 2011, 03:31:41 PM
 #41

how does one save, without income?
Income isn't something handed to people by fiat. Income is something people get by working. And even in poor countries there are some jobs that you can do which don't require capital.

So you could work even harder than you otherwise would have to, and live even more frugally than you otherwise would have to, and save the difference as bitcoins. Providing for a better future.

I'm not saying it's easy. Just that it's desirable, and for many people is possible.

agreed.

but it is also possible to earn more - and save more thereby - with one's own business; and the higher income implied by that.

and i don't make any money from somebody in the third world gluing sneakers together for nike.  i do if they owe me interest... and are capable of paying it.
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May 13, 2011, 10:44:03 PM
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A universal currency, particularly one that is easy to transfer between nations, will do much to level the playing field of economic disparity. Much of it has been maintained by vested interests who manage national currencies. Just think you easily see how much it really costs to glue those Nike shoes together in any country in the world.

Comparative advantage will kick in with an unimaginable viciousness.
http://en.wikipedia.org/wiki/Comparative_advantage

It also raises interesting questions about where on earth all the bitcoin reserves will pile up over time, like the current situation with T-bonds in China.

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