Post
Topic
Board Bitcoin Discussion
Re: Public Relations
by
goatpig
on 19/05/2011, 15:55:47 UTC
I think the real question is whether or not bitcoin will appeal to the majority of people who are happy with our current financial system. If it doesn't, bitcoin may fade away or end up as a niche currency used for a tiny percentage of global financial transactions.

2 points towards that:

1) Even though people are culturally attached to strong governments, they are also culturally repulsed by the financial world in general, particularly by banks and bankers. I think one of the strongest sales pitch of Bitcoins to the masses is that it allows them to completely bypass banks. It doesn't matter how hard people are attached to the government and the currency it issues, this aspect of Bitcoin will sway them, because the populace instinctively knows their hero, the government, will never do a thing about the banks.

2) Tax evasion. Countries with high taxes also know a high level of tax haters and wannabe evaders. I am thinking about Western European countries. A tax inspector in France is akin to a rapist in people's heart. A more critical example is Greece, where tax evasion is almost a national sport. It is estimated over 60% of the Greeks evade taxes, and the government, under the pressure of the IMF and the EU, is starting a witch hunt. I think these people, even though they might not understand the full set of Bitcoin advantages, have a strong incentive to join it too.