Quote from: Hawker on April 26, 2013, 01:53:08 PM

Quote from: Spendulus on April 26, 2013, 12:14:40 PM

Quote from: Rassah on April 26, 2013, 02:00:35 AM

Quote from: myrkul on April 25, 2013, 09:21:22 PM

Quote from: Digicoiner on April 25, 2013, 09:17:56 PM

Will bitcoin become "the motor of the world"? Wink

Heh, no.

But it might become that static motor John came up with before he disappeared.

I still prefer to think of Bitcoin as Galt's Gulch, which we can easily disappear into if we wanted to "exit" the economy.

A rather interesting idea with implications. Consider the case of some country under severe economic duress and facing near term collapse. The ready and fluid availability of an alternative and substitute currency places a limit on the extent to which that government can impoverish it's subjects.

That's a game changer.

Its not really. Most people don't have cash - they have assets like houses, farms and businesses. A country under server economic duress will always have the option of taxing those assets.

But worst come to worst, people who own those assets can sell them and convert the proceeds to bitcoin, too. Then if things get too bad, perhaps they can emigrate elsewhere.