Bitcoin is more than just frictionless payments and finance. It's a complete restructuring of the world and the elimination of many inefficiencies that held people back. The removal of those inefficiencies isn't just going to make sending money cheaper and some online goods available at a discount. It will enable whole new industries like the Internet has, but it goes far beyond even that. It fundamentally, radically decentralizes power. It blows away most of the borders that kept people from participating in the international division of labor. It thwarts all kind of oppression, especially economic oppression.
It is "rat poison," as Charlie Munger inadvertently said, or as Chamath Palihapitiya called it, "schmuck insurance." Power to the people. Truly free markets, everywhere. Think China during Mao's reign versus now. That's the kind of change that's coming. Even for people who never invest in this bull market.
Enjoying your bullishness, which is quite clearly rooted in a deep understanding of the broad picture of what is happening.
And thanks for sharing so much quality material. That kind of quality is deserving of its own thread - it will just be buried by memes, random predictions and little flame wars here. Actually now that I think about it I would enjoy another kind of observer thread - not a wall observer thread focused on trading and daily price movements, but a more laid back, philosophical observer of the whole Bitcoin economy focused on longer time frames and broad implications.
Also, praised be the current bearishness of rpietila, I enjoy that perspective as well.
Thanks! There used to be a "fundamentals thread" that was cultivated pretty well, though it was a bit more about short/mid-term price drivers than the long-term aspects. I haven't seen it for a while. I've been trying to create a list of the best philosophical musings or broader analyses of the Bitcoin phenomenon and its repercussions for the world. Things are just changing so fast that it's hard to keep up.