Post
Topic
Board Bitcoin Discussion
Re: The SEC Shows Why Bitcoin is Doomed.
by
justusranvier
on 03/01/2014, 13:46:15 UTC
That concept "the rest of the world will save us" really doesn't seem to be working anymore. I think it's not working because most of the worlds governments/regulatory systems are as dysfunctional as the US system.
You've got it wrong: the rest of the world will save themselves, and Bitcoin is going to help them do it.

The dysfunction of other world governments is an advantage here. Outside the G7 governments aren't nearly as capable of maintaining the illusion of benevolence.

People in Latin America, Asia, and Africa are very comfortable operating in the informal economy and there's no particular stigma toward doing it. In fact, most of the world's population operates in the informal economy as a matter of survival. Outside certain pampered population in Europe and North America, you won't find people declaring that Bitcoin has to shed its black market enabling properties in order to reach mainstream adoption - those will be its primary selling points for the other six billion people in the world.