Post
Topic
Board Bitcoin Discussion
Re: Bitcoin's Dystopian Future
by
Adrian-x
on 04/01/2014, 18:19:12 UTC

1. virus <> voluntary
2. fractional reserve is money out of thin air, explain how bitcoin differs
3. just like greece can exit euro, that easy
4. if you follow the story of asic manufacturing you will see what deflation means to a manufacturing process.


1) Bitcoin will most likely always be voluntary. If you volunteer to partake in Bitcoin you transfer wealth to get in, if this accelerates because people benefit it will look similar to a infection, spreading in an unhealthy host.

2) Bitcoin doesn't come out of thin air, they can only be issued. They are only issued to those who agree with the protocol, and then provided work to secure it, Bitcoins are issued as part of the protocol. They are backed by whatever you and I are willing to exchange for them.

3) Bitcoin is voluntary don't like it don't use it. Average citizens don't have that choice with fiat.

4) I don't want to regulate a free market, what I think is good fore everyone is irrelevant, my point is if you save, wealth will erode from the unproductive in society and go to the producers, this is no Dystopian Future. Deflection will help prioritize investment with humanities needs as apposed to what we think we need.