Post
Topic
Board Economics
Re: Is Bitcoin for “Fake Rich”?
by
Ucy
on 15/12/2020, 09:43:38 UTC
.

YOU LITERALLY OWN A PIECE OF CODE, BUT YOU ARE BILLIONARE PERIOD

What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.

While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?

A piece of code that's is used to represent value, same as paper. You can even use plastic, ember, stones etc as money. What matter is the value it represents and whether the material can't be counterfeited, It's fraud-proof, will last long and can really work well as money

I think Bitcoin could be built in such a way that the full ledger can be printed and used completely offline. You'd will need to replicate the online Decentralization Model (or a better model) and features/principles on a physical level and have People with full Physical Ledgers (more like full nodes) verify transactions of participants in their communities.