Post
Topic
Board Bitcoin Discussion
Re: Why Do People Believe Bitcoin Will Replace Fiat?
by
inBitweTrust
on 27/08/2014, 13:20:52 UTC
I think the people who go around saying Bitcoin will replace all money...
Most anarchists claim that Fiat will continue to coexist along side crypto-currencies at least as long as nation states exist(thousands of years - forever).

that it will end wars, collapse banks and governments,
The argument is Bitcoin can possibly end wars, not end all wars.(Reduce certain types of wars dependent upon funding through debt). Any student of history recognizes nation states collapse on their own quite easily with or without Bitcoin. Bitcoin could accelerate certain nation states imploding as it allows ease of capital flight vs other commodities like gold.


The worst are the people who have some political cause, claim Bitcoin is part of that cause, and try to imply that anyone who uses Bitcoin agrees with them and supports their cause.

Bitcoin is neutral , but at a protocol level has many characteristics which are anarchistic and facilitate anarchism. Bitcoin can be used by individuals and governments of any political ideology. Unfortunately, Bitcoin has properties which also undermine the ways in which certain governments fund themselves and "regulate" their citizens. There are many different ways Bitcoin could have been designed to have all the advantages of a digital and programmable currency without these properties that undermine nation states.

A separate argument is whether it is wise from a tactical approach to discuss Bitcoin's political implications. Personally, I think the argument is moot because Bitcoin has enough value where people will eventually be drawn to adopt it despite it being created by crypto-anarchists with political motivations.