Quote from: ponzinomics reloaded on November 11, 2014, 06:44:57 PM

Quote from: sidhujag on November 11, 2014, 06:11:11 PM

The tech will be disruptive enough...

I provide you a rationale about why I think we need more that succeeding with technology to make a technologically driven society.

I think you are in wrong paradigm. You are assuming that the dispute is between the, say, "elites" and the citizens. This is in my opinion a misunderstanding. Society is composed by 2 kind of people: rational people and emotional people. There are issues in the brain evolution that makes so. Rational people use to be individualist and emotional people use to be collectivist. Collectivist people always will advocate for government protection.

So the actual paradigm is not elites vs citizens but individualism vs collectivism. The fact is, if you look around in any society the number of collectivists is always higher than the number of individualists. Women are collectivists and counts half of population, gays, as emotional people, use to be also collectivists and are 10% of population. Lots of men are also collectivists. So, at the final, individualist people is a minority.

What this means? This means that, (in democracy) you always will have government.

The point is, how can individualist people protect themselves from the threat of collectivist people through the government? With the monetary architecture: by having a national currency being equal to the governments currency or having a national currency coupled to gold. In the USA, you enjoyed gold standard from 1944 to 1971 and was the period of higher progress on (recent?) history.

This chart represents the velocity of money in the USA:

Look how the velocity grown from 1944 to about 1980, a few years after quitting gold standard (1971) by inertia. After 1980, just a couple of more bubbles (2000 and 2008) and finally the 2008 collapse at level of Great Recession. I think velocity of money is a good representation of real economy (no financial economy).

So, in my opinion, individualist people needs a national currency backed on gold, to get protected against governments, representing the collectivist people, and under this umbrella, THEN you will have the crypto-driven society. Otherwise governments will be able to use their power to devaluate purchasing power of any other currency (you can read Hayek for it, I think chapter 9. 'Security and Freedom' of 'Road to Serfdom' would give you an idea).

Open to debate.

This is all bs.. velocity of money is the only key driver yes i agree but the way u jumped to conclusions no... gold standard went off cause velocity could not keep up effectively. Bitcoin and cryptos dont have that problem with cost of hw decreasing and network speeds increasing faster than the network affect.