Quote from: Kazimir on June 12, 2012, 12:11:58 PM

Quote from: Ineedbtc on June 11, 2012, 11:41:43 PM

I don't think it can Tongue

Why not?

Because Bitcoin "lacks" something, compared to dollars, euros, or gold?
Or because the general public will never pick this up?
Or because banks and governments will try and suppress it (in favor of their own currency system, which they control and benefit from) ?

Having received some answers here https://bitcointalk.org/index.php?topic=84932.msg937152#msg937152 , I still support the development of bitcoin but it DOES not have the potential to be THE NEW honest money system OF THE PEOPLE.

The problem is bitcoin seems to be tied too deeply with the current model and seems like at the end it will simply make existing bankers maintain status quo while making some early Bitcoin adopters richer in the process.

It is a great way to have the community publicize the Bitcoin currency by giving participants parts of the currency through the mathematical system ( which I don't full understand ) and frankly off top of my head I don't see other way.

However this method of politicization favors those who engaged early and therefore is more likely to result in an exchange system within a certain community. However this community seems like will be a subset of the current monetary system. It will operate within its tentacles.

It is evident that it benefits early adopters and this gives bias to a small group of people. That similarity with the existing money system is what makes Bitcoin just another currency in the current system. A currency mostly addressing the benefit of its early adopters rather than the benefits of the actual value creator at particular time and space. This is a huge similarity with current model and benefits a small group. For that reason I now look at Bitcoin more like another currency in the baksters's world rather than the "real liberal currency" which unfortunately bitcoin is not.

An issue is that bitcoin is being traded for USD meaning that at any time the banksters see Bitcoin has gotten stonger they can simply buy out a large share of Bitcoin and that way getting control of the currency effectively diminishing its liberty prospects. In fact banksters may have done that already.

In fact banksters ( investors , people with currency ) may be partially behind Bitcoin and probably are.

It is also 100 % certain that provided Bitcoin success down the road those with Bitcoins will eagerly trade bitcoins to the banksters getting rich in USD and becoming part of the existing power system. So all bitcoin participants participate for personal gain ... which is fine. But an honest alternative would have a common good element that goes to others.

The problem my friends is that banksters enforce the current money system through force: guns , police, jails. Any system that is so similar to the existing model is bound to integrate in it later on because that would be the clever choice for people ... compared to going to jail or worse.

These are the reasons I now believe Bitcoin is not that "absolute honest alternative" that I thought it was and I think its potential is to eventually integrate with the existing model making banksters richer and bitcoin adopters richer as well. But maintaining the status quo for the rest of people.

So it is business as usual for humanity.

In the mean time I will keep looking for that honest alternative but now I suspect such may not exist at the moment. And maybe will not exist any time soon. Every social structure people have ever created, few at the top have always concentrated the power, perhaps that is just being human and looking for a "honest alternative" is just stupid. Personal survival and personal being is at the top of the moral value system of all of us and other's wellbeing goes down down the list.

Like I said I welcome bitcoin , will use it, and come back from time to time to see what is new ... but to humanity it is "business as usual"

add me in facebook: facefixxi and fixxi.net

Later

PS: SORRY for all the typos ...