Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
rocks
on 03/12/2014, 01:16:49 UTC
there are huge advantages and efficiencies to developing a one world currency that is apolitical and controlled by the will of the majority of ppl.  we can't imagine it from a digital standpoint except in the context of physical gold which actually worked pretty well for centuries.

Both the advantages of and also the problem in getting to a one world currency are stated in your first sentence. "controlled by the will of the majority of ppl" is the problem in that getting agreement by the majority of people is not an easy or even possible task.

A problem for sound money is gaining agreement on what construct to use as the basis for sound money. Gold bugs believe "# of atoms of gold" should be used and many will hold on tight to that belief, but why not other rare metals such as platinum or palladium? Many others (probably a majority today) believe flexible supply controlled by the government is best. Probably all of us here believe "# of BTC on the Bitcoin ledger" should be used, but why not other ledgers?

What if the FED created a FEDcoin with all of the programmable money benefits we love combined with centralized control? It is possible a majority of people would gravitate to that. Would many of us here join FEDcoin or keep fighting? The will of the majority is not always right or best and gaining a super majority agreement is unbelievably difficult given the numerous diverse views all 7 billion of us have.