You are viewing a single comment's thread from:

RE: Are You Committing This Crypto Investing Sin?

in #bitcoin7 years ago (edited)

Hi @popanz, those are some nice points.

Its quite fair to say Bitcoin has no value like a dollar bill has no specific value. Society has used many things as currency, from salt to coffee beans. Currency is the reward for working in a human society and helping it develop.
I tend to think in utopias sometimes and then realize they aren't possible. But if they were, the most valuable coin, to be honest, would simply be...one... the one that's the cheapest to "print", that doens't cause the problems current fiat does, the safest, the fastest.
In this digital age, that currency could be a crypto currency.

We as humans should try to make wealth as much dependant of work and progress to society and cryptos are good candidates for this end.

As for adopting them? I'm very sceptical, not because I dont believe in cryptos and good will of people behind some, but because the current society not only would take a long time to accept a different currency than they used for centuries, but because I believe greed and corruption from centralized instutions would do absolutely anything to stop this from happening. If Bitcoin or any currency eventually becomes standard, then what happens to current banks? To national debts? It'd be interesting to see a scenario where a country would actually adopt Bitcoin as the currency and suddently their fiat debt would be absolutely tiny, because the bitcoin value in fiat would be astronomical.
I'm no economist or expert in finances, just a masters degree student in business, but I like to think about these kind of scenarios.