1/ Bitcoin will usher an era of unprecedented peace and prosperity.
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The transition will result in famine, desperation and death for many. What we need is gradual change, let's not be quite so extreme. Fiat as bad as it is has immensely improved the standard of living for the world. Let's not get too carried away, let's aim for gradual change.
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I am a man of reason and not a fanatic. But this is what I see: In the next 10 years the immediate enemy of Bitcoin isn’t USD or EUR. It’s the tail end of shitty 2nd and 3rd world currencies that might collapse. People in those countries storing wealth in that fiat are gonna hurt
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Totally agree, maybe we need bitcoin ambassadors lobbying these countries governments to try and get them to see the light. The problem is the ruling elite are not so affected by inflation, it's the masses that will hurt. The leaders are too corrupt. There's no easy solutions.
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1/ Here is the funny part. Think about 2nd and 3rd order effects of competitive game theory among Central Banks. Incentive for any CB / SWF to announce they bought a nag of crypto is too great, instant global exponential jump up.
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2/ The countries / states / banks themselves will be buying crypto. Their citizens and shareholders will demand it. It is life and death. Those countries who accumulate early will thrive. Those that won’t, will be bankrupt.
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One of those places that won't could easily be my country or yours. A bankrupt country is not a pleasant place to live.
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I live in cyberspace. Natural selection + Markets will figure out who has predicted and picked the ultimately superior form of money. This is an exam for survival.
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I still want my family and friends to survive. I tell everybody to learn and buy I couldn't convince my parents (elder) to buy bitcoin. I will take care of them.
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Then you don't realize what the collapse of the petrodollar will actually mean. The US economy is underwritten by oil sales in dollars, those go away & the demand for the dollar dries up. Foreign investment plummets. Hyperinflation skyrockets. The US loses 2/3 of its wealth.
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Tack on the existing debt and the US's inability to pay on loans & you get the Greek financial collapse but on steroids. Massive austerity cutbacks to social & corporate welfare. Massive tax hikes. Panics. Bank runs. An economic crisis of historic proportions.
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With austerity comes social unrest, which invites gvmt intervention- martial law, whatever it ends up being called. Ppl demand their bread & circuses, but when the dollar dries up, all of that goes away. Ppl riot. Rome burns.
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every time there is a change in world powers, there is major disruption in global, or continental affairs. look at WWI, WWII, all the fighting in Europe in the 19th century, the French/American revolutions, etc. major change happened to economies because of resources and capital.
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/2 when and if Crypto goes mainstream, governments must have some sort of say. we as a people have grown from band, tribe, chiefdom, state for a reason. as Hobbes wrote in Leviathan, the state of nature is a dangerous place. we need the state. it keeps us safe. without it,
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/3 society as a whole will de-evolve. this must be gradual and orderly or else we upset the apple cart of human progress
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Bitcoin is not the cause of the crisis, but the inner stress of a strained system. Bitcoin is what can save as by proposing the alternative.
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Yes, if entitlements crash too fast, too hard, it's high probability of systemic cascade failure. See this:https://medium.com/deep-code/situational-assessment-2015-91222a66c834 …
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