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RE: Is Bitcoin just a quicker path to destruction? Long/medium term destroying angel... Short term possible Saviour... : A Short Thought Exercise
I think that in your view technological progress is somehow evil. However, consumerism - is not technological progress. This is the result of an evil monetary system of fiat currencies controlled by central banks. The current monetary system is designed to be unfair - this what creates inequality. The system needs to grow the currency supply exponentially - this is why it should create debt by over consuming the existing resources at the expense of unborn generations. Bitcoin is the Great Emancipator. For the first time in the hostory of humankind - people are get access to fair money. This system will replace banks by replacing debt issued with an interest that is re-invested again into debt with a self issued credit without interest.
Thank you, it seems like there is some real knowledge to be gained here. However, I'm not sure I completely understand what you saying. Maybe I can offer a question that can help clarify it for me.
Is Bitcoin less, or more, financially valuable than fiat?
Does Bitcoin gain (presently and is it expected to do so in the future) value over time?
My understanding here is that Bitcoin could 'pay off' the existing debt (which is far greater than existing money supplies, or even bitcoins supposed potential market cap in the coming decades). This seems unlikely. So, are you rather suggesting that this new system will ignore the previous debt and start afresh and ignore the previous imaginary debt. I like this idea in one sense. But, as I argued above all these highly imaginary terms like 'debt' have no bearing on the reality that is our living planet. If there is a financial tool that gains interest (or even increases in value) than this financial tool will take precedence over our natural world which fails to create compound value at such rates (at least as our present culture is concerned).
Which was my point... People getting filthy rich off Bitcoin, are just as eager to add to the destruction of the world as those who are filthy rich in fiat. It may be a revolution, but it's merely a revolution so we can be more effective at destroying ourselves. Maybe Bitcoin plays a role in a culture that needs to replace our own, for that I am still unsure and looking for solid answers. However, Bitcoin alone in our present culture will only expedite the problems we are seeing in our natural (the only thing that I believe truly matters) world.