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I think he predicted the opposite of what Bitcoin is now. Bucky thought a globally stabilized energy grid, along with computer facilitated time-energy accountin
by decasteve 5y ago
I think he predicted the opposite of what Bitcoin is now. Bucky thought a globally stabilized energy grid, along with computer facilitated time-energy accounting, would lead to a measure of "real" wealth and value of exchange. Bitcoin's value acts more like gold rather than a measure of exchange tied to the time-energy it takes for a "cow to convert grass into milk".
The idea that a world-connected electricity grid via ultra-high-voltage interconnections would lead to a different value of currency and wealth, one that would be more equitable in terms of energy is a nice idea and maybe it would pan out that way. I think a world grid would help solar and wind provide a bigger share of the load.
Under the right conditions maybe this is possible but for me it's harder to see now than when I first read Critical Path. I'm a little more pessimistic these days but I'm still a huge Bucky fan.