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> There's no potential scenario where that happens Maybe not in your lifetime. But you’re not practicing long-term thinking here. Global, trustless, decentrali
by eric_cc 4y ago
> There's no potential scenario where that happens
Maybe not in your lifetime. But you’re not practicing long-term thinking here. Global, trustless, decentralized networks allow humanity to fundamentally reorganize. Physical, nation-state borders are ignored by such networks. Cooperation for physical resources still does matter but that may also be lessened by technological leaps in sectors like energy and food production. Humanity, if lucky enough to not be oppressed by ultra powerful governments, will likely render federal/central governments much less important and thus much less powerful. Simply put, the value proposition of central governments is now on the decline.
- nradov 4y agoThere is no potential scenario where that happens even long term. People have to physically live somewhere. Nation states continue to hold a pretty effective monopoly on violence. They can prevent you from entering, or put you in prison, or seize your assets by force. Global, trustless, decentralized networks can't control government security forces with guns. The value proposition of central governments will continue to grow, not in the sense of people actually liking them but simply because there is no alternative. That is reality and no amount of techo-utopian fantasizing will change it.
- lokedhs 4y agoAnd even if it did, it wouldn't be bitcoin. As bitcoin is capped at a maximum number of units, with some being burned by losing access to them, it is per definition is deflationary currency. That would prevent a normal economy from working.