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I do not know about ideology but there is definately a political angle to all of this. Bitcoin is only worth anything as long as people are willing to give thin
by hristov 13y ago
I do not know about ideology but there is definately a political angle to all of this. Bitcoin is only worth anything as long as people are willing to give things or services of value in exchange of bitcoins. For now people have because bitcoin has generated a lot of excitement and there have been relatively few bitcoins available for purchase.
But if one of the early adopters busts out a billion dollars worth of bitcoins and demands massive amounts of real world wealth in exchange, people may just decide he does not deserve it and stop buying bitcoins. Then the bitcoin will be worth nothing again.
- gnerd 13y agoNobody deserves a billion dollars and if someone was to become a billionaire I feel it is more likely the people holding BitCoin would be more concerned with their own value appreciation than all cooperating to devalue a single entities value. You also have to consider that wide adoption of BTC would mean a diverse set of people with a diverse set of values. I've often read that in the US (as an example, but I'm sure it applies elsewhere) poorer people are likely to vote against their best interest because they have a belief that one day they will be rich. That sort of scenario makes more sense to me, people will just worry about themselves than burning their own value for some collective 'good'.
- dantheman 13y agoIt's only considered voting against your own interest when a poor person does it. When a relatively well off person is campaigning for higher taxes, voting against their won interest, then it's a principled stand.
- girvo 13y agoI had never looked at it from that angle before. Interesting.