HedgeWizard Posted March 27, 2016 Posted March 27, 2016 I am concerned as are other anarchists for the current direction of Bitcoin. In my opinion bitcoin has been under the mindset of mainstream adoption at all costs. This is not to say I support core over classic or unlimited as core has its own agents working towards these goals, and I would like to leave the opinions on these flavors of bitcoin out of this discussion as they will inevitably become technical discussions. I would like to rally support for opensource projects such as darkwallet and openbazaar in attempt to reclaim bitcoin. Projects that support the users specifically and not on ramps for banking and financial institutions to integrate into their legacy service. I would also like to see Stefan talk with someone on the show as it reaches more people than this thread might. The fight for bitcoin is ongoing. The white lists cometh
Boss Posted March 27, 2016 Posted March 27, 2016 Well I believe that 47 individuals own 28.9% and 927 individuals own 50% of bitcoins.http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12Also I believe you need a internet connection to send bitcoin. I have bitcoins, but those are the dilemmas I believe BTC is currently fighting.
HedgeWizard Posted March 27, 2016 Author Posted March 27, 2016 Well centralization of wealth is not so much an issue in my opinion when it comes to a deflationary currency. Consider that as price appreciates people are more inclined to spend their bitcoin and even the largest savers will be incentivized to release their coins back into the system, it is a fact that their holding large sums increases this deflationary pressure by taking coins off the market. Secondly although there are many elements of those people being speculators which in itself is not bad as a free market price discovery mechanism those people are savers and have the right to save as much money as they see fit. As far as an internet connection being an issue, having traveled to many 3rd world countries I myself have seen the rapid adoption of mobile devices versus desktop computing which means it is less necessary, increasingly so, that people absolutely need to own their own internet connection. There are smartphones in india for as low as 20 dollars. Though they are government subsidized and still relatively expensive to a large number of people, I am confident the price barriers will lower as time goes on. Of course as a merchant accepting bitcoin you likely need a connection during working hours to be secure in accepting your payments. On the other hand look at initiatives such as Satoricoin (satoricoin.jp) where they are specializing in low denomination bitcoin hardwallets in the form of poker chip like coins. I think it is very important to bring a valid form of bitcoin into the tangible world. I think the dilemmas you suggest are again "mass user adoption" dilemmas and not the most crucial in regards to making sure bitcoin is a unfettered currency and an even playing ground for all participants
Recommended Posts