Quote:
Originally Posted by bootsnixon
This is a good point. We are truly blessed to live in a country where outside of a couple of blips we can rely on our government and banking system to provide stability and trust in our currency and economy for 150 years. Here in Canada, a decentralized and finite currency is not particularly needed and possibly even detrimental to a central banks ability to maintain a healthy economy.
Now consider countries that are not as lucky as us. Countries that:
- routinely face yearly inflation in excess of 10%
- do not have a stable government and struggle to control their economy
- do not have their own currency
- do not have a stable trustworthy banking system
- are undemocratic and their government may not have the citizens welfare at their forefront
I think it's possible an increasingly adopted, finite, decentralized currency could be a benefit to these people. When I consider the number of people that fall under these categories in the world, I can see why people are excited about Bitcoin. It is surely in the billions and may even be over half the earth's population.
It's not without it's faults, but Bitcoin is definitely tantalizing. I'm enjoying the discussion!
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these countries all just happily use the US dollar now, their economies function, not as well as ours but they operate, now I could see an argument for a centralised Government controlled crypto coin that the IMF or some other trustworthy body would operate but the answer to corrupt untrustworthy Governments isnt corrupt untrustworthy bit coins whose main function seem to be to provide avenues for 25 year olds to get scammed out of everything in a manner previously restricted to fake roofers ripping off geriatrics
'we were in the area making someone else rich with this bitcoin and we had some left over, I can sell it to you for half the price it would normally go for missus, but you have to decide quick before my boss gets back from vacation'