Blowing off some steam here, but really, there is a shift in this crypto space that I've been noticing. I'm afraid it's becoming a "boiling frog" scenario and before it gets to that point someone needs to vocalize the tragic irony.
The price discovery mechanism of the entire market fails ever since BitFinEx bought cryptocurrencies with USDT that it created far above the real demand.
I hope that there will some day be an investigation.
Schnorr signatures and also lightning, merkle proofs, will help bitcoin become more anonymous, will be exciting when i can just switch between the level of privacy I want for my transactions.
Some of what you say is correct but lot of it is not. First of all no banks or no government purposefully create a failed system. You touched upon a lot of structural changes to American and infact world economy. Hard to explain this in few words,
Technology innovation (anything improving people's life and not necessarily "Information Technology" happens in a place where you could get educated ,free wheeling people who can collaborate. This in 20th century and so far have been America. The economy boomed and a basic quality of life was achieved (progress). The next step for economy to continue generate the income and job to support the exiting population and any future projections. So the only way it could be done is by copying/selling this technology to other parts of the world and it happened and thats why manufacturing left this country but doing so it impacted "quality of life" for many people at the expense of the top who become more richer.
The next step really was more productivity improvement through IT and Automation and AI and is happening since 1995. This is similar to manufacturing where it will create far less jobs than the economy needs but create far more wealth to fewer people. The 2008 economic crisis is offshoot of the same where share holder wealth was trying to be created via financial engineering, it failed. As far as government bail out, pls remember if they haven't done so we would still be in recession and far more people would have lost jobs
Every crisis brings a new opportunity and bitcoin especially the block chain technology is doing the same. But the " economic system promised by bitcoin cannot happen" Since its an utopian view to have such a system in place unless there is one country and world is border less" .Until that happens its better to work with regulators of each region to provide a system thats functional and slowly migrate to a seamless and border-less world(hope) ..
One thing we cannot under estimate is human stupidity .. we are faced with a future that faces existential crisis due to climate change, AI /automation induced job losses and economic crisis and which would trigger wars/nuclear fallout and as such. One thing history has taught us is humans will find a way to figure this out...
The reason there is a cultural change in the crypto sphere is because it is no longer dominated by edgy anti-establishment libertarians like it used to be from ~2011-2016. Bitcoin's price rise and notoriety means it has attracted lots of anti-freedom, government-loving people as well who were more interested in flipping ICOs to make a million rather than changing the world for the better.
Since bitcoin has been created we have yet to see a recession. I think the next major move may not be until the next recesssion when the everything bubble burst.
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The price discovery mechanism of the entire market fails ever since BitFinEx bought cryptocurrencies with USDT that it created far above the real demand.
I hope that there will some day be an investigation.
https://steemit.com/cryptocurrency/@fortified/re-fortified-brock-pierce-or-is-billionaire-bitcoin-board-member-founder-of-tether-and-alleged-pedophile-a-covert-cia-asset-20180118t181617300z
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BlockStream, bankers and governments didn’t jump into bitcoin to help it grow but to destroy it.
That’s why you “HAVE TO THINK OUTSIDE BITCOIN” 😎
Schnorr signatures and also lightning, merkle proofs, will help bitcoin become more anonymous, will be exciting when i can just switch between the level of privacy I want for my transactions.
Dead right!
What's more important, money or principles? I addressed that matter in more detail here: https://steemit.com/cryptocurrency/@bitbrain/regulation-is-good-for-decentralisation We should be playing the long-term game, get RID of the banks, even if it means that crypto doesn't Moon in the short-term.
But don't despair too much about crypto, it's doing okay right now: https://steemit.com/cryptocurrency/@bitbrain/this-is-fine
Thanks for another good video.
Some of what you say is correct but lot of it is not. First of all no banks or no government purposefully create a failed system. You touched upon a lot of structural changes to American and infact world economy. Hard to explain this in few words,
Technology innovation (anything improving people's life and not necessarily "Information Technology" happens in a place where you could get educated ,free wheeling people who can collaborate. This in 20th century and so far have been America. The economy boomed and a basic quality of life was achieved (progress). The next step for economy to continue generate the income and job to support the exiting population and any future projections. So the only way it could be done is by copying/selling this technology to other parts of the world and it happened and thats why manufacturing left this country but doing so it impacted "quality of life" for many people at the expense of the top who become more richer.
The next step really was more productivity improvement through IT and Automation and AI and is happening since 1995. This is similar to manufacturing where it will create far less jobs than the economy needs but create far more wealth to fewer people. The 2008 economic crisis is offshoot of the same where share holder wealth was trying to be created via financial engineering, it failed. As far as government bail out, pls remember if they haven't done so we would still be in recession and far more people would have lost jobs
Every crisis brings a new opportunity and bitcoin especially the block chain technology is doing the same. But the " economic system promised by bitcoin cannot happen" Since its an utopian view to have such a system in place unless there is one country and world is border less" .Until that happens its better to work with regulators of each region to provide a system thats functional and slowly migrate to a seamless and border-less world(hope) ..
One thing we cannot under estimate is human stupidity .. we are faced with a future that faces existential crisis due to climate change, AI /automation induced job losses and economic crisis and which would trigger wars/nuclear fallout and as such. One thing history has taught us is humans will find a way to figure this out...
The reason there is a cultural change in the crypto sphere is because it is no longer dominated by edgy anti-establishment libertarians like it used to be from ~2011-2016. Bitcoin's price rise and notoriety means it has attracted lots of anti-freedom, government-loving people as well who were more interested in flipping ICOs to make a million rather than changing the world for the better.
If that's the case then I hope the price continues to drop. Let's shake them out and invest our time and efforts on proper education.
Since bitcoin has been created we have yet to see a recession. I think the next major move may not be until the next recesssion when the everything bubble burst.
yes i think u r 100% right i have 200$ bitconnect then bitcoin is down my bitconnect value is 2$ i m very sad i like u with follow
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It's a little scary theme for me but I've got your point. Interesting thoughts.
do you think are real analysis?
bitcoin having lot more prediction one prediction is 25000$
tipuvote! :)
do u really think bitcoin will cross 10000$?
It's so much simpler and nicer to go on believing they work for us.
It is great to bring the root how Bitcoin started and keep it decentralized! We need to move forward in the crypto revolution.
You inspire me doing videos of this kind, but with my own identity!
Possible scenario. But it's right - you better blow off some steam instead blow off some steem! ;)
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