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RE: Bitcoin dropping? Here is the good news! (incl. the final answer to the question, when it will stop!)

in #bitcoin7 years ago

I think the exchange from one monopoly currency to another is just the same game in the new cloak.

Every monopoly currency carries the risk of the market collapsing because a butterfly is moving its wings somewhere else.

I think it would be good if there is diversity and perhaps that is what SMT means. Each user represents his own currency, such as the "ERH" in my case.

When the day comes when I can purchase your services with "ERH" and you can purchase mine with your "ATMOS", we have the smartest system.

Or just call it "X" and it stands for all the transactions you can do in your life. I believe that hedging via matter, such as gold or silver, is completely obsolete. The only material security is the people themselves and not any metal.

The planet cannot surrender as much metal or physical materiality as there is currency in circulation. As I have read, we would need three planets or so to transform the equivalent into physical matter. So we're way past that.

In principle, the world I live in doesn't need to. We all have a warm home, energy, and ideas for living together. Instead of continuing to delude oneself into the illusion that you need a yacht, a Caribbean island and fans who envy you to live well, the currency could help pay for it in the real world. On the way there, it might turn out that this kind of wealth is actually not so attractive at all and that the encounters with people and the exchange of experiences is much more refreshing.

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Thank you for this awesome point of view! Yes, this is a vision I can totally relate to.
The only thing is, that this vision of true decentralization (something that is supported by visionaries like Dan Larimer) is not yet a reality. People still need some marker or point of reference to compare value to.
In the end this is a matter of evolving our consciousness as a human species and the most radical transformation there is. I support that, but also see that it will take quite some time to make this a reality and we will still need alternative systems in place in this transition phase.