Wow i don't think you guys will like what i have to say on the subject. I know at times i seem to be anti crypto i'm not. I have a big belief in blockchain tech but i think Mark is like 90% right on this.
I think part of the problem is we are always setting bitcoin up as a doomsday scenario. The reason i say this is because really the bitcoin narrative is generally expressed here as a anti government narrative. Now what's the problem with this idea?
Well first off we need some type of government. No matter what happens we'll always have some form of government good or bad. Even along the crypto networks you have it now. You have it on Hive and Leo now. You have a rich plutocratic class who influences all your means of decisions. So Bitcoin is a network that works along the same lines.
So we gotta have some form of government. The bitcoin narrative has been condensed to about two things. First being don't trust the government you're part of. Next being the government you're part of will fail and it will be horrible.
Now here's why i kinda disagree with you and more with Mark in this scenario. When gold comes up yes they go well without electricity and the internet which is probably what the system will look like without a properly functioning government or imploding one. The infrastructure will no doubt be breaking down. Things not maintained until i guess everything goes off.
The only issue with that line of thinking is that we have a recorded history of gold being used pre internet.. pre electricity pre anything like we have today. Society functioned .. empires thrived and people lived well in the understanding of what living well was for some to a degree. So society did carry on.
The issue is that such a society my belief is would produce less intelligent people. Less educated people they'd probably lose eventually knowlegdge and information. People would get dumber. No internet to relay education and info at high speeds. No global communication network we're losing iq's now.
So why does this work for gold. Well some maybe dont remember or maybe don't know this. Gold's market was driven long and thrived long based on religion. Based on the gods and their requirement to eat and drink gold and sip of ambrosia. So basically gold drove away demons.. gold never blemished so it was good for clothing and jewelry and whereas this may not sound significant now. For a primitive society it was. In an apocalyptic scenario we'd go right back to that.
Religion and belief would probably become very important in such a society once again. So you'd have a valuable commodity even in such a scenario more than likely. Bitcoin is problematic in its nature as it is replicable. it's a horrible currency and its no reason to believe its even the most efficient or optimal store of value with the exception its a toy of wallstreet now. What if they change their minds and discover something better in teh future. We can replicate this tech means you're depending on market and brand effect. I"m not a gold bug i'm just a student.. a teacher and a person who tries to think of things balanced and in a practical sense. However, that in comparison to a commodity with a long history and view into human psychology makes me feel there is no reason that humans want go back to that psychology or market behavior giving the circumstances. I think using a metal to repel demons, please the gods lol.. and present as a gift to your wife.. may be more solid than if a digital asset can stand the test of time in an emergence of technology that is ever changing .. ever getting better and we're hoping something that's been around a decade can emulate somethign that was created billions of years ago at the dawn of creation.
I think the focus on bitcoin should be more about the use of the network and the people in it. Like even if i look at somethign like facebook worth like $700 trillion. It's clear the real value of facebook lies in the massive network itself of like 2.5 billion users. I think that should be more bitcoins' focus than the philosophical ideas about what its value really is. We may never know that answer. However if a network is useful to people i can know what that looks like. An unfortunately something just sitting there talking about its rare and deflationary and scarce isn't completely enough to say a network is going to be useful to a significant amount of people.
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