While without creating any independent value, such as gold used to be, or oil was, the value in bitcoin as well inherits fiats flaws, and dependency on people for the value to be created, since that constitutes as work, which in turn, doesn’t really constitute as raw independent value when there are ifs and buts in the equation.
Discussion
In my opinion, the USD you see on the screen is backed by a treasury, gold, or bitcoin, it's kinda the same thing, it's just an abstract metric people have attached themselves to because they use it so much to judge how much time it would cost to acquire goods and services.
To try and break that network effect and inertia takes time. In my country we switched from the British Pound to South African Rand, today people don't even think about it, many don't even know it, but to my grandparents generation, it was a massive transition that changed a lot of things for them.
I just see it as that but on a global stage and everyone will go at their own pace while others will die denying the change
If I’d identify the problem, I’d say consumer driven economics where we are producing for more consumption instead of quality and need is the problem as no considerable value is created, but the transaction of consumerism. We lack fundamental productivity of value, but are forced to consume to keep the wheels turning, which demands war catalyst when consumption becomes scarce.
Be it dollar, or buy bitcoin.
Absolutely, how can you measure productivity in something you can expand and contract, then you can always create padding around it through accounting and creating, reducing, or locking up certain currency claims through arbitrary rules
In the end its all about how much of my and your time/productivity/savings we commit to the network that they can extract that matters, we are the liquidty
Yet when able to revenue intelligence from time as #mainvolume’s binary intelligence technology makes possible, an independent value is not only created, but as well consumed for the value to be created which solves all the problems the gold standard economies have without conflicting with the foundation of economics, and considering that our time is limited by Mother Nature, a natural scarcity is by design.
It’s not a replacement, but a solution to those terminal dynamic flaws causing crashes.
Consumerism forces us to work for the system, while the system is capable to work for people.
It’s the control and hunger for power, fueled by greed that’s driving consumerism and management by fear. But for that to happen, we must first understand how the system is built and meant to work in order to serve life, and people.
Perhaps futile to expect greed and hunger for power to widen up, so we have become enslaved to it.
