Discussion
Bitcoin instantiates the foundation of a new system of Law with, simply, “thou can’t steal”. When theft is removed from economic calculation, production becomes more efficient. More production, more wealth. More wealth, more prosperity. More prosperity, more peace.
Who's producing though? Not every individual fills that role now, which is something that has nothing to do with economic reasons. Is the wealth still accumulating on a Pareto distribution? This is the most plausible scenario. If so, who prospers exactly? A different hyper-minority, or the same one s? What really makes that a different outcome?
These are the questions I'm wrestling with. A medium of exchange inherits value from the confidence placed in it. If all of the same circumstances exist, even if the specific problems are different... I just don't see any reason to change from one broken system to another broken one.
Just thinking out loud.