I thought this comment on a Zerohedge post was interesting (but he’s rooting for the wrong horse
- It’s limited 21 million in total, 21,000,000.000000000
- The technology to finish the entire set has yet to be invented (and
won’t be a for a while),
- The decimal point slides to the right which makes current lending
practices obsolete (better make damn sure you are lending to someone
that can pay it back)
- The decimal point slides to right and as adoption continues it
rewards savers against the deflationary pressures.
- It is built to be fungible, as it is impossible to charge interest on, it is also impossible to gain interest on.IOW the horse has legs and is built to run steady for 100 years.
- By proxy designed to move the goalpost on technology. Look at ASIC designs today versus three years ago, far superior to the AMD/Intel branches. New developments that are 99.9% more energy efficient, 2000% faster and cost fractions of pennies to manufacture in an open source model versus the old CPU’s on the market.
- The organic growth pattern over 7 years on it’s deployment, it will be the only functional international currency in 7 years.
With the improvements in CPU ASIC designs that are freely available it will completely renovate everything in term of governance, governments, and how economies actually work. All fully transparent.
Now where it get interesting is when the clodhoppers running economies today understand they can back their PM’s into a crypto to assign a market value then and only then will anyone see the value of their PM’s. Additional if looking at a commodities based international trade system then it would be advisable for commodity producers to produce their own crypto currency to trade their commodity as a crypto currency to formulate a trade token.
e.g. Bananas. Brazil and Jamacia produce lots of Banana’s for the world market. The Banana cartel renders ‘banana coins’ using the open source of the BTC base to match their production of Banana’s to the crypto being produced and the exchange rate pair is tied back to BTC to accomodate a fair trade market practice as the “BananaCoin” is exchanged directly to the value of BTC. In programming it’s called weighing a metric in an array.
And anyone else that produces Banana’s can join the existing network of ‘BananaCoin’ to sell their commodity. Or whatever commodity is there. Lumber, silver (LiteCoin), gold (BTC), Platnium (DRKCoin last I heard), oil, widgets, whatever. As long as the amount of coin matches the supply of whatever, which can be programmed easily. The thing is the fiat doesn’t availability or supply, but a crypto coin can provide supply, trade/swap value against other commodities based on a metric without the horse shit of people getting in the way. Eventually a nice steady economy based on trade NEED, rather than the warehousing horseshit that only produces loss and has killed more industries that can be counted.
This is how an entire planet gets migrated to a single currency, that isn’t a currency, it’s an anchor to facilitate commodities in trade instead of the usual middle men arbitrage that has put everyone on the planet in the hole. It’s the start of the equivalent of sharing fairly.
Once BTC is in place, it is recommended that most commodity producing nations look at their various sectors and make a coin. LobsterCoin, LumberCoin, EducationCoin, ProgrammerCoin, etc. Doesn’t matter. BTC is a single horse that can pull them all and help manage the true value of trade/swap of the commodity in a completely transparent manner and level the playing field with nice agnostic math.
Pretty sure most countries have math departments, business groups and computer science groups to figure out how to implement their own crypto coin against a commodity against the BTC to cross trade a commodity for a commodity using BTC as the pinon.