Monday, April 15, 2013

Bitcoin's Potential for Social Change



Perhaps Professor Krugman is too hasty in calling bitbugs "antisocial". Bitcoin encourages secessionist tendencies, yet holds great potential for social change. What if the World Peace movement collectively transitioned to bitcoin? It would be possible for the people to negotiate peace with their warmongering governments.

Perhaps we will see the emergence of a self-contained, underground economy that chooses its own values. The bitcoin economy would perhaps do away with the real/perceived hypocrisy of political discourse.

Will this bitcoin-enabled New World Order be egalitarian? I don't think so. Early adopters, such as the Winklevoss twins, already have a significant advantage in the bitcoin universe. Question is, can we trust our new cyberpunk overlords?

Character is what one does, when nobody is looking. Bitcoin models reality much closer to human nature. Will the human civilization annihilate itself? Will we survive and thrive? We'll just have to trust human nature.

What will it take to bring about this self-fulfilling prophecy? What kind of infrastructure should bitbugs be building?
An easier, more private way of doing bitcoin transactions via cheap, ubiquitous devices, such as smartphones. Applications such as Bitcoin Wallet already enable this.
Yet, a tipping point hasn't been reached. I still think primarily in USD. When I think in a BTC-centric way, the world will be different.

In my opinion, bitcoin is full of open questions, and opportunities. I remain cautiously optimistic about it.

Full disclosure: I own 4 BTC which I bought at 5 USD/BTC.