a reply to: AnkhMorpork
Sorry, but one thing does not necessarily relate to the other.
Truth be told, most currency exchanges will resemble BitCoin by the 2020s.
Dinosaur financial systems like the Federal Reserve won't be able to compete, which is why so many statements against cryptocurrencies have been
floating around for so long.
Even now entire industries are seeking better and more secure financial transaction technologies that are sucking the life out of central banking due
to their inherent decentralization, security, and stability.
Expect the Asian markets to start making a lot of noise about cryptocurrencies early in 2018 as they fear national currencies won't fair well in a
North Korean war scenario.
People are looking away from the financial system of yesterday. One that is full of security failures so huge that nearly every American has had their
personal data stolen. The only answer to this is to decentralize and heavily encrypt. Now here we are.
Infrastructure comes later. I think the American people need to be given a chance to make it better ourselves rather than trying to rely on the
dinosaur system of government bureaucracy.
I saw an awesome video of a group of teens in Detroit's poorest neighborhoods setting up their own networks to access the internet. No ISP required.
That's the bandwagon I'm getting on. Decentralization, digitizing and encrypting everything, reducing government spending and over-regulation, and
letting us, the American people, fix what needs to be fixed.
I'm not a pie in the sky libertarian. I don't believe EVERYTHING can be handled or should be handled by the private sector. But there's a whole lot
that would probably fair a whole lot better if people were allowed to do it themselves. Infrastructure is a place that I think we'd be better off
without government. They gave us the start of what is now an antiquated interstate system, power grid, water management, and natural resource
management systems. Like anything else in government, the reason is that while private innovation speeds along, government implementation moves at
government speeds. Add cronyism and other BS into the mix and you get the worst possible quality you can get.
Most government computer systems are unsecured. Frighteningly so. Much of our electronics technology is manufactured in China, this has led to
security concerns at the Pentagon. The OPM hack was was one the largest breaches of government systems ever, and it was committed by Chinese hackers.
The US government is way behind the curve on security and I don't trust them to build a smart grid, an updated highway system with integrated
technologies to assist drivers, decentralized power generation and distribution(really important as state governments allow monopolies to run), and
highly encrypted decentralized digital currencies that spend with the same anonymity as cash.
We can do that far better than the government. We are now moving slowly toward that future. All we need government to do is keep the playing field
level by protecting and enforcing the rights of all participants and getting the hell out of the way.
edit on 27 12 17 by projectvxn
because: (no reason given)