Originally posted by ColCurious
I read the speech...and I agree to a point.
Here is my point:
Centralized financial systems already denied the right of control to national states (look what the troika did to greece for example) and deposed the
people as the highest political body of our nations via lobbyism/corruption.
Giving more control to national states won't help, since they are already corrupted.
The way out (IMO) is to give the political power back to the people by limiting the power of said centralized political and economic systems. The
Vatican council proposes a global financial authority (as far as I know), when what is really needed is exactly the opposite.
Correct. Decentralize everything, and start with money.
Is this possible? Yes, technology has made it possible.
The centralized financial systems may not like it but thanks
to Satoshi Nakamoto we now have a peer-to-peer system
for digital wealth/property conveyance that works.
There are lots of ways to make money: You can earn it, find it, counterfeit it, steal it. Or, if you’re Satoshi Nakamoto, you can invent it.
That’s what he did on the evening of January 3, 2009, when he pressed a button on his keyboard and created a new currency called Bitcoin. It was all
bit, and no coin. There was no paper, copper, or silver—just thirty-one thousand lines of code and an announcement on the Internet. Nakamoto wanted
to create a currency immune to the predations of bankers and politicians. The currency was controlled entirely by software. Every ten minutes or so,
coins would be distributed through a process that resembled a lottery. This way, the bitcoin software would release a total of twenty-one million
bitcoins, most all of them over the next twenty years. Interest in Nakamoto’s invention built steadily. More and more people dedicated their
computers to the lottery, and forty-four exchanges popped up, allowing anyone with bitcoins to trade them for dollars, euros, or other currencies. At
first, a single bitcoin was valued at less than a penny. But merchants gradually began to accept bitcoin, and at the end of 2010 the value began to
appreciate rapidly. By June of 2011, a bitcoin was worth more than twenty-nine dollars. Market gyrations followed, and by September the exchange rate
had fallen to five dollars. Still, with more than seven million bitcoins in circulation, Nakamoto had created thirty-five million dollars of value.
And yet Nakamoto was a cipher. There was no trace of any coder with that name before the début of bitcoin. He used an e-mail address and Web site
that were untraceable. In 2009 and 2010, he wrote hundreds of posts in flawless English, invited other software developers to help him improve the
code. Then, in April, 2011, he sent a note to a developer saying that he had “moved on to other things.” He has not been heard from since.
Maz Keiser has called Satoshi Nakamoto the "Cyber-Christ," but I doubt the Pope has even heard of Bitcoin or given much thought to such emerging
technologies, much less their potential to liberate the oppressed.
Unlike traditional currency, bitcoins are not issued by a government or even a private company. Instead, the currency is run by computer code that
distributes new bitcoins at a set rate to people who devote web servers to keep the code running. Before bitcoin it was precious metal that provided
the “anchoring” for fiat currencies and held inflation in check. Now the same principle of sound money that used gold and silver to chain down the
mischief of governments is the fundamental operating principle employed in the bitcoin code.
Simply stated, bitcoin is electronic cash that is not subject to the false authority of government and therefore, like pure gold or silver, it will
NEVER loose it’s value due to inflation. In short, Bitcoin is the 21st century alternative to the Internationale Banking Oligarch which dominated
the 20th century, and it will change the world in ways we are only now beginning to understand.
To many people, this sounds like an implausibly rosy future, and for early adopters that is true — it feels like winning the lottery every day.
However, for most other people, the ascendancy of distributed currency systems will feel like a disaster. ... the rise of distributed currencies such
as bitcoin could create massive social upheaval due to governments’ rapidly degrading capability to fulfill their core functions of taxation and
regulation of commerce.
As the article quoted above points out, Bitcoin is a very disruptive technology. In the past, the big pools of capital could influence governments of
the world with debt, thus controlling people from the top down. However, what we are seeing emerge now is a bottom-up revolution where the individuals
are reclaiming their sovereignty, and rejecting all false authority. The Pope may speak against the "cult of money" but his Office is as much a symbol
of THE OLD AGE as the golden calf was 4000 years ago,
"You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete"
edit on 18-5-2013 by wasaka because: (no reason given)