Bitcoin Doesn’t Exist – 5
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Gustave Courbet Sunset on Lake Geneva 1876 Chapter 1 of this five-part series by Dr. D is here: Bitcoin Doesn’t Exist – 1 Chapter 2 is h
[See the full post at: Bitcoin Doesn’t Exist – 5]“…But it’s run by humans and reflect human nature: that means over time some new form of exchange and corruption can grow up around it as before. ”
This is really the important point. Money systems will always be corruptible unless human nature changes.
BTW excellent essay; thanks for your numerous insights!
Money systems are part of human culture (this one in particular), not part of human nature. We misconstrue that to our detriment.
All in all; excellent treatise on Bitcoin Dr. D.
I appreciate the clearity of your exposition, but it hasn’t changed my mind and I’ll not get involved with a system such as that.
We’re fast outpacing our ability to deal with the complexities of western societies.
With infrastructure failing all around us; and especially the educational system’s disintegration; we are become a completely failed system.
As you probably know, I chose to leave the west 15 years ago and live quite a simple life; no debt, no property, nothing in my name save my very modest SS benefit.
I fully retired 10 years ago and now lead a somewhat hermetic life style with my native wife.
I’m content and haven’t sought “happyness”; contentment being far more rewarding and more stable.
Again, thanks for your excellent writing; hope to hear more from you anon.Dr. D’s excellent treatise shows comparative social impacts of Cryptos vs. current system. For my part, I live in a money system, and Bitcoin is quite profitable, and at present without some of the egregious exploitative properties of the current system. I was particularly taken with D’s deconstruction of the energy inefficiency argument – I’d never seen that before. And thanks to SteveB’s comment “Money systems are part of human culture (this one in particular), not part of human nature. ” Since I happen to be stuck in this culture, and don’t have the wherewithal to make V. Arnold’s escape, I’ll take profit where I can, and sleep easier because of it. Thanks to all for the superb discussion!
I agree with the consensus, excellent article. Only thing I had to do was find the points to separate the chapters. And I learned stuff too.
As for Griselda’s question a few days ago, the Automatic Earth does have a bitcoin address, for those so inclined (to donate):
bdfca4ac-eb05-4f24-a8ff-0c066f52a0e6
Griselda DeSaranno
…I’ll take profit where I can, and sleep easier because of it.
And happy trails in that pursuit…Raúl Ilargi Meijer
Only thing I had to do was find the points to separate the chapters. And I learned stuff too.Nicely done as well; thanks Ilargi for opening your blog to other.
Oh indeed; a wealth of knowledge was communicated; I learned one hell of a lot.Oh, and Dr. D; I most assuredly did not in any way think you were making a case for crypto; just a splendid comparative of systems; well done.
Money systems are part of human culture (this one in particular), not part of human nature.
Human beings invent monetary systems. There has never been a monetary system regardless of “culture” that has not become corrupted. Don’t kid yourselves about human nature.
V. Arnold said, “…I’ll not get involved with a system such as that. We’re fast outpacing our ability to deal with the complexities of western societies. With infrastructure failing all around us…”
The systems required for Bitcoin (et al.) seems far less “resilient” than those required for cash, checks, and credit cards (which were around long before high speed internet connections).
Doc Robinson
Agreed. I haven’t used a credit card for 2 decades (don’t have one); haven’t made a purchase with a debit card in 15 years (only use debit card to get cash from credit union in U.S.).
Everything we purchase is done with cash. It makes life simple really, and far less expensive.If you look at the interpretation of this idea, bitcoin does not even exist as a currency in the real world. It is only a virtual currency that has its own value. But we can’t help but acknowledge the fact that bitcoin exists and is among us. How popular bitcoin has been in recent years, we can say that in the future there may be a real bitcoin currency, and it will have a form of existence in the real, and not just virtual. I personally believe in the evolution of cryptocurrencies, and I believe that this is the future, and over time it will turn into a regular currency that will be used by each person individually.
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