Love the dreamers– they make life worth living. Right now many are looking into bitcoin and seeing their dreams in the reflection. And like all things bitcoin, this is playing out in public view, so we see other’s hopes and fears. Unfortunately, a technology only fulfills a small percentage of the dreams– but I suggest we keep the dreams in mind and then try to fulfill them next time. Some wrote up the WWW dreamers and telephone dreamers.
What are people dreaming into bitcoin?
Some dream of riches based on speculation exemplified by the Winklevoss Twins.
Some see it as a local currency that works to help support a community. A sharing oriented community. Center of interesting communities.
Some reporters love to write about Big Threats. And others then get to say “No it’s Not”
Some reporters see it as their chance to call the bubble.
Some hate gold and see bitcoin in that light.
Some love gold and see bitcoin in that light.
Some dream of a transaction system that does not take large fees.
Some see a very interesting mathematical and cryptographic system.
Dream of a whole new world of finance based on it.
Some see an analogy to the Internet/World Wide Web, with magazines, trade shows, community driven protocol improvements, multiple clients, and an association.
A system that can built on to build other systems.
Then there are nightmares of loss of control, such as Federal Reserve’s and the Department of Homeland Security’s.
A Venture Capitalist dream of startup riches.
A dream of a system of philosophy with distributed democratic truth.
A monetary system that is truly international, or non-national.
The good things is that some dreams come true. Happy Holidays!
What seems to missing among Bitcoin dreamers and critics is a s revolutionary Marxist analysis of the open-source currency.
If there has been one, I have yet to read it.
Certainly there are many technical aspects of Bitcoin that make it fascinating and worth greater study.
Capitalism’s well-known problems are historical and systemic.
It has shown an extraordinary capacity to cosmetically reinvent itself on the threshold of each new economic crisis– but more often than not leaves ever more inequality and chaos in its wake.
Currency as a tool should be democratically put in the service of helping to fulfill human needs, not to serve the greed of a minority.
Since Bitcoin’s value comes chiefly from its scarcity and has no clear relation to the value of work, it appears to be a pipe dream which serves to divert attention from the direction people must go if civilization is to progress.