1,332 karma · joined February 14, 2010
https://www.reddit.com/r/Bitcoin/comments/aacw3h/im_creating...
Bitcoin allows people in Venezuela to avoid wealth confiscation on the borders, either when they are running away or when they are sending money back home to family.
Bitcoin allows people in Iran to transact with outer world.
Bitcoin allows people in India to keep their wealth in face of demonetization.
There are many problems that Bitcoin solves for real people and real companies every day.
Just because you aren't one of them, doesn't mean they don't exists.
I have high hopes for Librem 5 where privacy of user is the core product of the company.
I think the most important aspect is that Lightning Nodes are just sending bitcoin transactions, the whole system is trustless, the node relying your transaction to destination can't steal your money any more then bitcoin full node relying your transaction to miners can.
SSH: https://doc.satoshilabs.com/trezor-apps/sshagent.html
This is on the same topic, from similar angle, also very good one, by Nick Szabo:
"Trusted Third Parties Are Security Holes"
Reality disagrees. Pretty much everywhere where private schools and hospitals are allowed at least to some degree, they provide better value and results for everyone, including the very poor: https://www.economist.com/news/briefing/21660063-where-gover...
Hospitals the same. In my country (eastern Europe) the difference between state hospital and private hospital is like difference between two centuries. The beauty of free market is that it lowers the costs for everyone. So the poor will always have "less luxury" at given time period, but in absolute terms will be much better of with free market then with state services. In eastern post-communist Europe, this is evident on every step.
Our education system preparing our kids for future is still basically the same as our grand-grand-parents was.
Just imagine where our hospitals and schools could be if not crippled by government..
EDIT: downvote me all you like, but the facts and all human history are on my side. Taxes are and always have been paid mostly by poor + middle class. Rich people used to collect them and now have a ways to negotiate a better deals or to avoid them. Look at Trump and his loans schemese. Look at multinational corporations. Look at our local oligarchs in eastern Europe. If you are in middle class, your only hope is to fight for more fair society where tax hells dont exists, and taxes are low for everyone. Because high taxes will never be paid by everyone.
1. Crypto is still in its initial stage, where capital is flowing into it. Once it is there, it will be less volatile. You can already see this in Bitcoin[1], where relative volatility is dropping every year.
2. There are projects coming that will enable decentralized trustless peg of fiat currencies into blockchians[2][3]. So you will have usd/eur in blockchians. Similar like Thether, but without central issuer. This will be very convenient for pricing (unit of account), but with all the benefits of blockchains.
And as author admits fiat is terrible as "store of value" - so with this combination - fiat pegs in blockchain for accounting and native crypto as store of value (keep bitcoin for your grandchildern instead of dolar that looses 95% value over century), it might be the best combination of both worlds.
1: http://woobull.com/bitcoin-volatility-will-match-major-fiat-...
The wealth distribution of dollar is based on how many more people your grandfather killed than my grandfather. I don't have any problem with currency where initial distribution rewards people who took investment risks because they saw potential in innovative new technology.
And volatility - volatility in bitcoin is actually smaller every year, and this trend will continue. And btw volatility is natural and healthy. It's when something is not moving that you should be worried.
So you mean, like, people will not waste nature's resources for things they don't really need? Oh, what a tragedy!