[ExI] What happens when Bitcoin goes to a million bucks?

[Brent Allsop]

Hi Kelly,

For me, from within the singularity, or from wherever you happen to be, 
as you approach such, the only way you can tell you are approaching it, 
is the number of great opportunities like Bitcoin expands at least 
exponentially.

The internet and the world wide web were a great opportunity. Lots of 
people got stinking rich, making the world a far better place.  Bitcoin 
is yet another one of those, built on the internet.  As we continue to 
fall into the singularity, the significance of these types of 
opportunities, and the rate at which they occur, will continue to 
explode, as the next ones are always based on, and enabled by, the last 
ones, making everyone even more stinking rich than the last one, at an 
ever increasing rate.

Brent


On 11/14/2013 1:08 AM, Kelly Anderson wrote:
> On Fri, Nov 8, 2013 at 2:35 AM, Mirco Romanato <painlord2k at libero.it 
> <mailto:painlord2k at libero.it>> wrote:
>
>
>     >   That being said, what does Bitcoin specifically (or
>     cryptocurrency in
>     > general) add to the scenario that isn't provided by government
>     backed
>     > currencies?
>
>     Bitcoin add trust because it is trustless.
>
>
> Ok, I get that part. But I don't see really what it has to do with the 
> Singularity specifically.
>
>     Fiat currency (but also gold and silver) can not add trust because
>     they
>     can be debased, payment reversed, fund seized at the source bank, in
>     transit and at the receiving bank and from the hand of the payer
>     and the
>     payed.
>
>
> Not good, of course.
>
>     Governments or sociopathic AIs 
>
>
> Governments are just one type of sociopathic AI...
>
>     could and would exploit the weakness of
>     the system like sociopathic speculators and politics exploit the
>     system
>     now. Given their time preferences and limited resources they could not
>     even understand the scope of the damage they are doing to others and
>     themselves in the present and future.
>
>
> I get all these advantages of Bitcoin. The question remains as to how 
> this specifically relates to the Singularity. Sorry if I'm being dense 
> here, it is late.
>
> -Kelly
>
>
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