A Quote by Roger Ver
If the world's using bitcoin, governments won't be able to fund wars through inflation like they do today.
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In the past, most wars were motivated by the idea of nationhood. Today, however, wars are incited above all using religion as an excuse.
Every piece of geopolitical strife that's happening in the world today is revolved around energy, either trying to grab resources or people using resources to fund radical groups.
What people today call inflation is not inflation, i.e., the increase in the quantity of money and money substitutes, but the general rise in commodity prices and wage rates which is the inevitable consequence of inflation.
We've gone thorough religious wars and civil wars. America has gone through slavery, we've all gone through two world wars, segregation. Ultimately it's been a bloody, trying, wasteful, but eventually positive struggle.
After a long period in which the desired direction for inflation was always downward, the industrialized world's central banks must today try to avoid major changes in the inflation rate in either direction.
There's a lot of thought that bitcoin will be a huge threat to existing tax systems or existing ways governments have of controlling currency flows across their border. I personally think governments will do what governments have always done: they will adapt.
Bitcoin is getting there. But it’s not there yet. When it gets there, expect governments to panic and society to be reshaped into something where governments cannot rely on taxing income nor wealth for running their operations.
There is no more reason to believe that Bitcoin will stand the test of time than that governments will protect the value of government-created money, although Bitcoin is newer, and we always look at babies with hope.
To fix Social Security, we should first stop using the Consumer Price Index to adjust benefits for inflation. Using the C.P.I. overstates the impact of inflation and has also led to larger increases in benefits for Social Security recipients than the income gains of typical American workers.
The unique aspect of today's monetary inflation is that it is not limited to one country, but a host of countries are all inflating together. As a result of the monetary inflation (when all of the newly created money begins to leave the banks and enter the system), the price inflation will be worldwide.
The fact remains that we're running a presidential campaign. And we're doing that through appearances like today, fund-raisers like today, where Donald Trump was in Texas, raising money, not just for the trump campaign, but, drumroll, please, for the RNC and the Republican committees, which benefits all these candidates that Paul Ryan is trying to protect.
It's completely reasonable, even if some Bitcoin currency purists wouldn't like it, to have credit and debit card payments denominated in Bitcoin rather than dollars, and net settled on Bitcoin instead of on Fedwire.
The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.
I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain of governments.
In the future, I expect to see bitcoin mining in places where electricity is free or cheap. You could put solar array in the Arizona desert attached to bitcoin miners, and instead of trying to ship that electricity all over world, you could ship Bitcoin all over the world.
Isn't the purpose of bitcoin mining simply to get rich - or not, as the case may be? Well, at 21, we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol - and particularly in the industrial uses of bitcoin enabled by embedded mining.
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