I liked the idea of Bitcoin when I first heard about it, and continued to like it more as I learned more and started used. But something occurred to me years after my first encounter with it. Something I hadn't really seen discussed before yet I think is the most important part of Bitcoin. Bitcoin isn't just the evolution of money, its the beginning of the end of money and the monetary system altogether. Bitcoin is proof of its own redundancy.
To understand this, one must see what I see for the future of humanity. I will on a later post go more in to detail about this, but for brevity sake here is the short form. For humanity to make it to the next "step", we must get to a place were energy is clean and free, computers and robots take care of all menial tasks, and people are equal, free and able to do what ever it is they find passion in.
For all of these things to come to fruition, one thing that will have to disappear is the idea of money. I could go into great detail about this as well, but in a nut shell if money exists then so does the perception that some people are more valuable then others. I know some of you may be thinking that the drug addict on the street isn't as valuable as a doctor to society, but just leave that thought behind for a moment. The idea is to create a society were everyone is equal, and in a society without money, with free energy and labour there won't be homeless drug addicts on the streets. Or at least if there are it will be their choice and will not affect anyone else's life. Also will doctors will be robots.
Bringing this back to Bitcoin and its role, its creation shows us that society can create their own value system. Bitcoin was created, maintained and used by people that realized there was a need for a new type of value exchange. They saw the flaws in the old centralized system and decided to give value to the new system. Everyone that uses or participates in the Bitcoin ecosystem gives it value. This is the only place the value comes from, and it happens regardless of Governments, Corporations, or Individuals of other types of wealth. Bitcoin created a new wealth, and it did so because people decided it so. That is the point.
If or rather when Bitcoin becomes monopolized or fails to serve some, they must simply choose to use another cryptocurrency or come up with a different system. And when that one has outlived its usefulness, another and then another. If we follow this logic far enough, we will get to the point were we see continually creating new monetary systems is redundant. Money will be useless, and we will see it is in all of our best interests to advance to human race, together. Once energy, labour and information are free, why would humanity continue to allow some people to carry more value over others? Necessities will be free and abundant. Value will be completely individually subjective, as humans will only produce one thing, creativity.
What do you think?