Bitcoin in Sci-Fi World
Bitcoin and other cryptocurrency’s becoming the dominant forms of global currency usher in the new era of Sci-Fi World 2020+.
In the early 2020’s, fiat currency’s (those printed by national governments) still exist, although rapidly being replaced by e-currencies issued both by national governments and decentralised e-currencies like ripple, litecoin, and bitcoin cash.
In Sci-Fi World we look back at the days before blockchain digital currencies and realise how trapped we were simply due to the power of governments to create ‘money’ out of thin air; a hoax that was played on us for centuries,
A problem now eliminated through the immutable distributed ledger technology of cryptocurrencies like bitcoin.
Currencies like Dollar, Pound and Euro only continue to exist at the early stage of Sci-Fi World as local trading currencies backed by blockchain and used for ‘official government business’, quickly converted to the more popular global cryptocurrencies of the day, such as bitcoin and litecoin.
As of 2017 we see blockchain disruptions taking root:
“What is your suggestion to protect investors from scammers? What level of regulation would be required? Can Decentralised Autonomous Organisation’s serve that function? How do you ensure protections for those entering the system and exiting the system?”
In 2001 I was introduced to the work of Andrew J Galambos — his book “Sic Itur Ad Astra” (pathway to the stars): The Theory of Volition. (https://www.amazon.com/Sic-Itur-Ad-Astra-Volition/dp/0880780045/ref=sr_1_1?s=books&ie=UTF8&qid=1521924459&sr=1-1)
He describes in detail (even before blockchain) how society could operate morally to protect the rights of everyone (extending beyond the work of Ludwig von Mises), via things like user fees (such as local toll roads), or insurance companies that provide the service they insure for, so as not to have to make payouts. Such as a sound-proofing insurance company that provides and maintains noise reduction technologies.
Through a free market, regulation is provided by the services people pay for, including Consumer Protection or local watchdog services (like Which Magazine https://www.which.co.uk and BBC Watchdog http://www.bbc.co.uk/programmes/b006mg74).
If the gullible lazy masses no longer had a false sense of security from supposed angels in government to help regulate a fair economy, they would all start taking more self-responsibility and seek out trust networks.
Now with blockchain, through Decentralised Autonomous Organisations, the smart-contract trust networks by which all systems operate will increasingly become free of human fraud.
This will allow watchdog/protection/user-fee/insurance services to protect individual rights data, monitor breaches of contract, restrict access to parties who have agreed terms, etc.
Thereby, an Open API Economy based on a social stack of trust frameworks will soon fully decentralise security, identity and exchange — eliminating centralised Stage-sponsored regulators.
Andrew J Galambos was recommended to me by Dr. Frank R Wallace, author of The Prime Law as follows:
(The Fundamental of Protection)
*The purpose of human life is to prosper and live happily.
*The function of government is to provide the conditions that let individuals fulfill that purpose.
*The Prime Law guarantees those conditions by forbidding the use of initiatory force, fraud, or coercion by any person or group against any individual, property, or contract.
No person, group of persons, or government shall initiate force, threat of force, or fraud against any individual’s self, property, or contract.
Force is morally-and-legally justified only for protection from those who violate Article 1.
No exceptions shall exist for Articles 1 and 2.
So simple. Now become feasible through DAOs that outcompete and obsolete centralised force-backed fraud-filled government regulators.