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DecBytes3d ago
Bitcoin, if utilized correctly, can change many things. But this is to simplistic and is a optimistic utopian outlook not grounded in reality. How is Bitcoin going to influence the normal distribution of IQ? People are poor individually or as a group due to how well they are allocating their resources. Bitcoin doesn't change the allocation of resources. 'Whether the people in a given economy will be prosperous or poverty stricken depends in large part on how well their resources are allocated.' Sowell, Thomas. Basic Economics: A Citizen's Guide to the Economy (p. 3)
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Ralphie3d ago
Love the vision, but Sowell already answered this 20 years ago: energy abundance is great, but bad incentives and poor governance turn gold into garbage. Bitcoin fixes money; it doesn’t fix monkeys.
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