Swedish Pirate Rick Falkvinge Brings Humor and Profundity to Bitcoin Cash Debate
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He also sees cryptocurrency mass adoption to be an extinction level event for banks while bringing panic to governments that will realize that taxes can no longer be enforced. He is also a cryptocurrency evangelistregularly discussing Bitcoin rick falkvinge bitcoin mining the ramifications due to its growing popularity. Falkvinge was one of the people who had predicted Bitcoin's thousand-fold increase back in Russia Today's Sophie Shevardnadze asked him to comment on the recent developments in Bitcoin.
So, there is an upper ceiling. But if you're just regarding bitcoin as a commodity on the market, which I think it is, like any currency, that upper ceiling can easily go up to 1 billion or more per bitcoin. Falkvinge is sure that cryptocurrency will displace the central bank money.
But he warned that Bitcoin might not be the "final cryptocurrency" just as what happened with early social networks that where overthrown by more robust solutions.
Talking about the August 1st Bitcoin split, which resulted in two different versions of "bitcoin": When RT's reported mentioned the gold rush about cryptocurrency mining resulting in video card shortage in many countries, Falkvinge argues that "Bitcoin cannot make everybody rich.
And more than anything, Falkvinge continues, that is going to have a profound effect on what the future society will look like:.
I think that is going to be one of the more profound changes happening here. A wealth transfer to an entirely new type of people. But the Pirate Party founder is not an ignorant fanboy.
He warns that Bitcoin is a really risky investment:. This is a really risky investment. And if you ask me whether anybody should invest, then the answer is nobody should ever invest in more than being capable of losing every single last cent of it. Asked about the recent comments by established banking figureheas about Bitcoin being a bubble, Falkvinge seems certain that this is not the case.
He sees Bitcoin bringing a financial revolution because in a cryptocurrency transaction " nobody gets rick falkvinge bitcoin mining decide whether I can make that transaction or not, including financial authorities.
And that in itself will mean a financial revolution. This is an extinction level event for rick falkvinge bitcoin mining. Banks will no longer be a necessary middleman. Falkvinge also discussed Bitcoin's anonymity and traceability - or lack of it - and the possibility that governments might restrict Bitcoin trade for fear of its shady uses. He said that bitcoin is " more traceable than any money that came before it because every single unit of bitcoin is traceable through its entire monetary history - through anonymous accounts.
But once you de-anonymize account you can start unravelling where the transactions go. He also added that being Bitcoin a peer-to-peer technologyno government will ever rick falkvinge bitcoin mining able to stop it altogether.
And Bitcoin's rick falkvinge bitcoin mining of any middleman approving or denying transactions would be a problem for governments in the future regarding tax collection: And that is a horrifying thought.
Because that means that the bank can also deny me permission to buy a bottle of water. With Bitcoin this is not true. There is nobody needing to give permission in the background. No money can be forced. No money can be seized. Taxes can no longer be forced. An interesting question was about how Falkvinge rick falkvinge bitcoin mining about the fact that people can use bitcoin to pay for or child pornography or to order a hit on someone. Falkvinge also thinks that the recent interest from governments and banks about bitcoin's underlying tech, the blockchain, will not be fruitful rick falkvinge bitcoin mining them.
He sees the whole blockchain vs rick falkvinge bitcoin mining bank currency debate as similar to the battle between open-source and proprietary software which ended with every web server running an open operating system:. In this way, a blockchain currency vs a central bank currency is a lot like open-source software vs proprietary software, like Apple MacOS or Microsoft Windows. It took 30 years, but in the end, pretty much every single computer web-server is running an open operating system.
In the same way, I predict that we will go from proprietary money to open money and permission-less money like Bitcoin.
Read the interview of Rick Falkvinge to RT. Please rick falkvinge bitcoin mining here if you are not redirected within a few seconds. Falkvinge is mostly positive: He warns that Bitcoin is a really risky investment: An extinction level event for banks Asked about the recent comments by rick falkvinge bitcoin mining banking figureheas about Bitcoin being a bubble, Falkvinge seems certain that this is not the case.
He sees the whole blockchain vs central bank currency debate as similar to the battle between open-source and proprietary software which ended with every web server running an open operating system: This article should rick falkvinge bitcoin mining be taken as, and is not intended to provide, investment advice on Bitcoin, Cryptocurrencies or finance in general. What Is A Block? What is An Altcoin?
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