Bitcoin-Backpacker on Nostr: In this post, I might come across as a bit of a conspiracy theorist. Some of what ...
In this post, I might come across as a bit of a conspiracy theorist.
Some of what I'll share might seem too far-fetched.
Please read my thoughts and let me know where you disagree or where I might be off track.
On a global Bitcoin standard:
- Your money wouldn't be constantly siphoned off, allowing you to save for your future without needing to invest in stocks or real estate.
- The financial services sector, which currently represents about 25% of the global economy, could largely disappear, being replaced by Bitcoin or Bitcoin-related products.
- Vast areas of prime land currently used for banks could be repurposed.
- The labor hours dedicated to financial services (investing, lending, banking, etc.) would significantly decrease.
- The need for economists would diminish.
Housing would no longer be viewed primarily as an investment.
- Wages would adjust to market rates rather than being manipulated by governments and lobbyists to suppress small business competition.
- Large corporations might struggle due to reduced profits from increased competition.
- Entrepreneurship would become one of the most financially rewarding career paths, overshadowing traditional roles like those in Wall Street.
- Small businesses would flourish.
- Food production would shift away from large corporations towards more local, high-quality operations by mom-and-pop shops and independent farmers.
- Community structures would evolve where neighbors support each other, reducing reliance on government services.
- The need for insurance might decrease as people rely more on family networks rather than on corporations whose trustworthiness for long-term payouts is questionable.
- You wouldn't need to spend time understanding the complexities of the financial industry, freeing you to focus on your true passions.
What other changes might we see?
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