₿itcoin on Nostr: #3 if Bitcoin would replace the current financial system overnight, no single ...
#3 if Bitcoin would replace the current financial system overnight, no single government would need to spend alot of wasted energy on securing their own local currency trough war. Administration would be easier and verifiable, no wasted time on transporting banknotes or such.
The real-time price discovery that is possible with Bitcoin makes it possible for prices to immeadiatly respond to issues in the global market, real signals. Instead of paying a fraction of a cost for a shirt made by slaves in bangladesh, you would pay higher and thus be more responsible. The slaves in bangladesh wouldn't be slaves because they got access to their own property rights. This would make it more beneficial for everyone to not waste anything because they aren't forced to. Inventions and etc would also help people be efficienter and thus requiring less energy.
The real-time price discovery that is possible with Bitcoin makes it possible for prices to immeadiatly respond to issues in the global market, real signals. Instead of paying a fraction of a cost for a shirt made by slaves in bangladesh, you would pay higher and thus be more responsible. The slaves in bangladesh wouldn't be slaves because they got access to their own property rights. This would make it more beneficial for everyone to not waste anything because they aren't forced to. Inventions and etc would also help people be efficienter and thus requiring less energy.