Do not fall for the hypothesis - why Bitcoin's $ 10,000 price is not reflected in its true value

Let's follow the arguments from things started. Or, rather, from the end: Modern time. We are writing these lines, since witnessing a complete riot against experts of some categories, domains that are difficult for us to understand, such as greater economic reality, and which are not experts at all,But he does not know it. The former governor of the Federal Reserve, Greenspan and Bernanke, had a very brief understanding of the temporary realities: We've been late for a bit: MacroBra is more than one microbes, which is why we will be cautious about the involvement with the centralized macro decision.

Does it make it worse that all central banks are managed under the same model, it creates a perfect monoculture

In complex domains, the skills are not concentrated: under biological realities, things work in a delivery method, since Hayek appears firmly. But Hayek used the concept of controversial knowledge. Well, it shows that the thing that we are saying in the name of knowledge to work well is not necessary. No we need personal rationality to structure all our needs.

This does not mean that all participants have a democratic share of decision. One motivated participant can unexpectedly remove the needle (which I have researched as a minority rule). But every participant has the option of being a player.

Somehow, under scale conversion, arising from a miracle effect: Reasonable markets require no personal merchandise to be reasonable. In fact, they work well under zero-intelligence - an empty intelligence community, under the right design, often comprehend intelligent and intelligent people from Soviet-style management.

Why Bitcoin is a wonderful idea. It does not meet the complex system requirements, because it is not a cryptougun, but properly because it has no owners, no authority can determine its fate. It's the crowd owner, its users. And it has a track record for several years now, it's enough to be an animal for yourself.

To compete with other cryptographers, they need to have such a Haikian property.

Bitcoin is a currency without a government. But someone can ask, if we do not get any other government except gold, silver and other metals? Not quite when you trade gold, you spell "loco" Hong Kong and end up accepting a claim on the stock, which you may have to move to New Jersey.

Banks govern custodian games and government control banks (or, rather, bankers and government officials consolidated, together). So there is a huge advantage of Bitcoin gold in transactions: Clearance does not require specific custodian. No government can control your key code in your head.

Finally, Bitcoin will go through the hik-up (hiccups). It may fail; But now it will be reset easily because we now know how it works. At present, it may not be convenient for the transaction, your local power signal is not good enough to buy your DCF Express Express MacBook in the coffee chain. It could be very hard to be a coin, for now. But this is the first organic currency.

But its perfect existence is an insurance policy that reminds the government that it can control the last entity, such as coins, and they do not have exclusive rights. This gives us an insurance policy against the crowd, an Orwellian future!