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Re: <nettime> Geert Lovink & Patrice Riemens: The Bitcoin Experience,
Brian Holmes on Sun, 1 Feb 2015 20:04:50 +0100 (CET)


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Re: <nettime> Geert Lovink & Patrice Riemens: The Bitcoin Experience,


On 01/30/2015 08:34 AM, Patrice Riemens wrote:

However, technological advances to which the current banking system is
ill-prepared, especially at the 'retail' level (never mind the not
improbable collapse of the financial/monetary system as we know it),
makes that non-banking, and possibly non-centrally regulated, electronic
payment systems will win the day, especially in the realm of
transactions by or between individuals.

Imagine that Europe finally emerges from this financial crisis as a real state, able to tax. Then on the verge of another great crisis, with Russia about to try relaunching an opt-in gold standard, China, the US and the EU agree instead to install a global electronic currency with total traceability and transaction taxes for a variety of social ills that have in the meantime become extremely pressing: carbon emissions, financial speculations, dumping of cheap products etc. Retrospectively, the social sculpture of Bitcoin proves to be the Hegelian ruse of reason preparing the desperately needed world state. You don't like it? Nowhere to hide.

curious about that one, Brian


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