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The main problem I see is that traditional financial structures exist because they can allocate to the human labor capital pool to get things done. In a nutshell, if the need for a human to work is denied (dystopian) or goes away (utopian) then the use case for money and tradfi goes away. Bitcoin exists as an opposing force to tradfi structures. If tradfi structure goes away because human labor as capital disappears, then the need for BTC as well and any other chain disappears. Bottom line, the meaning of money will change in a utopian outcome. Work will be optional which means money will be to. If money is optional then so is bitcoin. Thoughts?
Replies (3)
Not necessarily. The meaning of work could also change. From: working to survive as is the case now for most people. To: βworkingβ to explore the depths of the oceans, interstellar travel, giant leaps forward in science & technology- driven out of the sheer curiosity which may be unleashed once we pivot from a broken money to a better money.
one word: usury
200 years of it is enough.
the real use of tradfi is robbing people. the rest is just the honey for the trap.
I believe that human action means we will always create value, and specialise, plus trade
So the need for money will always be there to perform its 3 key features
Store of value
Medium of exchange
Unit of account
The technological cycle will not create a scenario in which the human spirit of endeavour goes away
What inspires us might change
What is considered success might change
But the utopian and dystopian you mentioned are very unlikely in my view
