I’ve heard before that merchant adoption on it’s own will not fuel consumer adoption of Bitcoin.
I tend to agree. Why would someone go out of their way to acquire Bitcoin at a cost only to purchase something when they could have much more easily used their credit/debit cards for free?
Continue reading “Bitcoin Discounts will Fuel Mainstream Adoption”
I will admit that when I bought my first Bitcoin I didn’t understand the potential impact that this technology could have on the world. I was motivated purely by my philosophical and ideological beliefs and saw Bitcoin as a great way to practice agorism.
However today, what many called a libertarian pipe dream is turning out to be more of an investment for the future. Those philosophical beliefs still exist and still motivate me, but I now have a much deeper understanding of the underlying technology. What I thought to be just a digital currency detached from governments and central banks turns out to be much more; it is a remarkable protocol with a multitude of applications. Continue reading “Bitcoin – From Libertarian Pipe Dream to the Mainstream”
In the free market, failure is always an option. The United States has one of the world’s most vibrant entrepreneurial cultures, where millions of people start small businesses, create new products and invent new technology. Part of the startup culture is the idea of failing fast, failing cheap and failing towards success by learning the lessons taught by failure. Cultures that punish even minor failure in business with shame, exclusion and stigma are far less likely to foster entrepreneurs because they prevent experimentation by making it too risky.
Recently, the US has been infected by the “failure is not an option” mantra, a toxic hubristic fallacy, disguised as a truism, which promotes the idea that risk can be removed from life; that 100% security and 100% control are possible, even desirable. Those who attempt to remove the possibility of failure, to de-risk financial systems, end up creating the probability of spectacular failure. By removing the option to fail cheap and fail fast, they instead concentrate risk and ensure we will fail hard, fail expensively, fail across the board.
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