Well, as you noticed, bitcoin only solves one real problem.
The problem with gold is that there is far more of it than anyone realizes, both in the ground and above ground. At any time, any big holders could own the market.
But, gold and bitcoin are things that cannot just be printed. And thus, they are better for an economy than our current inflationary fractional reserve lending model. (i estimate that actual inflation is about 25% per year. Adding up both ends of the deal)
There are other models, and some people are working on them.
Such as, when you make a good, you also make the money to buy the good.
There is one person working on such, where it benefits the original creator to buy back "his" money, thus completing the loop.
All monetary system will accrue to a few people. It is the Pareto Principal. The money has to be designed to work in spite of this.
And actually, bitcoin and litecoin (as an example) might do this. Where all the big money buys bitcoin, and all the little guys use litecoin. Bitcoin becomes a store of wealth. Litecoin is a currency of exchange.
Fixed-supply commodities simply can't be used as currencies. Even gold has historically had inflation due to mining. Modern currencies are not inherently that bad, it's just a question of who allocates and how.
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What happens when 20 people decide to hoard 50% of the supply? This is what my article explains
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It is still less centralized than the US$.
But they do not print about any of the richest people.
If they did, Bill Gates might not even make the top 100 list.
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Not at all, Bitcoin is far more centralized. I believe 1000 people own like 80% or more of the wealth.
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Unless governments started enforcing the use of bitcoin then the rest of the people would have used something else as currency thus bypassing bitcoin.Bitcoin is intrinsically worthless by itself.Its value is given by the demand and suppliers.Anyway i still believe some sort of Crypto is the future of currency but i highly doubt that it will be bitcoin.
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Do you have any links to the models you are referring to. I am very interested in creating an ideal currency.
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I am not finding them.
One had an interview with Chris Martenson.
https://www.youtube.com/user/ChrisMartensondotcom/search?query=money
Dig through there, you will probably find it interesting.
Charles Hugh Smith has some good models.
His books and blog.
https://www.oftwominds.com/blog.html
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