HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Editorials & Other Articles (Forum) » A Revolution in Money

Fri Apr 4, 2014, 05:14 AM

A Revolution in Money

A Revolution in Money


And even if you believe Bitcoin is no more than a fad — and that may well be, given its volatility, security issues and potential regulatory challenges — it has raised the prospect of new virtual currencies and, at the least, cheaper and more efficient transaction mechanisms.


“Money is a very interesting philosophical idea in that we have all of humanity agreeing on this system,” said Ray Kurzweil, a futurist, inventor and author. “So even though we may radically disagree on some things — like let’s say the U.S. government and Al Qaeda — they both respect money. So it’s remarkable how we have this universal respect for this very esoteric virtual construct.”

Several prominent dreamers, including Marc Andreessen, who led the team that invented the first commercial web browser, say they believe that new virtual currencies will come to dominate the way we pay for things in the future. “Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system,” he wrote recently.

Mr. Kurzweil, however, is not so sure how easy it will be for new currencies to emerge. “We’ve built up respect for currencies associated with nations,” he said. “People respect dollars, mostly, I think, because of the track record, relative stability.”

Other futurists suggest that there will be dozens of ways

http://dealbook.nytimes.com/2014/04/01/a-revolution-in-money/?_php=true&_type=blogs&src=twr&_r=0

1 replies, 6204 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply A Revolution in Money (Original post)
Ichingcarpenter Apr 2014 OP
toby jo Apr 2014 #1

Response to Ichingcarpenter (Original post)

Fri Apr 4, 2014, 12:44 PM

1. I've wondered the same thing.

 

But, instead of a material currency shift, I think a philosophical shift in how we relate will come first.

Basically looking at a world where 'money' cannot be horded. We're pretty far from a system like that, although it could work in limited circumstances, like the confines of a commune, or any tight-knit community of like minded people. From there you work up the organizational chart: a group of units - a 'state', to a group of those - a 'country', etc.

It's a tough call, puts us up against the reality of our greedy human nature, folks don't like dealing with that.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread