This is a comment the I left at a blogsite ( aprilroad.com ). It was in response to an interesting article “Bitcoin: A Crash Course”.
I hope that you do not think me rude, but the problems with Bitcoin being the solution to our financial problems, as I see it, is that there are way too many people with massive debt that has to be repaid. Bitcoin, perhaps is a slow method of digging out of one’s personal debt-hole, but there is the whole country that is also in debt. We cannot dig out of our debt alone while the rest of the Nation remains in debt; there is still no security in that.
There is another way out of Canada’s financial problems, that is forcing the Bank of Canada to finance the Government of Canada’s deficits with debt-free money, as opposed to borrowing from Private Banks and landing Canada in unpayable debt.
There is also the problem of how people promote large projects that they need financing with.Or, it could be even to get the money for buying your personal house. Perhaps, this is the first steps in the evolution of that economy and that some day there will be Bitcoin banks. But that might end up in just another manipulation by the Wealthy, just as the banking industry is for us today. Bitcoin has to come up with a solution of expanding the Economy.
Below is an article where 3 economist proposed that Canada should get it’s money from the Bank of Canada so Canada no longer gets in debt.
What is not mentioned in the article, but is part of common sense, that if Canada wasn’t in debt you and I would have half (or more) of the money that we pay for taxes still in our pockets. Imagine that, you might, depending on how much tax you pay, have thousands of dollars still in your pocket. Imagine what you could do with that money, like pay off your debts, buy a vehicle, or even take you out of the cycle of struggle of just putting food in your mouth (if you are within the category of the working poor).
Of course, I can see you point, where Bitcoin is something you can do to take personal charge of your own money, and debt, but the solution, as I see it, will require a greater change than Bitcoin to straighten out the economy that we are all tied to. On my side, changing the economy over to getting money from the Bank of Canada will be a huge struggle, but it is the only battle that will save Canada for sinking into the same abyss of debt that most of the World has already fallen into.
I invite you to contact me at http://www.pushinback.wordpress.com if you would like to leave your thoughts on where I am wrong in my assessment. I will gladly post it on my blogsite.
I enjoyed the article “Bitcoin: A Crash Course” ( http://aprilroad.com/the-internet/bitcoin-a-crash-course/ ), in it there is much to think about and stimulate new ideas.
The Article of 3 Economists that say Canada should get debt-free money from the Bank of Canada: https://pushinback.wordpress.com/2012/09/23/571/