EVERY new technological development throughout mankind’s recorded history has been met initially with derision, protest, incarceration, torture, death, and sometimes war. From the Catholic Church’s restraint of Galileo, who insisted that Copernicus was correct in his assertion that the sun was the center of the solar system, rather than the Earth as center, as was the position of the church at the time, to the invention of the printing press, which facilitated the French Revolution due to its ability to improve communication exponentially, to the personal computer, to Bitcoin, virtual reality, artificial intelligence, driverless electric vehicles, etc., technology advancement has always intimidated mankind when first introduced. Bitcoin is no exception.
Taking it to its logical conclusion, the adoption of Bitcoin as a store of value and a means of exchange will literally destroy the existing banking and financial system as we know it. It is inevitable. Nothing can stop Bitcoin. All current assets owned by people across the globe will become worthless. This will include assets owned by all levels of government, including, social security funds, and any other type of retirement fund. It makes no difference if the asset is measured in Dollars, Euros Yen, or Renminbi, the value of all current forms of assets will disappear, literally overnight.
So there will be world anarchy, we’ll retreat to the dark ages, everyone will be poor, and we’ll have to subsist off the land, or die. Right? Wrong. There will exist a fairly large group of Bitcoin Billionaires and Trillionaires, so called “whales,” in all the currently existing advanced economies of the world. These people will control all the power because they control Bitcoin.
There will be a meeting of these people. It will be like Bretton Woods all over again, but instead of politicians and bankers attending, it will be Bitcoin Billionaires and Trillionaires. They will declare a “New World Order.” Under the Bitcoin “New World Order”, a percentage of all Bitcoin in the world will be taxed at some agreed upon amount sufficient to replace the capital of every private individual, institution, and government around the globe with an amount equivalent to the pre-Bitcoin changeover.