en-us https://www.intensedebate.com/users/1197176 Comments by Elias http://eliasbizannes.com/blog/2017/10/why-bitcoin-or-another-deflationary-currency-will-lead-to-an-economic-revolution/#IDComment1051450382 It is an interesting point you raise, given countries control the cash rate which impacts lending and inflation, as well as being the local store of value. <br /> <br /> <br /> <br /> My simple response is that it’s all relative. Right now, the greenback is the reserve currency off the world and economic statistics are quoted in USD not to mention directly impact some dollarised countries. If they became quoted in BTC, that would certainly change the perception of where the numbers are.<br /> <br /> <br /> <br /> On the assumption BTC becomes the global store of value, this is a shift in dynamic on the global economy that will turn everything on its head. Case in point is internet commerce: why bother with national currencies? Things will gradually start getting quoted in BTC, like what already happens in crypto exchanges alongside the USD. So pricing with be evident there.<br /> <br /> <br /> <br /> If BTC does this, it will become the global 'cash' of the world. If it becomes the standard for international trade, I think it's not going to have a parallel that we can equally compare to. Fri, 20 Oct 2017 19:20:12 +0000 http://eliasbizannes.com/blog/2017/10/why-bitcoin-or-another-deflationary-currency-will-lead-to-an-economic-revolution/#IDComment1051450382 http://eliasbizannes.com/blog/2017/10/why-bitcoin-or-another-deflationary-currency-will-lead-to-an-economic-revolution/#IDComment1051345460 The whole concept of fractional cash system blows my mind. Isn't that why we had the financial crisis?! These banks are creating loans out of thin air!<br /> <br /> <br /> <br /> Aligning lending to actual cash reserves, which yes, will lead to higher rates due to competition for a more 'limited' pool. But also, what is it that is putting demand on that debt? If no one could get a bank loan to buy a "home\" or didn't want to shoulder the interest, that would lead to a corresponding decrease in the value of real estate. The market would adjust. It's why answers like this are hard because the entire system gets impacted and there's not simple answer.<br /> <br /> <br /> <br /> So yes, he's right interest will be higher: that's the point. But the issue of less capital" going around is the real underlying issue he alludes to and to answer this, this needs to be looked at a bigger picture of sustainable debt, inflation, etc. Right now, we're just passing the buck.<br /> <br /> <br /> <br /> Less borrowing is going to definitely reduce economic activity. But that's also why maybe the problem is that we define progress on a 'bigger' economy -- eventually, things will plateau and growth will no longer be possible to meet this "growth fetish". So before we hit this crisis, which will happen in the next century due to birth rates declining (Japan and Italy are going to be an interesting to watch for this reason), we need to better way to measure progress.<br /> <br /> <br /> <br /> And so by changing the equation of what is progress, we change the inputs. And this doesn't mean he's wrong about the higher interest rates, but he's wrong it being an inefficient economy -- it's only inefficient for the current house of cards we have as a system. Wed, 18 Oct 2017 20:50:35 +0000 http://eliasbizannes.com/blog/2017/10/why-bitcoin-or-another-deflationary-currency-will-lead-to-an-economic-revolution/#IDComment1051345460 http://eliasbizannes.com/blog/2017/09/bitcoin-as-store-of-value/#IDComment1050070268 Can you walk into a store and pay with gold? No... Tue, 26 Sep 2017 04:35:55 +0000 http://eliasbizannes.com/blog/2017/09/bitcoin-as-store-of-value/#IDComment1050070268 http://eliasbizannes.com/blog/2017/09/bitcoin-as-store-of-value/#IDComment1050070264 Can you walk into a store and pay gold? No... Tue, 26 Sep 2017 04:35:49 +0000 http://eliasbizannes.com/blog/2017/09/bitcoin-as-store-of-value/#IDComment1050070264 http://eliasbizannes.com/blog/2017/01/how-any-country-can-leap-frog-in-technology/#IDComment1039039872 It\\\'s a database in essence, decentralised across multiple computers, using cryptography to validate data. This removes the need of humans as authenticators, so has become a distributed trust system. Perfect for storing things of trust (and value) like currency, votes, contracts, etc. As for how the technology works, plenty of resources on the web that would go out of date the moment I linked to it. Wed, 15 Feb 2017 23:54:12 +0000 http://eliasbizannes.com/blog/2017/01/how-any-country-can-leap-frog-in-technology/#IDComment1039039872 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment991119164 No Wed, 19 Aug 2015 05:38:19 +0000 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment991119164 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment991119145 Any nationality. But it also depends on the company -- S-Corps have different rules. Wed, 19 Aug 2015 05:38:06 +0000 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment991119145 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment991119049 The paper work for your role, ideally, is signed with another persons name to not raise questions if foul-play but it could also be you if you are on the board (what I did). The letter needs to come from a representative of the board of directors. You don&#039;t need American representatives and yes you need paperwork to back the board&#039;s eletion in accordance with the bylaws and the decision they make in meeting minutes. Wed, 19 Aug 2015 05:37:19 +0000 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment991119049 http://eliasbizannes.com/blog/2013/12/secondary-value-is-what-is-holding-back-bitcoin/#IDComment764760657 Yeah, that&#039;s a great post and I&#039;ve separately being reading into the protocol and intrigued by the namecoin project but as of yet I don&#039;t see this secondary value issue resolved. Mon, 9 Dec 2013 11:47:53 +0000 http://eliasbizannes.com/blog/2013/12/secondary-value-is-what-is-holding-back-bitcoin/#IDComment764760657 http://eliasbizannes.com/blog/2011/09/what-is-startuphouse-its-a-rocket/#IDComment643174298 Thanks. Yeah, the issue is the images are no longer hosted from where I got them from (Flickr). Thu, 16 May 2013 00:37:07 +0000 http://eliasbizannes.com/blog/2011/09/what-is-startuphouse-its-a-rocket/#IDComment643174298 http://eliasbizannes.com/blog/2013/04/bitcoin/#IDComment620161353 All the world needs is one Bitcoin (of the 21 million) to succeed, which can be broken down into a quadrillion units. If that happens, and a Satoshi is too expensive (say base level of $10+), then a new fiat currency could be created which used the Bitcoin/Satoshi as the base value like how we&#039;ve done with Gold in the past. so yes, I still think the same way. To be honest, I&#039;m still trying to digest the ramifications of a currency like this: it truly is disruptive -- its now got a critical mass that I think will propel it and be unstoppable as the world&#039;s true unit of agreed on value that is not controlled or manipulated by anyone. Tue, 16 Apr 2013 00:51:08 +0000 http://eliasbizannes.com/blog/2013/04/bitcoin/#IDComment620161353 http://eliasbizannes.com/blog/2013/03/why-do-we-need-money/#IDComment608629300 Fixed -- thanks for the correction! Mon, 1 Apr 2013 04:05:35 +0000 http://eliasbizannes.com/blog/2013/03/why-do-we-need-money/#IDComment608629300 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment494615607 Thanks for sharing Jason, I\\\'ll keep an eye out for this. Mon, 19 Nov 2012 05:13:04 +0000 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment494615607 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment415987694 Come to the US on a the visa waiver, check things out and build relationships. You can register a company online. You do the E3 visa when you have things setup. You could do this all from Australia potentially. Sun, 5 Aug 2012 20:27:49 +0000 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment415987694 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment415986974 If you are looking to launch a branch office, you should consider the L1 visa. The E3 process will take about 10 days to get your LCA approved and processed, and then it&#039;s just a matter of booking an appointment at the consulate. Sun, 5 Aug 2012 20:26:15 +0000 http://eliasbizannes.com/blog/2012/07/how-to-become-a-full-time-entrepreneur-in-the-us/#IDComment415986974