Bitcoin and the end of collectivism

Trend: collectivism

Trend: collectivism

Trend: collectivism

Bitcoin

Bitcoin

• Mobile• Open source• Decentralized network• Cryptographically secured• Toddler phase– Niche industries– Primitive stock & loan markets

Bitcoin credit market

The real bill / bill of exchange

The real bill / bill of exchange

• “Sale on credit with order to pay in xx days”• For consumer goods in high demand• Extinguishable debt• Bottom up, consumer driven• Contracts can be tradeable

Advantages

• Fraud is more difficult, because investments serve directly to purchase lower order goods from the producer

• Not inflationary• Helps solve volatility problem• Tradeable contracts• General interest rates are replaced by case by

case, dynamical discounts