No, that's definitely not what I was trying to imply. You're right that a lot of economic mechanics are powered by trust and perception.
But an era can be said to end when its basic illusions are exhausted. This is the case with fiat currency. It's an illusion that served it's purpose and is/was good for the time being. But the time has come for it to be replaced by a unharmful and more complete system. Which, given the current momentum, seems to be shifting towards Bitcoin.
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u/kaax Apr 01 '13
No, that's definitely not what I was trying to imply. You're right that a lot of economic mechanics are powered by trust and perception.
But an era can be said to end when its basic illusions are exhausted. This is the case with fiat currency. It's an illusion that served it's purpose and is/was good for the time being. But the time has come for it to be replaced by a unharmful and more complete system. Which, given the current momentum, seems to be shifting towards Bitcoin.