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Why Bitcoin is not the answer to all our problems






If you are like me following the tech world every day, you can be excused for believing that currently huge swaths of world are being invaded by this revolution known as Bitcoin and how it spells doom for current economies. While it might still be possible, there are quite a few challenges that seem to be overlooked. Specifically, How scalable is the block chain architecture?It is very easy to think of the block chain as a ledger where all the transactions are recorded and transparent. This has worked well so far with typically a niche set of users. However for Bitcoin to truly transcend the medium of internet and become accepted widely, it needs a significant percent of worlds 7 Billion population to use it. If so many start using it,do we know if block chain technology scale properly and provide authentication with reasonable speed? Even with current users, Block chain has become formidable and Bitcoin underwent a hard fork recently.. The exchange value of Bitcoin - what deter…
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Investing in people

Its a shame that stock issues are released only for companies. A stock in a company, when you strip all the techno fundas , is an instrument of storing value. When an investor buys a stock he merely buys a promise that it will increase in value with time.  We've seen companies increasing shareholder value by three four times in a matter of years. Now if you think about it, an individual working in any capacity, engages in similar economic activity. His revenue could increase or decrease every year. He has funding needs for improving his earning capacity , just like a company. Today an individual fulfills his funding through costly personal loans or personal lending.  So why can't a primary market be planned for individuals where they can issue stocks which can be traded? This would also help them raise necessary funds and also prove to be a blessing for banks to offer credit to them. Most of our farmers , who are starved of funds could in theory have access to the funds when…

On India, China and Rest of India - Part III

In the last post, we saw how Holland came to represent the resurgent Europe with its abundant surplus which was invested in trading companies. while this was happening,lets take a look at India around the same period. while India was known as the treasure land and the land of the riches, the truth, you will be surprised to learn, is far from it. For India was dirt poor , with a few rich people , mainly the nobles, merchants and the kings who owned a majority of its wealth. The vast majority were mostly on subsistence level work. Most of the people were either small farmers or farm laborers. Indebtedness was rampant. People took money from money lenders at rocket high interest rates. Unfortunately, this suited the kings who for all intents and purposes were financed by the same money lenders. Today, we talk about eighty percent of the world's money is with the top 5 percent of people and how this is unfair. As bad as this sounds, there is a silver line here. For, there was not a s…

On India,China and Rest of World-PART II

India and China were the economic power houses of the medieval period. In fact , if we travel back into the past, we will find that the world of today is surprisingly similar to the ancient world, as explained in this post. So how did the situation reverse in the later centuries?How did the two countries became so poor in the later centuries? To answer this question, we need to travel to 16th century in time and  to a small region in Europe known as Holland.  Holland mind you, was not a country then, but a collection of city states who came under a rather crude constitution. If you peruse the history of world, you will notice that sometimes an idea germinates in one small region but ends up changing the entire face of humanity. Wheel, fire, language and so on.. come to my mind from the ancient time. An equally important idea seeded in Holland. For, in Holland of the medieval times, the seeds of what we now call as the modern economy, were sown. The idea of a highly skilled worker, th…

On India,China and Rest of World-PART I

I follow world history with considerable interest , especially related to India, China and rest of the world. If you ask me, the current state of world affairs, especially related to these countries is almost similar to the natural order that existed for most part of the human history. For comparison purpose, lets pick the late 15th to 18th centuries and compare it to the present day.
China is as inaccessible today as it was during the 16th and 17th centuries to the foreigners. Trade to Chinese empire could be conducted by the foreigners only at one port under the watchful eyes of empire's administrators.More or less like today where trade is controlled very tightly by the Chinese government. In fact Modern Chinese initiatives like the "One Belt One Road", "Belt and Road Initiative", have a number of things in common with the medieval enterprise and voyage undertaken by the chinese admiral "Zheng He". They both were intended to show Chinese Upmanship…

"What is red? Is a planet and is the focus of my current orbit?" - @Marsorbiter