0 sats \ 0 replies \ @mallardshead 20 Feb 2023 \ on: How will helpful public services work on a Bitcoin Standard? bitcoin
The solution to these things will manifest from technological efficiency. Not the church or local communitarians pooling their resources in the absence of any welfare state. That's comical. If technology reaches incredible efficiency (which we're trending towards), then the welfare state can carry marginal cost, that is, a cost that doesn't create an incentive structure for anyone to fight it.
Think of fusion energy reducing base load cost and augmenting availability, and all the previously un-economical things that suddenly are. Or simple mRNA treatments for cancer, dementia. CRISPr that edits genes to produce cures. Carebots. Nanobots. Robotics. The yield producing capacity of 3 dimensional printing. Artificial organs better than our own. Vertical farming. Seed genetics. Solid state lithium. Eventually quantum everything.
The real question isn't who funds disability checks, but who funds the technologies that raise the floor while opening the trapdoor on cost at scale. That capex will be spent by the same usual suspects it always was, but bitcoin is an efficiency technology itself, and will make fiat more efficient, politics more honest with a check on their prestige, energy less wasteful, time preferences longer, and investment less reckless. This will probably start with bitcoin's Atlas Blocks.