15 Mar '13, 6pm

Protect Bitcoin from Politics

Protect Bitcoin from Politics

If we were to invent money from scratch using all the knowledge available today, we could hardly do better than something like bitcoin. It's better than cash in several important ways: it's unforgeable, it's international, it's inflation-proof, and it has quick, cheap money transfer built-in without the need of intermediaries. However, there are existing players in the market for money and they are as big as it gets. You have probably heard of the market leader - it's called the US government. This money provider also owns more guns than anyone else in the world. It has an unfortunate history of using those guns to threaten people who come up with new currencies. Bitcoin is a child of the internet and its pedigree is reflected in its radical decentralization. Like other p2p protocols, such as bit torrent, there are serious doubts as to whether any one government or group o...

Full article: http://jacobexmachina.blogspot.com/2013/03/how-to-protect...

Tweets

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