05 Jun '13, 4am

Don't Be Silly, The Entitlement State Won't Allow Bitcoin

Don't Be Silly, The Entitlement State Won't Allow Bitcoin

Consider the attraction of bitcoin and the like. People are desperate to have a stable, non-debaseable medium of exchange–so desperate that they are willing to try a virtual currency backed by nothing, so long as they believe that its supply will remain relatively stable. But what makes for this desperation? Why isn’t the government-controlled dollar stable in value? Why does government inflate and debase its own money? The answer is: to finance the entitlement state.

Full article: http://www.forbes.com/sites/harrybinswanger/2013/06/04/do...

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