The beginning of something new. Part V – The end of currency as we know it? | Decomplexification

Could there be a currency independent of government? Maybe: #bitcoin #currency #government

Of all the articles I have written in this series , I admit this is the most far fetched. Regardless, with all the likely changes in education , manufacturing , transportation , and media , it seems possible that our currency could change too. A new form of currency I have been following a new form of currency called Bitcoin for several years. Bitcoin is essentially digital gold. It is digital because it is stored on a computer. It is gold because it has to be “digitally mined .” What is most interesting about Bitcoin is that there is no central bank or government that controls the currency. In a world where currency isn’t controlled by government, interesting things happen. (I’m just not sure what they all are.) I have no doubt our tax system would change. Governments can’t simply print more currency when they need it. Things like inflation and deflation would be both mor...

Full article: http://decomplexification.com/2012/10/08/the-beginning-of...