09 Oct '12, 7am

Jon Matonis - Bitcoin Prevents Monetary Tyranny #bitcoin

“Bitcoin is about preventing monetary tyranny. That is its raison d’être.” - “A powerful instrument is needed to prevent a corresponding repression — State monetary supremacy. That task has fallen to an unlikely open source project that is based on cryptography protocols and peer-to-peer distributed computing.” - “Essentially, bitcoin is a reaction to three separate and ongoing developments: centralized monetary authority, diminishing financial privacy, and the entrenched legacy financial infrastructure. An alternative money provider that was centralized would probably not survive long in any jurisdiction. The emergence of Bitcoin was baked into the cake already.” - “[Wired’s] Zetter writes, ’At e-gold’s peak, the currency would be backed by 3.8 metric tons of gold, valued at more than $85 million.’ E-gold founder Doug Jackson wanted to solve the world’s economic woes, ‘bu...

Full article: http://www.bitcoinnews.com/post/33221195714/matonis-monet...

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Bitcoin Prevents Monetary Tyranny - intriguing ...

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@d_seaman Bitcoin Prevents Monetary Tyranny

@d_seaman Bitcoin Prevents Monetary Tyranny

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Bitcoin is not about making rapid global transactions with little or no fee. Bitcoin is about preventing monetary tyranny....

Bitcoin Prevents Monetary Tyranny - #bastiat #l...

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The following article was written by Jon Matonis and published on Forbes , October 4th, 2012 . Bitcoin is not about making...

#today #news Forbes: Bitcoin Prevents Monetary ...

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Bitcoin is not about making rapid global transactions with little or no fee. Bitcoin is about preventing monetary tyranny....

Bitcoin Prevents Monetary Tyranny

Bitcoin Prevents Monetary Tyranny

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But you see Jon, transaction COSTs are not the same thing as transaction FEEs. The latter is only a subset of the former. ...

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