26 Sep '13, 9pm

Fun and Fascinating Bitcoin, by @jeffreyatucker via @feeonline

Fun and Fascinating Bitcoin, by @jeffreyatucker via @feeonline

SEPTEMBER 26, 2013 by JEFFREY A. TUCKER Editor’s Note: FEE is a proud sponsor of the upcoming Crypto-Currency Conference on October 5, 2013. Bitcoin has revealed many astonishing things, but here’s my top pick: It has taught us that money itself—not just payment systems and not monetary policy, but the money itself—can be improved. Maybe that seems obvious now. But how come few people (if anyone) really thought of it before a few years ago? Monetary economists, central bankers, and government officials have obsessed only about better management of a failing anachronism. Bitcoin has shown us that money can be improved by the application of the same human energy, creativity, and crowdsourced, real-time information that has made everything else better. This is an epic insight, one that fundamentally shakes up monetary economics, payment systems, and even the involvement of al...

Full article: http://www.fee.org/the_freeman/detail/fun-and-fascinating...

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