bitcoin is a game changer

May 21, 2011 at 6:16 am | Posted in Uncategorized | 1 Comment

The more I read about and use bitcoin, the more I think it is a game changer – in a very fundamental way.

A professor at the London School of Economics made a good point:

“[The lecturer] was saying that the only reason that governments are governments is that they control the currency; they don’t actually do anything for us that we don’t pay for, other than expose us to the threat of foreign wars by their reckless actions. They don’t actually really even govern us; all they do is control the currency and rake off the proceeds.”

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  1. […] I keep on reading that Obama is considering creating “the trillian dollar coin” to fix the nation’s monetary problems (ie “printing money”). This loose monetary policy can have disastrous consequences for the US dollar, namely hyperinflation. It can potentially collapse the world’s financial system and cause widespread chaos. The US government will, overnight, become irrelevant. I wrote about this a few years ago in this blog post. […]

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