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The whole value proposition is that the currency's monetary policy isn't controlled by government, or corporate/political relationship that Federal reserve bank
by PKop 9y ago
The whole value proposition is that the currency's monetary policy isn't controlled by government, or corporate/political relationship that Federal reserve banks have currently.
If the structure models current banks in most ways except that the currency isn't in their control, then it will be a massive improvement.
- kalleboo 9y agoReplacing government politics with the politics of a handful of developers/miners/businessmen? (see the current debacle with bitcoin/cash/segwit/2x)
- PKop 9y agoOf course. Because in clear ways you are more sovereign individual within Bitcoin's politics than government politics. You can opt out, you can choose your politics, switching costs are much lower, therefore incentives to align with you are higher.
- kalleboo 9y agoYou can opt out of Bitcoin as long as it's unpopular as it is now. Zimbabweans also opted out of the Zimbabwe dollar which is why now what you really want there is a US dollar.