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I feel like it's a parable about lofty libertarian ideals -- everything's peachy until there's large sums of money involved. Bitcoin is fixable but now there's
by ng12 9y ago
I feel like it's a parable about lofty libertarian ideals -- everything's peachy until there's large sums of money involved. Bitcoin is fixable but now there's a financial incentive for never fixing it.
- jhiska 9y agoYou're probably right about Bitcoin not being fixable as a currency, and I say probably because I almost never speak in absolute terms. There are alternative cryptocurrencies that stand a chance of working out; the idea is mainstream now. To me, it's a parable about the danger of following a pseudo-philosopher with no academic credibility and whose relevant oeuvre is fictional literature and not reading what Adam "Greed Is Good" Smith actually wrote about free markets AKA unregulated capitalism, which was that an economical system of people acting in their self-interest ends up promoting a greater economical and moral good for everyone but only as long as there are significant safeguards against abuse, but that's just my opinion.
- netsharc 9y agoI should google it but I'll just wonder out loud, how would libertarians use money anyway? Doesn't money need something to back it up, i.e. a central bank?
- MBCook 9y agoLibertarians still believe in government, I believe the normal solution to this they propose is to move the money back to the gold standard with the gold held by the government issuing the money.