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I agree with your thesis on the importance of the invention. More abstract (and international) money and blockchain rules will be huge advances, fully agreed.

I agree with your thesis on the importance of the invention. More abstract (and international) money and blockchain rules will be huge advances, fully agreed. Less corruption, more stability, these things I believe will finally allow us to set systems up to provide resources with efficiency we haven't been able to before and this is huge. Where I get off is is thinking it's some kind of libertarian revolution wresting control from the hands of government. I don't predict that. The way I see it, governments will be in the thick of it. But they (hopefully) will finally have to play by the rules.

sbenitoj 9y ago
They’re definitely already in the thick of it, no doubt about it. But ultimately capital goes where it is treated best, and governments treat capital worse than thieves, they’ll never play by the rules. It’s not going to happen overnight, and it’s going to be a really rocky road, but eventually worldwide governments will not be in control over money anymore. Now that people don’t have to use fiat that is debased on purpose by governments to fund their operations, they will not. It’s not about a libertarian revolution (although I do believe sound money will result in a more libertarian world), it’s about sound money being an order of magnitude more superior to fiat. People in Zimbabwe and the Weimar Republic didn’t stop using debased currency because they were libertarians, they stopped because it was clear their money was becoming worthless and there were superior alternatives. Those are extreme examples where it can happen overnight, it will take longer for less aggressive regimes, but it’s only a matter of time before the same happens to all other fiat.
- mythrwy 9y ago
  Agreed. Over time I do see that happening. An objective international financial system to which nation states acquiesce or are locked out and rapidly decline.

sbenitoj 9y ago

They’re definitely already in the thick of it, no doubt about it. But ultimately capital goes where it is treated best, and governments treat capital worse than thieves, they’ll never play by the rules. It’s not going to happen overnight, and it’s going to be a really rocky road, but eventually worldwide governments will not be in control over money anymore. Now that people don’t have to use fiat that is debased on purpose by governments to fund their operations, they will not. It’s not about a libertarian revolution (although I do believe sound money will result in a more libertarian world), it’s about sound money being an order of magnitude more superior to fiat. People in Zimbabwe and the Weimar Republic didn’t stop using debased currency because they were libertarians, they stopped because it was clear their money was becoming worthless and there were superior alternatives. Those are extreme examples where it can happen overnight, it will take longer for less aggressive regimes, but it’s only a matter of time before the same happens to all other fiat.

mythrwy 9y ago
Agreed. Over time I do see that happening. An objective international financial system to which nation states acquiesce or are locked out and rapidly decline.