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While I completely agree with you philosophically, an unbacked, power hungry store of value like bitcoin is not a solution. It's a political problem, let's ris
by jokethrowaway 6y ago
While I completely agree with you philosophically, an unbacked, power hungry store of value like bitcoin is not a solution.
It's a political problem, let's rise and kick the government and central banking out!
David Friedman argues in The Machinery of Freedom to use a currency backed by a set of commodities (wood, iron, etc: a set of resources to stabilise the price).
I don't understand why that's not a solution - probably because it doesn't let governments and banks to profit off people easily.