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Bitcoin isn't "private". It's probably the most open and public money that has ever existed. There's no company behind it, no CEO, no marketing team... it's j
by Quindecillion 5y ago
Bitcoin isn't "private".
It's probably the most open and public money that has ever existed.
There's no company behind it, no CEO, no marketing team... it's just a protocol for a p2p network.
All the other "cryptos"? Sure, regulate them to death. I don't care. Good luck doing that with Bitcoin though.
- stefanve 5y agothe technology is not private, but the coin ownership is. As there is no government institution that can print/create coins and use that as to control inflation, adjust for GDP etc. and set rules on how the newly create money should be used. This leaves supply of coins in the market to people or private institutions that have a lot of them and thus money supply is privatised. And yes banks are private but the money supply is ultimately controlled by the Fed and thus the democratic system is responsible for the money supplies as it appoints the governing body. the p2p network is free to all, just like handing cash money is free to all. Individual freedom is not the same thing as democracy, to much individual freedom is ultimately anti democratic. Because this will always favour the rich and powerful.