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Indeed. By allowing the price of energy to settle very quickly online, Bitcoin ultimately makes it hard for world governments to keep accumulating debt to fund
by kayamon 5y ago
Indeed. By allowing the price of energy to settle very quickly online, Bitcoin ultimately makes it hard for world governments to keep accumulating debt to fund their wars in foreign countries. As long as the price of assets can be settled truthfully online faster than the liars can spread their propaganda, the system should work. As long as honest nodes control the CPU power, the economy remains provably secure.
Just to be clear, because it seems some people still don't have any idea this stuff: Bitcoin invented a viral, self-healing economy. It's an algorithm to replace capitalism with a new economy against its will. It's possibly one of the cleverest things since the Manhattan Project. It just really annoys me that everyone on HN seems to think it's designed for trading pogs or something.