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He doesn't really dig into what he means by apolitical, and what bitcoiners mean by apolitical. One of the big risks with fiat currency is that your government
by sjducb 3y ago
He doesn't really dig into what he means by apolitical, and what bitcoiners mean by apolitical.
One of the big risks with fiat currency is that your government might do "something stupid" or "something corrupt" with monetary policy and cause the fiat currency to crash in value.
The most popular cryptocurrency (Bitcoin) has a monetary policy that's set in stone. You're protected from an incompetent / corrupt government who either accidentally or deliberately break the money supply.
That's what bitcoiners mean by apolitical.
The article then goes on to point out how the monetary policy of bitcoin is not very good monetary policy. He's right when he says this, but you can only have good monetary policy if you've got a competent government. A lot of people don't have a competent government.
- kevingadd 3y agoIs the bitcoin "government"-equivalent competent? My impression is that it's not, because Satoshi basically left control of the software & network (and thus currency) in the hands of a bunch of randos of questionable competence. The result was all the infighting over stuff like block size changes. It hasn't collapsed at least...
- Ferret7446 3y agoThe bitcoin "government" is truly democratic by compute. Infighting is good (for now) because it creates stability (which is arguably the same reason why democratic/representative governments are good in general).
- wmf 3y agoThe idea is that no governance is required because the rules will never change. That has mostly held so far but it will be interesting to see what happens long term.
- seydor 3y agobitcoin is not apolitical. libertarians like it but it's ultimately a tool for everyone to use as they see fit
- sjducb 3y agoWhen you say apolitical what do you mean?