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I agree with you that Bitcoins can open markets because they can eliminate the friction of making payments when two parties live in different political regions
by mckoss 14y ago
I agree with you that Bitcoins can open markets because they can eliminate the friction of making payments when two parties live in different political regions that do not currently trade easily.
This is a good thing for individual liberty and self determination.
But I would disagree when you propose that the only solution is to prevent the most efficient producers of a good or service from selling as much as they can into their market.
I rather put my hopes on open access and competition; both of which are enhanced by a means of exchange that does not require the friction of a trusted intermediary.
- rushabh 14y agoI agree it's a hard problem. How do you rebalance without encroaching on individual liberty? The producers will need to eventually agree that this system is not sustainable in the long run and adapt. The initiative lies with them.