John Maynard Keynes once stated that "gold is a barbarous relic". He much preferred currency that was controlled by a small group of bearded men in secretive boardrooms who "managed" paper money that was ordered by law (force) to be used by the citizens of a geographical region.
Whether or not you agree with Keynes (I certainly don't) what you do have to admit is that Bitcoin is making the Federal Reserve Note (FRN), a.k.a. the US dollar, look like a barbarous relic today.
The state and its physical manifestation of government are themselves barbarous relics in that they are truly holdovers from mankind's barbaric past. And the tools they use -- like paper news sources and paper money -- are so archaic it's embarrassing. The digital world is where freedom is blossoming and digital, decentralized currency, particularly Bitcoin which is the first of its kind, is on the cutting edge of both this progress and this liberty.
Over the weekend, the price of Bitcoin reached $900, before correcting all the way to about $500. Overnight, the price climbed back up to $600.
People contest the dynamism of Bitcoin, and protest that this volatility is one reason why they ought to stay away from Bitcoin. And, in a way, they are right. The technical know-how needed to use Bitcoin very well might mean it is not ready for mainstream consumption.
But, when it is ready in 2-3 years, as today's kids, who have grown up in a sea of digitality, are attracted to the decentralized crypto-currency, the price of Bitcon might already be $10,000 or more. Where could it possibly go thereafter? Full story...
Related posts:
Whether or not you agree with Keynes (I certainly don't) what you do have to admit is that Bitcoin is making the Federal Reserve Note (FRN), a.k.a. the US dollar, look like a barbarous relic today.
The state and its physical manifestation of government are themselves barbarous relics in that they are truly holdovers from mankind's barbaric past. And the tools they use -- like paper news sources and paper money -- are so archaic it's embarrassing. The digital world is where freedom is blossoming and digital, decentralized currency, particularly Bitcoin which is the first of its kind, is on the cutting edge of both this progress and this liberty.
Over the weekend, the price of Bitcoin reached $900, before correcting all the way to about $500. Overnight, the price climbed back up to $600.
People contest the dynamism of Bitcoin, and protest that this volatility is one reason why they ought to stay away from Bitcoin. And, in a way, they are right. The technical know-how needed to use Bitcoin very well might mean it is not ready for mainstream consumption.
But, when it is ready in 2-3 years, as today's kids, who have grown up in a sea of digitality, are attracted to the decentralized crypto-currency, the price of Bitcon might already be $10,000 or more. Where could it possibly go thereafter? Full story...
Related posts:
- Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k...
- Bitcoins banned in Thailand...
- 'Bitcoin bomb may blow up banks' bondage, hence US attacks'
- US seizes top Bitcoin exchange as crackdown begins...
- Bitcoin world's fastest growing currency migrates off the internet...
- Even if it crashes, Bitcoin may make a dent in the financial world...
- Texas family: We sold this Porsche last night for 300 bitcoins...
- Digital 'bitcoin' currency surpasses 20 national currencies in value...
No comments:
Post a Comment