Re:Facebook, Libra, and the Long Game
by mntmoss on Tuesday June 25, 2019 @05:36PM
(#20279226)
With Bitcoin, there are certain elements that make it desirable as a bargaining chip during internal power struggles. The claim of banking and government being joined at the hip is true due to pragmatic convenience: If you want to have power over things like militaries and social services, you need a solution for financing and that sends you into the arms of the bankers. But if you start having an option to opt out, to say as a large institution, "we don't need you," then the banks have to start to compete.
At the end of that struggle, you still have a government in control of its financing, but the shape of it, borne through so many battles, is likely to be more efficient.
At the end of that struggle, you still have a government in control of its financing, but the shape of it, borne through so many battles, is likely to be more efficient.