News for hackers. Stuff that matters.
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.

There are no comments on this comment yet.