It all comes down to this:
There is NO justification for a state monopoly on the creation and use of multiple mediums of exchange. If government money faced more competition then probably (as with many market effects) we would see a monetary medium that better fulfilled the needs of its people.
Governments are slowly facing more competition due to the fact that cryptos are not under their power. Let's see how long it will take for them to create their own cryptos.
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I think best is if government money freely competes with private money like Bitcoin. I am sure there are many many people who would not use Bitcoin because they trust their governments to have their interests.
There is a growing amount of people who think the gov't is neither capable nor willing to set the best path for its people. Now the challenge is connecting people who believe this so that we can alternative mediums of exchange between free people around the world.
MAN I am excited!
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seen because of reesteem by @kafkanarchy84
upvoted because of relevance. tyfys.
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Thank you and thank you @kafkanarchy84. Truly a choice in currency is exactly what the doctor ordered.
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Paging Dr. Satoshi. You're needed in the OR for an emergency fiatectomy.
:)
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Money or if we can call it 'medium' of exchange, never saw a natural evolution. The birth of modern money in an artificial aberration.
What should have happened was that the 'money' needed to evolve on its own and the process of this evolution should have been directly incubated by the people. If they allow this to happen now (like its happening with crypto), the modern fiat would actually go 'extinct' without being ever able to challenge it's natural sibling on its own merit.
The best way of saying this is that let the 'money' and the 'natural money' duke it out on their own and we'll see who wins.
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Yes exactly. "money" within a community is just a way of recording transactions. The cultural artifact really need be no more complex than a ledger.
Have you read The Public Bank Solution by Ellen Brown?
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I havn't read the book and just searched for the reviews online after you mentioned it.
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Can continous rise in price level of goods and services in market structure be totally eradicated ?
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Most cryptos are measured against BTC unfortunately. BTC is not only a unit of comparative measure, but also a measure of the vested interest in crypto "scene" at that point in time
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How to cryptocurrency to stop inflation?
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