Reason is the planet’s leading source of news, politics, and culture from a libertarian perspective. Caitlin Long of Symbiont sits down with Reason’s Nick Gillespie to discuss how blockchain technology can make the financial system more transparent.
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After writing “Why are People, Businesses, and Countries Adopting Bitcoin?” I came across this article. It shows the relative size of different asset/market classes. If you notice how small cryptocurrencies are as compared to gold for instance you will see the potential for growth. One other note, silver may also be a good investment/safe haven […]
By Greg Mathers
October 31, 2017
Many people are now realizing the debt of their respective countries is not sustainable. They are looking at the options their countries have, and what rules the powers that shouldn’t be (TPTSB) would impose, because of previously bad decisions they, TPTSB, have made. Most countries have only two options, print more money to pay their debts, or default on their debts.
The first is really a slower version of the second since when a country prints more money and then they pay their creditors with that currency it has the effect of making the currency worth less. That is to say any time you have an abundance of an item it’s value tends to be less than a similar item that is scarce. That is called “monetizing the debt” and has the effect of devaluing the currency for everyone that is using that currency, that is called inflation. It is really a way a country can tax their citizens without most of them realizing what is happening.
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One of the most durable claims of cryptocurrency skeptics is that “governments will ban bitcoin once it threatens their fiat currency or their control.” Ben Bernanke recently gave voice to this claim as if it was received wisdom.
Sorry, crypto-skeptics: Japan just killed the “bitcoin will be banned” meme. Japan has established itself as the safe haven of all legit cryptocurrencies and cryptocurrency exchanges. Japan is not just the world’s third largest economy; it is a keystone of the global economy in supply chains, ownership of overseas assets, capital flows and technology. Japan’s embrace of cryptocurrencies suggests the Japanese understand that adoption of crypto and blockchain technology offers whatever nation is firstest with the mostest in legal protection of these technologies will have a powerful competitive advantage.
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