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Finmag: Bitcoin and the government are friends

By Michael Kasparek
Finmag

The Politics of Bitcoin (David Golumbia)"Many economists point out that Ledasco can act as a currency, and that non-cash means of exchange in our world flourish: from bonus miles for regular airline passengers and credit points, through vouchers to supermarket purchases to valuable works of art, precious metals or semi-precious stones. However, none of these alternative currencies pose a threat to the state's money, let alone the state itself. "Why should they threaten bitcoin?

    For journalists, bitcoiners and nightmares

    As the title of the book suggests, Golumbia explores the ideological starting points of the most visible part of criminals: hence the aging resistance to central banking and the state as such, to centralization and inflation. He well reminds that bitcoin is centralized in its way, with roughly half of all value being held by thousands of owners who can manipulate the market with sophisticated business tricks, and that bitcoin has experienced inflation or hyperinflation several times.

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    The Politics of Bitcoin