originally posted by: RomeByFire
I personally don't think we live in a free-market as much as we live in a democracy, versus a plutocracy or oligarchy.
If we truly have a free-market, wouldn't that prevent such measures as bailouts? The company/bank/etc would collapse, yes?
Yes, there is a free market. It is called "the Dark Net"
and it has been made possible by the technology of
TOR and Bitcoin.
Bitcoin's developer Satoshi Nakamoto has in the past explained some of the advantages of the digital currency: "The central bank must be trusted not
to debase the currency, but the history of fiat currencies is full of breaches of that trust…Bitcoin’s solution is to use a peer-to-peer network
to check for double-spending…the result is a distributed system with no single point of failure."
If you’re one of those people that live in fear that a government might do something to debase the value of the currency in which you’re paid—by
printing new money, or defaulting on debt, or igniting inflation—then Bitcoin offers shelter in the storm. Yes, modern central banks conjure new
money out of thin air. And, yes, inflation has eroded the value of the dollar over time. You’d need $23 in today’s dollars to purchase the same
amount of goods and services that $1 could get you in 1913. While dollars lose value over time, Bitcoin will continue to increase in value because it
has a limited supply.
The main appeal of Bitcoin is that there is no central authority
governing nor manipulating it. It operates across borders and across political
divides. It does not need to be printed and no one needs to guard it because it is collectively built, collectively maintained and transactions are
monitored across the entire Bitcoin world. The lack of a central authority reduces any faction of politics from seeping onto the true exchange of
goods and services. The currency is a true free market tool of commerce and not a tool of politics and ideology.
This FREE MARKET is made possible by the confluence of technology and advances in mathematics which make a TRUSTLESS system possible and removed the
need for any middle-man like a bank or government. How does a paperless currency that has no central authority and no enforcement body prevent fraud
while allowing anonymity? Simple, it uses advanced cryptography.
There are a lot of misconceptions about the digital currency being plastered all over the internet these days. Several major media outlets have
covered this developing currency, but they aren’t explaining its fundamentals nor practicality properly. In fact, most mainstream media outlets are
deeming the digital currency as somewhat of a joke – a fad if you will. I can assure you though, Bitcoin is no joke, and it has made early adopters
fortunes in recent years.
Bitcoin, in my opinion, is a compelling example of free market innovation and if adopted on a large scale, could open up markets to entrepreneurs like
never before. Simply put, since 2009 there has been no asset class on the planet which has increased in value more than Bitcoin.
- Bitcoin Prevents Monetary Tyranny
- Bitcoin Will End The Nation State