So....theres a big chance that the world will starting using cryptocurrency instead of paper money?
Oh yea, thats what I called the future.
That's an absolute guarantee. What country wouldn't want a fully traceable and traceable currency they can use to totally control the masses while not having to print and distribute real paper money?
Crypto money and especially the tracking abilities of the blockchain are a wet dream of any government, bank or corporation.
So there is no doubt the planet will switch to crypto money it's just a question of how long it will take and which currency will be the global one.
I think this is a trap for the government and a double-win for the people:
1.) the freedom of economic transaction (bitcoin delivers that, it's censorship-resistant) is important to protect against opressive government or other entities trying to control the flow of money (take the wikileaks blockade as a prominent example)
2.) the use of sound money (especially via the inelastic money supply) forces fiscal prudence on governments. Spending has to be financed by taxes. The use of sound money also has positive effects on the economy because it will greatly reduce misallocations of capital (bailouts and other capital mis-injections) and plundering of the unsuspecting population ("hidden inflation tax")
The People need to take the governement accountable for useless expenses and going into debt with the children and unborn accountable.
Investing in infrastructures or eduction can be bad if it is badly done and they spent too much. Most people will still be in favor of any money pour to education.
