The global monetary system is at a crossroads. Can Bitcoin play a part in the finances of tomorrow?
The famed economist Fredrick A. Hayek was of the view that the State was not a good enough actor to hold the reins of monetary power. He said:
“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop,”
The “sly roundabout way” was used by Satoshi Nakamoto to introduce the “Peer-to-peer electronic cash system” that was called Bitcoin. The system was implemented as a way to allow people to leave a corrupt banking system that was insidiously robbing them of their wealth over many decades.
That same banking and monetary system persists to this day, and there probably aren’t many who are aware that this fiat-backed, debt-based system is on the brink of collapse.
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