TD₿: The Separation of Money and State by Allen Farrington
TL;DR Bitcoin will make it so smaller market participants will no longer be politically and economically disadvantaged compared to larger ones.
Hey Bitcoiners,
There’s a common phrase in Bitcoin, “Come for the money, stay for the revolution.”
Many of us were initially attracted to Bitcoin because we saw an investment opportunity for us to get richer in fiat. But as we continued to learn about all the problems associated with fiat currencies and central banks, our reasons for buying Bitcoin changed from one of personal enrichment to societal improvement.
Bitcoin is a game-changing idea because for the first time in history we have a technology that separates money from the State. It represents a monumental shift in monetary power from governments and central banks to individuals running nodes.
The consequences of this shift are far and wide, but one result of this change is it will return us to a free market that will reward those who provide real value to the world instead of rewarding those who have grown too big and politically connected to fail.
The fiat system rewards those who are larger, prevents creative destruction from occurring, and creates a more interconnected and systemically fragile economy.
Allen Farrington wrote on this topic in an article titled The Separation of Money and State (01/21/2022).
When there’s no cost to creating new fiat money, political power can be bought by companies at any cost to maintain their advantage over smaller, less connected competitors.
Bitcoin breaks this dynamic by returning a cost to money and leveling the playing field for all.
Tick tock next block,
Cory Klippsten
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“Bitcoin will give us the benefits of globalisation, and the benefits of localism.” - Stephan Livera, Host of the Stephan Livera Podcast and Managing Director of Swan International
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