RE: Erik Voorhees on "Is Bitcoin the Future of Money?"
Peter Schiff had nothing new to say ... all the time same content. I would like to share my understanding on this that we all have seen analog world where we deal with physical money and it moved at a speed which is directly proportional to speed of human. Next came the digital world where money transaction were faster and farther but there are gatekeeper institutions which control & regulate money as per the direction of government.
We are about to enter in a new phase of currency/money i.e. Cryptocurrency which is combination of the software vis.a.viz currency. By this way money becomes more than just a static unit of value within any country boundary and this is also not at the mercy of gatekeeper institutions or government for security. In this new era there would not be any intervention from human being or any gatekeeper institution. Bitcoin is the first step of this evolution. Bitcoin is just not a digital money rather its a revolution which is going to democratizes money.
The "gatekeeper institutions" and the governments are working hand in hand and they always have done, this is evident in the fact that various governments and banking institutions have bailed each other out over the years, so the very last thing they want to see is a currency in which they can't intervene, (think quantitative easing) governments feel the need to be in control of everyone, they don't want anything that they can't be in control of, it wouldn't surprise me if the crypto's that are backed by these institutions were the only crypto's that are endorsed by governments in the future.
sir give me some sbd