Post
Topic
Board Economics
Re: Money Is Political, Not Technical
by
deisik
on 27/09/2019, 21:03:59 UTC
That money is a political and not a technical problem is a truism

I don't quite understand what you mean by this. Care to explain in greater detail?

This is where the problem arises for bitcoin, as money is completely political they are not able to keep the technical money under their control. With bitcoin too there is political play, but these were very low compared to what the political play takes place with the fiat currencies

Bitcoin is indeed no less political

Just recall all the bickering, scheming and infighting around activating SegWit in 2017 which ultimately led to a Bitcoin fork into, well, just Bitcoin and Bitcoin Cash. Wasn't that political or was it less political than with "regular" money? To me, things followed the regular pattern revealed in such matters

Moreover, if Bitcoin expands, it will be even more politically colored as is the case with anything having some value and concerning interests of different groups of people. Conceptually, it is not about the thing itself (Bitcoin or otherwise) but rather about the people and their interests involved

Different countries have different economic policies, different practices in printing of money. We cannot say the same takes place perfectly. When it comes to bitcoin government can't make any modification, which makes it tough and this is the prime reason for few countries to oppose bitcoin usage

Rest assured they will find a way to overcome this obstacle (if it becomes worth it)