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Government issued currency is always going to be accepted as means of exchange, whereas bitcoin and other cryptocurrencies have no such secure foundation. Why?

There are two ways to influence someone’s behavior: (1) carrot, or (2) stick. People do something because it benefits them, or because it would be painful to not do it. In the case of fiat currencies the mechanism that allows me to be certain that someone will exchange their goods or services for my money is tax, which is enforced by physical threat. …


Alasdair Forsythe

☯ Magician ⚔ Sorcerer ☀ Shaman ☤ Alchemist ♚ Baron of Blackness

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