Solving the wrong problem: Bitcoin misunderstands money - Livemint
data_society's bookmarks 2018-01-05
"But bitcoiners are solving the wrong problem. Our problem is not the technocratic one of redesigning a phantom called fiat money. Our problem is political: undisciplined capitalism amplified by unipolar geopolitics leading to an undisciplined global credit system. Returning to gold via bitcoins is simply too austere and inflexible for democratic capitalism. It might actually aggravate indiscipline by undermining the state’s ability to balance out capital in the interests of democracy."