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THE BITCOIN BUBBLE - Global Guerrillas - 0 views
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On the bitcoin issue. Governments will be trying to find a way to stop these alternate currencies or discredit them. Its a necessity to them as alternate currencies leave the nation state very vulnerable to "starve the monkey" attacks and lowers the cost of non cooperation for ordinary people. A first salvo by Charles Schumer http://www.techdirt.com/articles/20110605/22322814558/senator-schumer-says-bitcoin-is-money-laundering.shtml The currency monopoly is essentially the basis of the modern state and easy systems that allow opt out, either for smaller areas (Dakota Bits now backed by Gold or Troy Bucks or something ) can happen at a time when a government is bankrupt and basically disable that state. Now it rationally might not be in anyones rational best interest to do this (millions of hungry people can result in a apocalypse) that certainly won't stop anyone.
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