“What we’ve got is a monetary system that lacks the real old-time value of gold. And it lacks the real new-time value of simple, low-cost Internet-based information exchange. We can receive an electronic copy of War and Peace online at virtually no transaction cost. But if we want to pay for it, we must pay fees to zombie banks and credit card companies (and inform the NSA of our reading habits). Digital money is the biggest innovation in currency in 6,000 years. Modern technology opens this universe up to us – exposing thousands of monetary galaxies and currency solar systems. Surely, we will find at least one planet hospitable to human commerce.”
http://www.bonnerandpartners.com/bitcoin-2-0/
Related posts:
Bill Bonner: The Fed’s Childishly Naïve Theory of Credit
No Containment in U.S. Health Costs
Why a single mom is better off with a $29,000 job than a $69,000 job
Could You Be Arrested For Offering A Lyft?
The Latest Bubble to Pop: Mortgage Refinancings
The Taper Caper
How To Diversify Your Life
Murray Rothbard: Fighting for Oil? [1990]
Charting Insolvency: Social Security and Wages
The Endgame of State/Local Government Pensions
Manipulation of the Gold Price
All the Value of Gold in the Palm of Your Hand
"Homelanders" To U.S. Expatriates: Don't Come Back... Ever
It Won't Stay in Vegas: The Metro PD's Homeland Security Theater
The Problem With Altcoins
