“Once upon a time human transactions were underpinned by exchange of cows, camels, goats and cowrie shells. Then came metal coins. A gold standard reigned until just half a century ago. It was only in this millennium that credit card penetration achieved depth in India. Change is the only constant on earth. Now we are set for journeys to Mars. As we prepare to work and live in space, we wonder how we will conduct transactions up there. Not in rupees and dollars, surely? So when downloading our first bitcoin, we should take heart from Spock’s advice — For everything, there is a first time. Beam me up, Scotty — beam me up right there.”
(Visited 22 times, 1 visits today)
Related posts:
The Decline of Political Protest
Why the Poles keep coming: The British welfare trap
Revolutionary France’s Road to Hyperinflation
Why Conservatives Accept High Taxes, the Federal Reserve System, and Fiat Money
Obamacare will hurt young people most
The “Zero Hour” Scenario
Jeffrey Tucker: 3 Important Lessons from a Canadian Border Crossing
Jacob Hornberger: Dealing with the Cops
Michael Scheuer: On Syria, Our interventionists ensure America’s luck is running out
Will IRS Find Your Small Foreign Bank Account?
Convenient Illusions: The 12 Regional Federal Reserve Banks
Schedule 7 and the detention of David Miranda
Missing After World War I: The Tomb of the Unknown Civilian
Obamacare and the New Soviet Man
Free Market Healthcare in the Former Eastern Bloc