For the first time in human history, a technology has been created that once and for all divorces money from the state. This separation of money and state is poised to transform the way we think about value and our expectations of government involvement in our financial lives, and may be the largest cultural-political shift since the separation of church and state.
Raising taxes is typically a tough sell, even when the proceeds are expected to be used for domestic goods like public health or education. But citizens will be highly unlikely to accept tax increases for any war that is not purely defensive. For all we know, America’s Middle Eastern adventures of the last two decades may not have occurred had we already been on a Bitcoin standard.
In short, on a Bitcoin standard, creating money out of thin air and handing it out is not a workable business model.
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