The Privatization of Money
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This book presents an uncommon thesis: The possibility that governments could choose to allow bitcoin to function freely as a worldwide currency is entirely feasible despite the fact that this development would eliminate a crucial source of revenue for their operations-the inflation tax. Such a scenario may seem incredible. Yet history provides examples where governments relinquished control over entire sectors and chose not to regain it. In this book, we investigate the factors that could lead to such a situation, allowing readers to form their own opinions regarding the likelihood of this oc...
This book presents an uncommon thesis: The possibility that governments could choose to allow bitcoin to function freely as a worldwide currency is entirely feasible despite the fact that this development would eliminate a crucial source of revenue for their operations-the inflation tax. Such a scenario may seem incredible. Yet history provides examples where governments relinquished control over entire sectors and chose not to regain it. In this book, we investigate the factors that could lead to such a situation, allowing readers to form their own opinions regarding the likelihood of this occurrence. I am an optimist. So our approach is that of (1) envisioning a scenario where bitcoin emerges as the global money and (2) discussing the conditions that could lead to this outcome. Then, we can assess the initial indicators suggesting that this scenario is materializing. The more of these early indicators we identify, the greater our confidence that the anticipated trajectory is being followed. The value of this book is that each reader can form their own opinion on the progress on these indicators. However, we make a pretty strong case that IF these indicators happen and continue to happen, then the likelihood that bitcoin becomes world money keeps increasing.