Editor’s Pick. Written by Thomas L. Knapp.
It’s up, it’s down. It’s the future of commerce one day, just another Internet bubble the next. It’s the end of government-controlled currency and banking … but wait, the US government’s Financial Crimes Enforcement Network has something to say about that. It’s Bitcoin, and you’ve almost certainly been hearing about it, even if you’ve never used it.
As an anarchist, I’m a big fan of competing currencies, especially competing freed-market currencies not issued by, or subject to direct manipulation by, states. The reasons for that should be obvious: If government can’t supervise and control the flow of money, it gets a lot harder for it to steal (“tax”) part of that money and spend it on killing and enslaving people. So Bitcoin made quite an impression on me, and I’m still sold on it.