Governments Persist After Hyperbitcoinization – Bitcoin Magazine


This is an opinion editorial by Will Szamosszegi, founder and CEO of bitcoin mining hosting service Sazmining.

Money and energy are two of the most fundamental aspects of an economy because both are universal. Energy is required to transform raw materials into final consumer goods and services. Money is required to store wealth, calculate revenue and losses and trade for goods and services that you couldn’t acquire through barter.

Although Bitcoin drastically improves humanity’s relationship with both energy and money, the problems that plague both energy and money are likely to survive a Bitcoin standard, even if they become lesser in severity. With respect to energy, government regulations, subsidies and bans will continue to have sway. With respect to money, governments will, in all likelihood, continue to employ second-layer fiat money that citizens are forced to use.

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