It is official, President Donald Trump and his administration established Bitcoin and a few other cryptocurrencies as strategic reserve digital assets. What was once an idea that was contrarian and treated as an outcast by the establishment is being embraced by them; ironic.
I think back to what Michael Lewis once said in an interview, that once you release your idea, book, invention, etc, you have no control over how others will receive it, interpret it, or do with it. It is a common theme throughout history in how ideas are warped, distorted, and shaped by others for better or worse.
I don’t believe Satoshi Nakamoto ever imagined their creation to turn out like this. Yet, who is to say if they would approve of it or not. It’s difficult to say. I’m of the opinion that a digital asset like Bitcoin is best when it is a separate entity rather than co-opted by the State and financial sector.
While I don’t own Bitcoin, I share many of the same sentiments of the original heritage. There is something to be said of separating money and State in the same way Church and State were wisely separated. He who controls currency yields too much power.
“He who controls the money supply controls the nation.” –James A. Garfield.
Social Scholarly 