Why can only the state ensure the “security” of a currency? The euro crisis and countries like Argentina cast doubt on this. Digital currencies like Bitcoin get by without banks and without state regulation.
This book describes the concept of decentralised, non-governmental money in an easy to understand and illustrative way. The author looks at the Bitcoin payment system from the perspective of the Vienna School of Economics. Their masterminds such as Hayek, Ludwig von Mises or Murray Rothbard criticise the harmful consequences of “money socialism” and plead for a free market economy without state intervention. Bitcoin makes their demand for free market money a reality. And the block chain technology underlying Bitcoin can do much more!
If you are interested in the various economic models and would like to learn more about the Austrian school and its inflow of ideas behind Bitcoin, you will find “Bitcoin Geld ohne Staat” a very good book.
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