As cryptocurrencies soar (Coinbase has gone down again!), I have become very intrigued with some of the original ideas that early cryptocurrency proponents had.
One of these was that cryptocurrencies can help to end wars. Wars need money. States can tax to raise money, but during war times, they also control money itself by printing more money, effectively taking money from the citizens to fund wars. Wars used to end because states ran out of money, but with the rise of central banking, there was a lot more money that could be seized for wars.
A corrupt regime can also print money to fund all sorts of corrupt schemes, leading to hyperinflation.
Cryptocurrencies, by providing almost complete individual control over one’s money, ends this vicious cycle of events.
Another reason to celebrate the rise of cryptocurrencies - fostering world peace!
