Jerry Brito on Bitcoin and Escape from Government Control as ‘Monetary Justice’

There
are many reasons why Bitcoin is a revolutionary and disruptive
invention, and its wider adoption promises many benefits for
individuals and the economy. Delivering us from the perceived
unfairness of inflation, however, is not one of them. But even
assuming that Bitcoin could displace the dollar, what we would end
up with is a currency that likely would behave like gold, and gold
doesn’t make for good money–it’s too volatile.

But what Bitcoin has that no other currency has is
censorship-resistance, writes Jerry Brito. Because it is
decentralized and relies on no third parties, Bitcoin has the
ability to bypass capital controls. If you can convert your wealth
into Bitcoin, you can get it out of your government’s reach. That
is revolutionary,and this is Bitcoin’s true contribution to
“monetary justice.”

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