First off, Happy Easter to you if you celebrate the holiday. If not, happy Sunday to you...
Sometime last week I found the book written by Steve O'Grady called The New Kingmakers: How Developers Conquered the World. It is a new book by RedMonk co-founder Stephen O'Grady chronicling the rise of the developer as the decisive force in the technology industry and sectors beyond. COINcidentally, last week's news included a lot of stories about BitCoin, the decentralized, non-controlled currency. A lot of those stories were driven because of the stuff happening with Cyprus and the EU central banks. I first heard it talked about on the radio then saw articles popping up all over the Interwebs.
Silver and gold as well as other precious metals have long been seen as the truly stable, non-inflationary currency by many. I am not a serious student of Austrian economics, but I'm a fan of Ron Paul and have long wished we would get away from the Keynesian thought about currency and central banking. A lot of people "in my tribe" say gold and silver are the way to go. I agree with them, but why do we say that? For me it comes down to my lack of trust in the central bankers who pump 85 billion of new money into our economy out of thin air each month, thus destroying the value in our savings and salaries that seldom keep up with this inflation. But will gold and silver really stop them from doing that? It didn't stop Rome, who debased their own coins by diluting the purity as new coins were smelted/printed ;)
What would happen if a currency was totally decentralized and no government controlled it's creation? Is this the reality with the P2P BitCoin. Nothing stops a government or a private citizen from putting together a huge number of servers and Mining for coins. I don't totally understand this process, but it intrigues me to think about where we might end up in the future, and all driven from some pretty cool development.
Note: If you wish to discuss this post let's converse on Branch.
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