: Ultimate Libertarian currency system?

Jul 11th, 2010, 06:20 PM
I'm curious as to the impressions fellow ehMaccians may have of this (http://en.wikipedia.org/wiki/Bitcoin) non-governmental currency system.

In principle, it seems to have solved one of the problems I have always had with extreme Libertarianism, which is that a common currency is important for an efficient economy, and that necessitates a one of the functions of government that to which I've never seen a realistic alternative before.

Jul 11th, 2010, 07:14 PM
A true libertarian system allows currencies to compete with a likely--but not necessary--single winner taking over. Governments tend to kill competitor cash, of which Canada once had plenty. I like the idea of Bitcoin, but not the idea of Bitcoin receiving any form of backing by a government that makes it an "official coin of the realm." It needs to be allowed to compete with other emerging or existing currencies.