In yet another example of how cryptocurrency is really going mainstream, the CATO Institute has published an article on this topic. Not only that, it is actually a response piece written against writing by historian Harold James of Princeton University. James wrote, “The Bitcoin Threat” which was a negative (and often inaccurate) piece that got a lot about Bitcoin.
This prompted Lawrence H. White of the CATO Institute to respond, providing some valuable insights regarding not just what Bitcoin is today, but its historical context and other useful information. One of the most important points that was made was concerning the fact that Bitcoin is not issued by any government.
The piece written by James suggested that government issued currencies have historically helped to provide a basis for trust that was used in both private and public interactions. While this may be true, there have also been quite a few examples of privately issued currencies that have done the same thing. To think that a currency needs to be issued by a centralized authority is to be ignorant of history, and more importantly, blind to the many ways the current cryptocurrency revolution is impacting the world.
This article is a very interesting read, and will also help those interested in crypto to be able to better defend their position. Click HERE to read the article from CATO.
