The early bitcoin enthusiasts were trying to solve the problem of money being controlled by governments. Some governments found it laughable, others were just confused. But what if a government really embraced Bitcoin?
People of Iceland recently started an experiment with airdropped auroracoin, designed to counteract the government’s fiscal policy. Icelandic enthusiasts are attempting to bypass macro- and monetary policy. I would argue that there is another more tractable yet enormously valuable problem to solve. (more…)