The Next Web catches up with Stefan Molyneux to discuss Bitcoin and other cryptocurrencies and their impact on government and society:
TNW: To what extent will Bitcoin and other cryptocurrencies even things out, taking power back from governmental bodies?
SM: One of the most important aspects of cryptocurrencies is the degree to which they deny inter-generational debt, deficit-financing, and the easy money required for imperialism and war.
As a species, we generally consider ourselves to be very considerate and thoughtful towards the young. Unfortunately, that does not find reflection in our governmental policies, which burden the unborn with staggering debt, none of which would be possible with cryptocurrencies.
The power of the state to create money out of thin air, control interest rates, and pretend that it is providing value to the population, when it is merely debasing their currencies and lowering them into a chasm of debt, will face a serious challenge from Bitcoin and other cryptocurrencies.