“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take it violently out of the hands of government, all we can do is by some sly roundabout way introduce something that they can’t stop.” – F.A. Hayek 1984

In the above quote, Hayek is lamenting the loss of gold standard currency in the United States. In 1971 the gold standard was altered to become fiat money by the hand of the Nixon administration.

Funny enough, ever since then, wages have stagnated and productivity has risen. This, at the benefit of a few at the expense of the many. Talk about stacking the odds. For years people all over the world have experienced the economic woes that have come to plague us all since then. But as of 2009, that “sly roundabout way” that Hayek was talking about has become a reality.

Bitcoin, The Great Leveler of the Odds

I am speaking of course about Bitcoin (and by extension, other cryptocurrencies). Never before have we seen in the history of humanity a means of exchange quite like it. The blockchain is slowly but surely, automating away monolithic institutions that have been ubiquitous to many nations for hundreds of years.

But who benefits from holding cryptocurrency then? Definitely not you, according to some financial experts, who have skin in the game of conventional banking and the current state of affairs. They have an interest in keeping you sitting at their poker table. If we are forced to gamble in the Casino of Capital, then we need not sit at this card table in particular. There are other tables with different rules. Ones that are maybe stacked a little better in our favor. What is tricky is th
at the proverbial “house” does not necessarily want you to see such an opportunity.

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