European Union - you've been Bitcoined!
Greece has recently just told Christine Lagarde's IMF and the EU to f- off - it wants nothing to do with its debt restructuring and this has got all the EU parties walking in circles.
http://www.reuters.com/article/us-eurozone-greece-debt-relief-idUSKBN1880SA
A lot of Greeks are buying BTC, and in my opinion it's about time someone in Greece did, because most countries in the world are run for profit and a profit based economy run on DEBT is just like a "pyramid scheme".
I personally struggle to see the sense in a society where one can only prosper through the suffering of others and the more power/money you have the more suffering you can invariably do. Even socialist countries have had the same greed problems too, so it's not just capitalism that's at fault the problem is CENTRALIZED POWER.
Prepare for decentralization
Now Bitcoin at its very essence is decentralized and this could this be the answer at least for Greece - a start to a better world with no more debt/interest. The only problem I can see is that anonymity could be a double edge sword, and power over the Bitcoin economy could easily be attained by the already rich and powerful, but surely if a whole country adopts Bitcoin then it would become a lot harder i.e. at least it's more expensive to corrupt. A 51% attack on Bitcoin is highly unlikely.
Anyway, I just wondered if anyone else had thought whether this could actually be the start of the end of countries run by commercial law? (the UK, for example, has a legal system that based on admiralty law (the commercial law of the sea) and funnily enough it's often enforced unlawfully).
So what I'm really asking is - could a country like Greece successfully run an economy on BTC and would/could it work? Two fingers to Lagarde and her IMF cronies anyone?
Comments below.
