I think examples of free market transactions between peaceful people using Bitcoin and the Internet, I think it's a wonderful thing. It's going to make the world a better place.
FinCEN directs financial institutions to file suspicious activity reports (SARs) to inform law enforcement of certain types of cyber-enabled crime. As the agency charged with protecting the United States from financial crime, FinCEN's guidance does not deem financial institutions who process such transactions to be involved in a criminal activity.
A currency designed for long-term storage and investment doesn't do so well at encouraging transactions and exchange in the moment.
Scalability is this idea of coming up with a blockchain that can scale much larger than existing chains essentially by processing transactions in parallel. And moving away from this paradigm where every single node on the network has to process every single transaction.
Yes, I am 100% anarchist. Anarchy, to me, is a belief that all transactions, all activity, should be voluntary. It is a peaceful philosophy of not forcing anyone to do anything and not allowing anyone else to force you to do anything.
Remember, 'governance' is a big word that includes human rights, freedom of speech, economic transactions on a worldwide basis - it touches everything. It's everywhere, and that's why Internet governance is Topic A in many corners.
People think about Bitcoin incorrectly. They think about it as currency or about gold or hoarding, speculation, about how much money do you make. When really, what it is is an API for programmable cash transactions.
When you look at the government, when the government collects a buck, it's not free. They have to spend resources, the IRS, audits, all this sort of crap, to collect the dollar. I'm not assuming any Laffer curve effect here at all. There are just transactions costs of collecting that money.
For too long, tricks and traps in mortgages, credit cards, and other financial transactions have stripped wealth from working families.
The dearth of business activity on the traditional day of rest makes Sunday an ideal time to declare insolvency. Bankruptcy petitions are time-stamped to the minute, instantly dividing a failed company's dealings into pre-bankruptcy transactions and post-bankruptcy transactions.
Hardest of all for Europeans to negotiate are traditional African religions, whose transactions with unseen powers are central to the running of life in many areas, the main weapon in the struggle against the forces of evil.
