Ask anybody who's tried minting their own stable-resource-backed money, like the banks used to do in the good/bad old days.
Uh-huh. Back in the late counter-culture/commune days (1969-1975) it was tried fairly often. I had...um...a friend
...who was involved with some folks who made a very serious attempt at doing just that.
The only result was a rather sharp lesson in realpolitik
, the mind-bogglingly awesome power of government, and what sort of response you can expect from 'authority challenged.'
That's when I lost my girlish laughter and romantic illusions about social activism. Bringing about social change is not a polite parlor game. It's a tough, often ugly, and very very real
struggle at the best of times. And when it succeeds, it invariably comes with a pretty steep price tag attached.
That hasn't stopped me from still getting involved from time to time. But when I do, I no longer have any illusions about the other side playing fair or being constrained either by its own laws or constitutional limits
. When sufficiently questioned and challenged, virtually every government goes into "wounded rhino" mode and viciously attacks everything in sight.
That's why I thought that the bitcoin revolutionaries and Libertarians had no idea of what they were getting themselves into if they planned on pursuing a "pirate" agenda when it came to money. Anything which might destabilize national currencies simply won't be tolerated. Period.
When I first heard of BitCoins, I said to myself that this was eventually going to happen.
It always does...
learned first hand some years ago.