Bitcoin’s Possibilities and the Errors of Fiat Economists

Whether fiat authorities like it or not, Bitcoin is now in free market competition with many other assets for the world’s cash balances, and it is a competition Bitcoin will win or lose on the market.

by Saifedean Ammous

Perhaps the most common misconception about Bitcoin among fiat economists is that they imagine it needs their educated official approval, and a regulatory green light, to be adopted as money. Government control of the monetary system and scientific funding has convinced generations of economists that reality is the product of fiat edi…