Avik Roy: America Would Be Better Off If Bitcoin Became the World’s Reserve Currency.
Can bitcoin really become the world’s reserve currency if it doesn’t displace the dollar, the euro, or the yuan as an everyday medium of exchange? Why isn’t its price increasing as inflation rises to levels not seen in 40 years? What sorts of regulations—if any—would best facilitate the wide-scale adoption of bitcoin not just among the wealthy but the unbanked of the world?
Avik Roy is the president of the Foundation for Research on Equal Opportunity, a Texas-based think tank that focuses on economic growth and mobility. He says that bitcoin improves on the ability of gold as a non-state-backed store of value and has shown itself to be effectively uncensorable—qualities that will allow it to act as a game-changing r
Article from Reason.com