Bitcoin and the College Student – An Interview with Students For Liberty

In his article The Libertarian Case for Bitcoin, Alex Mayyasi made a claim that Bitcoin is a currency made for libertarians. The argument goes that even banks expect that we will all be using digital currency sooner or later. This will be a big boon to big governments and the corporations that control them. They will be able to track every transaction, prosecute any perceived wrong doing, and shut down payments to any organization that they disagree with. This is not theoretical: It has already been tried with Wikileaks and others.

Bitcoin offers an alternative to this dystopia. Money will be digital, but it will be decentralized so that governments and corporations will not be able to fundamentally control it; it will be easily and directly transferable so that no third party need be involved, or know, just like cash; and all the Bitcoin in the world could be carried on a thumb drive, a trait which solves the one huge disadvantage of gold