25 The Ability Of Money To Resist Censorship
Here we will talk about the ability for money to be used freely and not have 3rd party control over it. The usefulness of money will be severely hindered if one was not able to spend it when they wanted, or if finality of a transaction would depend upon external factors outside of those involved in the transaction.
|Money Type||Score (5)||Why|
|Debt||4||There are no mechanisms available to any government or individuals to prevent someone recording what they are owed by someone else. However, the enforceability of a debt largely depends upon the influence the owner of the debt has over the one who needs to pay it, or government enforceability of that debt. A debt can be revered or ‘effectively cancelled’ if there is nobody around to enforce it. This is why it received a 4 out of 5, but besides that one issue, its practically impossible to censor a debt.|
|Commodities /Items||5||The upgrade from a debt was to give owner of the debt something they could later exchange to receive the value of the debt. Because this is hand to hand, peer to peer, nothing can stop such a transaction, and by its very nature it is a private exchange.|
|Gold /Silver||5||Just like commodities and items above, there is nothing that can stop someone giving someone else a piece of Gold or Silver in exchange for a good or service, and by it’s very nature it’s private.|
|Fiat||2||Fiat money, or ‘cash’ would normally be just like precious metals and commodities, but because 98+% of money in circulation is not actually in physical form but in digital form, therefore every transaction must go through a third party. This means that any transaction can be revered, cancelled or blocked depending upon the rules and regulations of the government and bank.|
|Bitcoin||5||Bitcoin is the most superior form of money as it relates to its ability to resist censorship. It includes all the above mentioned benefits that commodities and precious metals have, but with the added benefit of being able to do so without having to actually physically meet the person you are transacting with. You can send to any address, at any time, any amount, and there is no known way to stop that transaction from taking place.|
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