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March 12, 2014, 08:43:28 AM |
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Bitcoin is the Rearden Metal of Atlas Shrugged.
It is a provably superior alternative to the current currency but there is such a huge industry built around the old currency that it is attacked by all aspects of the currency industry from Keynesian professors to central banks to government agencies.
Just like with Rearden Metal the special committee of the National Council of Metal Industries came out with reports talking about how unsafe it was. They could not provide any proof but they had several warnings against it.
"They said Rearden Metal is a threat to public safety. They said its chemical composition is unsound, it's brittle, it's decomposing molecularly, and it will crack suddenly without warning [.....] They're experts, though, the men on that committee. Top experts. Chief metallurgists for the biggest corporations, with a string of degrees from universities all over the country."
“People think that a liar gains a victory over his victim. What I've learned is that a lie is an act of self-abdication, because one surrenders one's reality to the person to whom one lies, making that person one's master, condemning oneself from then on to faking the sort of reality that person's view requires to be faked.”
— Hank Rearden
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