Former Director of US Mint: Bitcoin Allows Money to Be Privatized Again

Former Director of the United States Mint Edmund C. Moy was featured on a panel during the recent Bitcoin Investor Conference in Las Vegas, and he shared an unique perspective on bitcoin for someone who was once a government official under the Bush and Obama administrations. Unlike most individuals involved in government who focus on monetary policy, economics, or the creation of fiat currency, Ed Moy enjoys the privatized nature of bitcoin as a potential currency. Moy sees Bitcoin as a technology that could bring back the days of a democratized money that is held in the hands of the people.

Money Used to Be in Private Hands

During Ed Moy’s comments at the Bitcoin Investor Conference, it became clear that he’s a fan of privately-held money. At one point, he described the democratized nature of money thousands of years ago:

“[One] reason why I like cryptocurrencies and where my mind has gone on all this is that when you take a look at our earliest notions of money — money was in private hands. You found electrum, which is basically a mixture of gold and silver in the ground. Sizes were important, and if you just pounded it

Read more ... source: TheBitcoinNews