I’ve said previously that I think all financial speculation markets should move to Bitcoin so they stop impacting the value of currencies people actually use for actual Really Real World things. I now take that back.

Stross’ whole post is definitely worth a read, as are all the posts he links to. The tl;dr version is that virtual currencies like Bitcoin (and Litecoin, Peercoin, Dogecoin,Β et cetera) have a political agenda attached, and that agenda is not a pleasant one. Here’s a particularly depression prediction for where our Brave New Bitcoin Future may lead us.

Good plot for a novel, not so much a place I want to end up in.

(On the other hand, China seems to know what the fuck it’s doing. Maybe it’s time to start learning Mandarin…)