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Bitcoin, Fake News, and the Illusion of Money

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Bitcoin’s value is an illusion of money. But so is all governmental money, all central-bank money. All governments always knew that the value of money is an illusion: they could just not fathom a day would come when they would no longer be in complete control of that illusion.

In the 1980s, there were European governments who seriously considered outlawing cable and satellite television. The reason, or at least the reason as stated, was that these information channels “could not have a guaranteed level of quality” – put differently, the narrative told in those channels was not under governmental control, unlike in the the existing TV channels. Yes: Europe has governmental television channels, pretty much every single European country has one or two of them. You’ve probably heard of the British BBC, as one example. Formally, they’re supposed to be independent from government; in reality, it’s in varying degrees of doubt in different countries.

Today’s governments have the idea, not to say the obsession, that they have a responsibility to provide the population with accurate news.

More often than not, this is news as told from the government’s point of view, whether they are aware of that fact or not. We could just as easily rephrase this as the government being obsessed with having its narrative be the dominant one — denying others a microphone and a platform, if you will, while not even being aware that this is happening.

It is with this in mind, that one need to regard the term “fake news”. When governments decry fake news, it is rather uncommonly “objectively false information”; more often, it is “information that hurts our narrative and our position of power”.

To illustrate, there was a contentious trial against Greek statistician Andreas Georgiou that recently concluded with a two-year suspended

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