Government key arguments for preventing Bitcoin from being a legal currency:

1. How will government protect society (fund the military) without being able to print cash?

2. How will government smooth out recessions and exuberance without ability to adjust interest rates or print cash?

Arguments for Bitcoin:

1. If there is no will bet the people, governments should not be able to find war/military. If the reason is justified, people will lend the government the funds and join the military.

2. Smoothing out market turbulence actually delays needed adjustment ensuring inefficiency that can have lasting negative impacts on society. US President Warren G Harding was a free market advocate and oversaw the forgotten 1920-21 depression because it was short and did not intervene meaningfully - the right approach.

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