Peter Thiel is right: monopolies are more valuable than competition.
Most people are fighting for the same piece of the pie; the truly clever ones create new pieces.
Bitcoin is like that; it doesn't compete with anyone and directly redefines money.
Peter Thiel is right: monopolies are more valuable than competition.
Most people are fighting for the same piece of the pie; the truly clever ones create new pieces.
Bitcoin is like that; it doesn't compete with anyone and directly redefines money.
Monopolies are kept in check by potential competition in the free market. Therein the only long term monopoly is that protected by the government.
Protection by government destroys value (crimps innovation, ideas) that could accrue to society. So is a negative.
