BryanCaplan

They'd quickly get a lot richer, and we'd get some very nice vacations. In the longer run, the chance that Communism in Cuba would collapse or collapse into mere rhetoric is high.

Not really. Most dominant powers throughout history have been far more aggressive. The U.S. today is scared to lose a few thousand soldiers. Why? Because rich people value their livess. Thankfully!

"The Magic of Education," "Tough Luck," "The Common-Sense Case for Pacifism," "The Tiger Mother versus Cost-Benefit Analysis," and "Tell Me the Difference Between Jim Crow and Immigration Restrictions."

As a replacement for the status quo, maybe. As an addition, no.

Libertarians like it because they think it will be a replacement. Socialists like it because they think it will be an addition.

It's done 10x better than I expected, but I still don't expect it to be more than a niche financial instrument. It's long been noted that people around the world continue using their national currencies even in the face of 20 or 30% inflation because national currencies are more convenient and focal. Also, I expect regulators to crack down if Bitcoin becomes much of a threat.

But hopefully I'm wrong!