How Bitcoin Will End the Nation State – Jeffrey Tucker

As the European banking and currency crisis unfolds, the emerging digital currency has rapidly become a refuge for people fleeing from the euro and seeking to protect their savings and assets from confiscation.

In Cyprus, where thousands of businessmen have seen nearly all of their operating capital siphoned from their accounts, Bitcoin ATMs have suddenly appeared. Investors and businessmen in Spain and other countries that may soon fall prey to the “Cyprus Model” are likewise fleeing to the bitcoin.