In short, the altcoin phenomenon is the product of greed and bounded rationality.
The future of The Mises Circle seems clear, to be a progenitor of the next wave of radical, uncompromising Austrians. The bent will be technological rather than historical, and digital rather than physical.
Once it was known that bitcoin could be sold, even for a pittance, new possibilities opened up.
Proof-of-work should not be seen as a mysterious or wasteful system, but as something functional, natural, and potentially of value for the design of any communication protocol.
Stay one step ahead of the government and don’t get embroiled in politics.
If Bitcoin becomes money, the government’s control of money will have ended.
Public-key cryptography is the greatest tool of liberty ever devised.