This quote, often attributed to Friedrich Hayek, perfectly captures the essence of Bitcoin’s emergence. It highlights the idea that truly sound money cannot come from governments, as they have incentives to debase it. Instead, sound money must arise organically, through innovation and voluntary adoption, rather than through direct confrontation with the state.
Bitcoin fits this vision remarkably well. It wasn’t imposed by force but introduced quietly as an unstoppable, decentralized alternative. Governments may try to regulate it or else but, as a distributed network, Bitcoin operates beyond their reach. In a way, Hayek’s “sly, roundabout way” has already begun.
