“What I think Thiel doesn't get is that Bitcoin changes people's incentives. The power derived from the fiat machine is neutered. The ensuing political system will be an emergent property of the new underlying incentive structure.”
🎯
Common trap those not immersed in Bitcoin make. In fact it’s even common amongst Bitcoiners who do get it, I do it, we all do - it’s difficult to think through second and third order effects and apply those in extrapolated scenarios.
Like let’s take a hypothetical future where Bitcoin goes to $1 Million.
You think it’s gonna be a good idea to have your name out there as a prominent Bitcoiner then with that kind of bounty on your head?
How dumb would you have to be to go to a Bitcoin conference at that point?
The State is no longer going to just leave Bitcoiners in the corner as some weird thing they don’t understand any more - their entire position will be WAY more hostile.
But also - there’s now a few tens of thousands of extremely wealthy anarchist types who REALLY fucking hate the government and status quo institutions with the funding to do all sorts of things that was never possible before. That Statist hostility can now be met in ways the State never had to deal with previously.
More people have joined Bitcoin not because they believe in the principles necessarily but because they’ve seen individuals succeed in many aspects of life, not just financial. Statist narratives are now lost on a much broader swath of society, their grip loosens even further not just because of wealth but because of changes in social leadership and hierarchies.
Point is these things have dynamic effects. As you say these visions could converge, but it’s unlikely they emerge without other effects. Like we see with the Irish beginning to kickoff at immigration or Swedes antagonising Muslims in their country because they reject the Sharia vision.
All this stuff will be chaotic, but chaos can be an opportunity. Particularly if you’re anticipating it and are positioned (this is precisely why the parasite class initiate crises themselves).
We see it coming but we’re not positioned. Yet.
I do think there is a chance that the hostility may be mitigated somewhat by people inside the government adopting bitcoin. Even the most committed statist is concerned with their own self interest.
Watch this space ... For El Salvador 2.0 :)
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