I never thought that I would have to say this:
Bitcoin does not magically make Monarchy, Totalitarianism, Representative Democracy, or Corporatism etc. suddenly good options for society.
Bitcoin will not magically save the State.
There will be no benevolent Bitcoin dictatorships.
Bitcoin will not save the West, it will destroy it.
#nostr #bitcoin #magicalthinking #grownostr
There will be BTC Oligarchs, though.
Absolutely, I guess my question is what real power will they have in a BTC world and does it owning BTC keep the “systems men” in check
Bitcoin is a solution to the fiat problem, not a solution to the governance problem.
If it defunds the government's Fiat, it is.
And I hope it will defund different governments more or less evenly. Why?
Because otherwise, if a better government that adopts Bitcoin, it cannot tax people via inflation anymore, while some other, likely worse government still can, to fund the military, isn't there a risk of war, a risk that the governments that accept Bitcoin are invaded by ones that don't?
Invaded by stronger armies because they were able to steal more money, to fund the military, via inflationary tax?
Scary scenario where a better governments lose.
Of course I'd still hope that better governments mean more freedom, innovation, and so better defense technologies, etc. But still...
