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Michael Matulef
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Know Thyself | Everything Voluntary✌️ | Follow the Tao

Although the functions of a regulatory commission are fairly straightforward in theory, in practice its task is far more complex and, in some respects, impossible. Moreover, the political climate in which regulatory commissions operate often leads to policies and results directly the opposite of what was expected by those who created such commissions.

Ideally, a regulatory commission would set prices where they would have been if there were a competitive marketplace. In practice, there is no way to know what those prices would be. Only the actual functioning of a market itself could reveal such prices, with the less efficient firms being eliminated by bankruptcy and only the most efficient surviving, and their lower prices now being the market prices. No outside observers can know what the most efficient ways of operating a given firm or industry are. Indeed, many managements within an industry discover the hard way that what they thought was the most efficient way to do things was not efficient enough to meet the competition, and have ended up losing customers as a result. The most that a regulatory agency can do is accept what appear to be reasonable production costs and allow the monopoly to make what seems to be a reasonable profit over and above such costs.

~ Thomas Sowell

In a hyperbitcoinized society, individuals are sovereign and free from coercive state control. The traditional notion of citizenship, often equated with being taxed livestock by the State, gives way to voluntary associations formed between consenting parties. Therefore, in place of being "owned" by the State, citizens would instead engage in contractual agreements with private entities or organizations acting as their "custodians." These custodians could provide various public goods and services through market mechanisms rather than forced taxation.

In this system, people can choose which custodial entity best aligns with their values and preferences while retaining their autonomy and property rights. This arrangement fosters competition among service providers, leading to innovation, efficiency, and responsiveness to consumer needs. Ultimately, such decentralized governance structures promote individual liberty, economic prosperity, and social cooperation without compromising on essential communal requirements.

Kick off your shoes. Unburden yourself with song. Tell each other tales. Dance around the table. Leave the cleaning up for the morning. Then go outside and look at the stars.

Be the Anarchy you want to see in the world.

Everything Voluntary ✌️

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"The recognition of the insuperable limits to his knowledge ought indeed to teach the student of society a lesson of humility which should guard him against becoming an accomplice in men’s fatal striving to control society..."

— F. A. Hayek

The next phase of Bitcoin adoption will be evident when bitcoiners shift their focus from advocating for self-custody to explaining why you need to trust a custodian.

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Good Morning ☕

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