pull down to refresh
2 sats \ 2 replies \ @Solomonsatoshi 14 Sep \ parent \ on: Harvard socialist tries to refute libertarianism and becomes it biggest defender BooksAndArticles
Bitcoin is a monetary system. A p2p payments protocol. A MoE and SoV.
It enables trade and exchange between individuals via a decentralised network.
I like Bitcoin because it provides some healthy competition for the state sponsored fiat monetary monopoly that is largely operated by private bankers. The fiat monetary system has become corrupted- with bankers coming to own and control our governments and misusing fiat debt based capital issuance in parasitic ways that do not compensate for debasement by adding to productivity.
But Bitcoin cannot and will not substitute for all the roles a nation state is required to perform to fulfill the fundamental requirements for a prosperous and secure society and economy.
Bitcoin cannot defend against hostile foreign actors and entities.
Bitcoin does not institute the complex rules and enforcement needed to secure property rights.
Bitcoin does not provision the law and order or economic planning and strategy that are essential to a wealthy and stable economy and society.
There has never been a prosperous and stable society and economy without decent government.
The Libertarian scorn and dismissal of the need for government naively undermines the achievement of it and threatens all citizens with societal and economic chaos and decline.
If you want to be 'free' of government go somewhere where there is none and enjoy - good luck with that and I assume you will not because I assume you are not suicidal or insane...just deluded by Libertarian hype and memes.
Trade is everything. A nation state can't manufacture or use a gun on its own because it has no skills. That means it has to negotiate for that product and service on the market. So right now it trades threats, intimidation, and lies in exchange for the gun. None of that will work if the market has Bitcoin to defend itself.
The state itself is a hostile actor. An armed populace is perfectly capable of defending itself against external invasion without a state. Nevermind how often the state itself enables and encourages foreign invasion. The state just uses this and other memes the way any other gang charges a "protection" fee to a productive person that had no issues operating until the cartel got in his face to demand tribute.
reply
The ability of the state to ensure law and order, property rights and security within and to both defend its territory and resources and project power externally are all crucial to the wealth of nations.
The most powerful wealthy nations amply demonstrate this.
The USD 'petrodollar' SWIFT global monetary hegemony and the extraordinary privilege and wealth it confers upon the USA is a specific contemporary example.
Failed states demonstrate the crippling effect on citizens of of failure of government...
Go live in one if you think the nation state is so unimportant to the wealth, security and opportunity enjoyed by citizens. Please report back on how it goes for you. Good luck!
reply