As more and more traditional financial institutions adopt bitcoin and are supervised by governments all over the world, people have raised the question whether bitcoin can continue to exist as a truly subversive substitute for the traditional financial system.

Detailed introduction to the anti economics of bitcoin

After all, if the government of Qatar can ban it, and international banking laws such as amld5 can shut down bitcoin friendly companies, how can Satoshi’s revolutionary P2P cash survive without the anti economy of voluntary free trading?

Anti economics and SEK III

Anti economics is the abbreviation of “anti institutional economics”, which refers to any non violent economic activities outside the scope of state authority or ignoring the state.

This concept is mainly popularized by the liberal Samuel Edward konkin III or “SEK III” in the liberal circle. It includes any non violent acts in the free market that run counter to centralized laws and norms.

For example, selling small things such as scattered goods in flea markets is anti economic. They did not declare their income to tax authorities that contributed to war and invasion of privacy, nor did they operate in dark net markets such as the silk road. Paint fences for neighbors and get paid in private. Set up roadside fruit stalls or carpool services without permission. These are all examples of anti economic activities.

Konkin himself defines anti economics as follows:

“Anti economy is the sum of all non aggressive human actions prohibited by the state. Anti economics is the study of anti economy and its practice. Anti economy includes free market, black market,” underground economy “, disobedience of all citizens and society, and all prohibited communication behaviors (sex, race, cross Religion) And the state’s choice to prohibit, control, regulate, levy taxes or levy tariffs at any time and anywhere. Anti economy does not include actions approved by all States (“white market”) and red Market (violence and theft without state approval). “

Qatar bans bitcoin. Who’s next?

As recently reported, the Qatar Financial Center (QFC) regulatory authority has completely prohibited QFC enterprises from carrying out cryptocurrency transactions. EU amld5 regulations also force encryption companies to close down. Top cryptocurrency exchanges are providing sensitive user information to tax authorities such as the Internal Revenue Service (IRS). Countries around the world are developing central bank digital currency (CBDC) to potentially replace paper money and coin fiat currency.

In this case, it is necessary to ask what makes bitcoin different. After all, in a sense, it is just another electronic currency on the blockchain. It is even easier to monitor than paper money and has high traceability.

If bitcoin is only used according to the orders or laws of this or that country, it is asking why everyone should not simply turn to digital assets supported by the state or enterprises.

Supporters of bitcoin may respond: “bitcoin is decentralized, and the state ultimately cannot control it. Companies and governments are centralized.”

The follow-up to this statement should be to confirm whether the person believes that bitcoin’s ability to make the law irrelevant is an advantage. If not, the use of anti economics must be avoided, and it is difficult to see the unique value proposition of the currency.

A country only needs to “ban” bitcoin and cut off feasible trading channels. Those who strictly abide by the established laws will only be left with assets that have been castrated and actually centralized.

The root of bitcoin

Whether people regard Satoshi as a kind of cryptopunk or not, it is undeniable that the root of bitcoin mainly comes from the fact that cryptopunk and anarchist / Liberal circles.

A quick look at the cypherpunk mailing list’s early discussion of e-finance transactions without third party participation can prove this. Just like the research on the concept of digital currency, they are the direct predecessors of bitcoin. Satoshi even cited these concepts in the white paper.

The reason for bitcoin’s success and valuation today lies entirely in its function for unauthorized transactions, which has little to do with imitating the existing monetary system (if any).

Like most cool concepts, a person thinks of some interesting things. At the beginning, several people join them. In order to make the sports develop and grow, they are finally drowned by the dressers. They just want to get relaxed social (in this case, financial) benefits from it, without putting the content that actually gives the value of the concept in the first place. This is ready for the upcoming implosion.

There is no point without free trade

It can be said that if it does not use its number one utility, bitcoin is just the shell of its previous cognition.

On the other hand, if individuals continue to use bitcoin freely with or without permission (understand and carefully consider the risks), it is likely to bring real damage to human economic freedom. In fact, this is already happening.

Privacy enhancing protocols such as cashhuffle and the upcoming cash fusion, as well as non KYC and P2P trading platforms such as, make it more feasible to pursue economic freedom through cryptocurrency than ever before. Private coins such as monero (although usually delisted by large centralized exchanges) are also part of the fight.

However, the main factor is the individual. Individuals who freely trade in non violence are key players; Without this person, bitcoin will be meaningless.

Responsible editor; zl

Leave a Reply

Your email address will not be published. Required fields are marked *