The Crypto Adoption Must be Voluntary
A Peer-to-Peer Electronic Cash System , is thus Satoshi Nakamoto conceived Bitcoin, on October 31, 2008.
Many celebrate when Bitcoin is regulated in some countries as a legal purpose, or accepted as a means of payment, in El Salvador, for example, as the Great News.
I detest it.
We do not need the permission of governments to choose our money. We are giving them the power that Satoshi Nakamoto wanted to take from them to give it to us.
The vast majority of people are educated in schools with official government instruction programs, and of course they accept that money must be issued and controlled by the State, or rather, by the Turn Politicians who temporarily administer the Government .
This monetary management affects the entire population, and gives it a huge power to the government.
According to Bitcoin’s enthusiasts, Bitcoin’s launch was made to create an equitable monetary system. But, for critics, Bitcoin plays an important role in financing different criminal activities, which is the perfect excuse for regulators.
A state without money has no power, disappears.
The money is the good most demanded in the economy, and for this it must be accepted by all. The difference is that if it is voluntary or is imposed by law, at pistol tip.
Do We Trust Bitcoin as Money?
Bitcoin’s foundation is not known by all. Bitcoin did not come out of nowhere.
The idea of digital money has a long history. In particular, a collective known as the cypherpunks wrote long and laying on digital money, its use anonymously, the way these systems could be carried out and the social implications of cryptography in general.
Cryptography allows two people to exchange messages, and negotiate electronic contracts, never knowing the authentic name, or legal identity, of the other.
Cryptocurrencies have varied positive qualities to become currency. Moreover, they have many better qualities than fiduciary money, state money issued based on debt.
Cryptocurrencies are private and people voluntarily choose them, fiduciary money is obligatory.
All private money has arisen as a result of the process of human action, whose social learning process inevitably needs time. All the goods that became money (cattle, skins, wool, salt, tobacco, gold, silver, etc.) achieved it after millions of people, spontaneously interacting in free market.
Blockchain-based cryptocurrencies will only be if they are massively chosen as such by all public. That is, if they become the well most demanded spontaneously by the public.
Interactions on networks will be less and less traceable, thanks to the extended use of re-routing encrypted packets that implement cryptographic protocols.
“… Privacy in an open society requires anonymous transaction systems. So far, cash has been the main system of this type. A system of anonymous transactions is not a system of secret transactions. An anonymous system allows individuals to reveal their identity when they wish, and only when they wish; This is the essence of privacy …” (The Crypto Anarchist manifest).
Reputations will have a crucial, much more important importance in dealings than today’s credit ratings. These progress will completely alter the nature of government regulation, the ability to tax and control economic interactions, the ability to maintain secret information, and even alter the nature of trust and reputation.
And the cryptocurrencies fit perfectly in this scheme of cryptoanarchy.
Anarchy is not chaos, as taught us in state instruction, but it is the lack of a central authority to impose laws. Anarchy is the relationship, and association, with voluntary contracts between peers.
The central bank of a country is the financial arm of the State and is who designs monetary policies, since they have the absolute authority to regulate the use of money. With the help of the intermediation of commercial banks, the government regulates all the flow of money in an economy.
In most cases, governments have controls for capital. Therefore, they use different forms and methods to avoid the output of coins, and this is another form of control that governments have if they handle the emission and regulation of money.
One of these controls is in the capital market market, the stock exchange where the actions of the most important private management companies are traded.
Creating traditional financial instruments, such as ETF and Bitcoin futures, implies weakening the idea of Satoshi Nakamoto, as it manipulates the price, prints volatility, and destroys the properties of unit of measurement, which needs good to become money. It is an action delivered by the establishment that feels threatened by Bitcoin.
It depends on us the success of Bitcoin and in general, the ecosystem of the cryptoeconomy.
It is important to understand that Bitcoin transfers power, from political power to social power, that of people, and thus undermine government authority.
Separating the money from the State has the same impact as it had it in modern democracies, separate the church from the State.
A state without the handling of money loses one of the three pillars of power, the other two are taxes and public indebtedness.
The powers change, and perhaps the New World Order, of which the elitists speak so much, in some future anarchist.