Wednesday, April 20, 2022

Anarcho-capitalism, come and meet reality

Salvadoran president Bukele
together with Donald Trump

Digital currency was once seen as a tool to create a libertarian utopia. It was supposed to decentralize the world, or whatever. 

Did it? Of course not. 

Palladium magazine has the story of how Bitcoin was taken over by centralized state actors such as Russia or the peculiar administration currently governing El Salvador. Even the Taliban, of all people, have discovered Bitcoin. 

The cryptocurrency is being used to monitor and control the financial transactions of individual citizens, while strengthening the power of nationalist regimes and/or circumvent international sanctions. 

The next logical step is for governments to issue their very own digital currencies, thereby getting complete control of the citizens´ buying and selling... 

Enjoy the ride, LOL-bertarians! 

How Bitcoin strengthens the state


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