More efforts from tech bros to build Rapture.
Interesting quotes:
it had backing from tech heavyweights such as billionaire Coinbase CEO Brian Armstrong, AngelList co-founder Naval Ravikant, and venture capitalist** Fred Wilson**, a Coinbase board member who sold his shares in the company for $1.8 billion after it went public in 2021.
“Bitcoin, if it wins, completely changes the world, because it changes the ability of centralized states to do what they’ve been doing,” Srinivisan said in a presentation delivered to a Bitcoin conference in Amsterdam in October.
The Bitcoin-based Network State will be based on “internet values” such as “open source” and “peer-to-peer,” Srinivasan has written.
An utopia run on Bitcoin? What could possibly go wrong?
Libertarianism requires its members to engage in due diligence in order to execute their libertarian ideals properly and make the choices that are correct for them.
This, unfortunately, excludes the lower-60% of all Americans, who are so ground down, economically terrorized, and mentally overwhelmed with their daily struggles to survive that they have little to no opportunity to approach any major choice with anything even vaguely in the realm of due diligence. They just don’t have the headspace to do so, and are forced to spend all their available mental efforts on just putting one financial foot in front of the other.
This is why having social support frameworks enforced/provided/funded by the government is so important for so many working-class people - it allows them to put those issues on autopilot, significantly reducing their own cognitive load and allowing them to better process the most important issues in their lives.
Ergo, libertarianism is a wealthy person’s toy. It is something that they can champion, because only they have the economic options and financial freedom to fully and properly engage with it.
Until everyone has vanishingly few catastrophic-level issues on the horizon (like one missed paycheque leading to homelessness, or a sudden illness leading to medical bankruptcy), any attempt to implement libertarianism will only bring mass amounts of misery and destroyed lives to anyone beneath the Parasite Class.
And when you have those kinds of widespread government-provided supports that lift all boats - and not just the megayachts - why bother with libertarianism? We should continue to use what got everyone into that safe state in the first place – socialism.
Remember, the Parasite Class already uses socialism for themselves. It’s called grants and bailouts and subsidies, and allows the Parasite Class to privatize the profits and socialize the losses.
It’s just at a scale that makes it impossible for working-class people to leverage.
This is a feature, not a bug
This is the far right libertarianism, which has essentially become an extremist, authoritarian form of capitalism. In essence, those with immense power tell us that nobody has any right to oversight and regulation over others. Their power becomes insurmountable, and their control over the economy becomes absolute. We live according to the standards they provide, because we have no alternative.
Every system of government becomes corrupted like this when thieves and liars take control. This is not libertarianism, it is simply the flavor of authoritarianism this go 'round.
Real liberterianism comes in many forms, along the left to right spectrum. On the left, there is a belief in redistribution of natural resources to the community. Personally, I believe we should be embracing local cooperatives for food, energy, medical care, and beyond. On the right, there is more allowance for imbalance by embracing business to drive innovation. Those who innovate succeed, and accrue wealth. But a true libertarian should support a near 100% estate tax, which would limit the imbalance, because you should have what you’ve earned for yourself.
The thing that we lost that leads libertarianism to fail, is our sense of community, a sense of humanity. A responsibility when you see your neighbors suffering, to help them. Once the rich went off to live in their ivory towers, they lost sight of the rest of us.
I don’t see how any system could succeed, considering the circumstances.
[Edit] And honestly, we need to stop vilifying entire philosophies because they were previously corrupted. Just because communism was implemented in a manner that oppressed millions, doesn’t mean there is no good to the philosophies behind it and socialism.
We should be borrowing the good from everything, and remembering the bad. A blanket condemnation of failed experiments makes both impossible. No singular philosophy will be effective in this imperfect world, only in theory is that level of refinement possible.