Archive for March 1st, 2013

Bitcoin vs Leviathan

Moldbug’s prediction: Freedom loses (as usual).

The question is this: Which dominates? The malignancy of Leviathan, or its incompetence? How radically can the metastatic cancer-phase State shape reality in conformity to its vision?

Bitcoin — which is essentially an experiment in Austrian monetary theory — provides the model test-bed in which this question can be lucidly decided. Its current rising fortunes only accelerates the decision. If Bitcoin can’t be stopped, Leviathan is exposed as a paper tiger.

The best way to make the bet, of course, is to buy (or short) BTC. Outside in has been too apathetic to put resources behind its hunches yet, but (for the zilch it’s worth) our intuitions run contra Moldbug on the topic. Compared to Cyberspace, where bitcoin is entrenched, the State is weak, unintelligent, uninformed, parochial, poorly designed, and — in each respect — getting ever more so, in both comparative and absolute terms. The truly stupendous idiocy of Leviathan thoroughly swamps its evil, as is demonstrated every time it tries to get something done.

The digital Outside, in contrast, is already far beyond recall. The germ of a free economy is under construction.

[UF on Bitcoin (June 2011) here]

March 1, 2013admin 108 Comments »
FILED UNDER :Commerce
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