Hi,
I found your post precise especially your discussion on the Bitcoin Economy as a jurisdiction of freedom and its contrast to the corrupt systems of traditional governments. I resonate with your critique of how global states operate and share your vision for enabling economic freedom through math and decentralized principles.
I am currently working on a project that could provide companies with the freedom to operate entirely within the cryptocurrency sphere. The jurisdiction we are considering is an unrecognized state, which allows it to operate outside traditional sanctions and regulations. This unique position could open doors for businesses seeking minimal governmental interference and maximum autonomy.
I’d like your advice: in your view, where should I start engaging with people or communities who might share this vision? How might such a project align with the goals of expanding the Bitcoin jurisdiction you’ve described?
Topic: The Bitcoin Economy (Read 1101 times)
Bitcoin is the opening shot in a new jurisdiction. The Bitcoin Economy is thriving in a jurisdiction outside that of any government. The jurisdiction of the Bitcoin Economy is ruled by math and not by violent force. The rules are set by competing software projects, and evolve based on what works. Bitcoin says “thou shalt not double spend.” And what happens if you double spend? Nothing. You can’t. The laws are akin to the rules of physics, not the rule of kings.
Today, the Bitcoin jurisdiction is a small island. There are few inhabitants, and we must leave the jurisdiction frequently and submit to governmental jurisdiction. As more of the economy is subsumed into the Bitcoin jursidiction, it becomes a more powerful force, and government becomes weaker. For the Bitcoin project to succeed, we must find ways to move economies into this jurisdiction. We must also explore strategies to make the interface between the two jurisdictions safe and porous.
In future posts I’d like to expand discussion on two key concepts. Prediction markets can furnish the Bitcoin Economy with many of the functions of finance, without requiring an interface to government jurisdictions. This greatly expands the scope of the Bitcoin Economy, and provides an essential infrastructure for the rest of the economy.
i2i (individual-to-individual, as opposed to business-to-business or business-to-consumer but similar to p2p) describes the situation wherein large swaths of the economy are carried out by individuals trading with other individuals, rather than via large companies, corporations, and governments. The low transaction costs of the unregulated Bitcoin Economy make this more attainable, and it’s an ideal interface between the Bitcoin jurisdiction and government jurisdictions. Individuals carrying out small, ad hoc trades make terrible targets for government crackdown. They are hard to find in time and space, are low profile even if caught, and each crackdown has almost zero effect on the system as a whole. It's also bad for politics.
The combination of these two concepts packs a powerful punch, and that’s another discussion I’d like have.
Today, the Bitcoin jurisdiction is a small island. There are few inhabitants, and we must leave the jurisdiction frequently and submit to governmental jurisdiction. As more of the economy is subsumed into the Bitcoin jursidiction, it becomes a more powerful force, and government becomes weaker. For the Bitcoin project to succeed, we must find ways to move economies into this jurisdiction. We must also explore strategies to make the interface between the two jurisdictions safe and porous.
In future posts I’d like to expand discussion on two key concepts. Prediction markets can furnish the Bitcoin Economy with many of the functions of finance, without requiring an interface to government jurisdictions. This greatly expands the scope of the Bitcoin Economy, and provides an essential infrastructure for the rest of the economy.
i2i (individual-to-individual, as opposed to business-to-business or business-to-consumer but similar to p2p) describes the situation wherein large swaths of the economy are carried out by individuals trading with other individuals, rather than via large companies, corporations, and governments. The low transaction costs of the unregulated Bitcoin Economy make this more attainable, and it’s an ideal interface between the Bitcoin jurisdiction and government jurisdictions. Individuals carrying out small, ad hoc trades make terrible targets for government crackdown. They are hard to find in time and space, are low profile even if caught, and each crackdown has almost zero effect on the system as a whole. It's also bad for politics.
The combination of these two concepts packs a powerful punch, and that’s another discussion I’d like have.
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