Some experts believe that the unique qualities of cryptocurrencies such as Bitcoin may be the answer to ending involuntary taxation as well as the nation state sooner rather than later. Stopping the monster in his tracks requires starving it of what it survives on.
Cointelegraph sourced the views of experts within the crypto landscape about whether this assertion is in the affirmative.
Beginning of the end
As P.J O’Rourke noted, giving money and power to the government is like giving whiskey and car keys to teenage boys. They will mess up, and alas that is what we are witnessing today around the globe. Susanne Tarkowski Tempelhof, CEO of Bitnation, fervently believes Bitcoin is the beginning of the end of the nation state.
From the standpoint of the woman who built a nation on the Blockchain and also got married on it, the free flow of trade and capital across borders is essential to human liberty. Furthermore, the fact that the Blockchain technology allows a vast range of governance functions to be carried out without using a central authority, such as insurance, asset records, marriages, wills, birth certificates and more, will allow humanity to thrive without the disruptive state.
“At Bitnation, we believe we need to outcompete national governments at their original core function: security and jurisdiction. The Ethereum and Rootstock Smart Contract technology are ideally suited to power a decentralized post-Nation State Jurisdiction. That’s why we are building Pangea,” Susanne remarked.
Source of government power
Jeff Berwick, Canadian Bitcoin enthusiast, entrepreneur, libertarian and anarcho-activist agrees that Bitcoin and other cryptocurrencies will and can effectively end the nation state and its destructive ways.
“The main source of power of all governments today is their communist style central banks and monopoly on money,” Jeff asserted. “Without it, most governments would not have anywhere near the size or control they currently have. A movement from centralized control of money to a decentralized money would, for all intents and purposes, destroy the power of every government on earth.”
He went ahead and quoted Mayer Amschel Bauer Rothschild who said:
“Give me control of a nation’s money, and I care not who makes its laws.”
Another Bitcoin enthusiast, Stefan Molyneux, is on record to have stated that: “The power of the state to create money out of thin air, control interest rates and pretend that it is providing value to the population, when it is merely debasing their currencies and lowering them into a chasm of debt, will face a serious challenge from Bitcoin and other cryptocurrencies.”
In response to the question, Roger Ver, owner of Bitcoin.com, hopes that Bitcoin will help people realize the great truth put forward by Frederic Bastiat. “Everyone hopes to live at the expense of the state, but in reality, the state lives at the expense of everyone,” Roger stated in quoting the French economist.