Will the new rich and influential libertarians and cryptoanarchists save the world from dystopia?

The fact:

 

A significant number of crypto hodlers are Libertarians, Cryptoanarchists, and followers of the Austrian Economy school.

 

There were the firstcomers, the first ones who realized that fiat money is a scam emitted from the pure air.

 

New crypto Aristocracy is on the rise!

Source https://www.youtube.com/watch?v=0WF9qi8RtcE

Source https://www.youtube.com/watch?v=0WF9qi8RtcE

When Bitcoin/crypto goes to the moon

(what is highly probable):

 

  • They will be even richer and more powerful (Bitcoin has risen 1000% every two years)
  • Being rich means having the power to change the world according to their wishes 
  • At the same time, it means most people (no coiners, people believing in a democratic system) will stay poor - they will become victims of fiat inflation
  • Most people will miss the "crypto train" and won't adopt the new decentralized monetary system

 

New no-coiners plebs are on the rise!

But still, the poor, no-coiner people will stay and have the majority of democratic power:

 

  • They will endorse all government's proposals against a new crypto aristocracy, including:
    • Enforcement of the UBI (Universal Basic Income) will be an excuse for introducing CBDC (Do you want to receive the UBI? OK, but we can pay you the UBI in digital euros only!)
    • Increase of the property tax (e.g. Belgium has the highest average property taxes for real estate worth USD 1 million of any country in the study at 11.3%* - a charge of USD 113,131)
    • Introduction of wealth tax 

Introduction of citizenship based taxation

Governments will target all crypto millionaires according to their:

 

1. KYC purchases

2. Crypto tax declarations

3. Properties and visible wealth in the physical world

4. Excessive consumption (and excessive carbon footprint)

Therefore, it is crucial:

1. Avoid all KYC purchases and use decentralized non-KYC exchanges (check haveno-dex, vexl.it, ..)

2. Avoid crypto legal tax declarations (become a resident of a territorial taxation country or live from crypto loans)

3. Stay low profile - buy the properties on anonymous companies (it's still possible), keep minimal fiat on your bank accounts

4. Get a second citizenship/residency that cannot be associated with your banking/fiat history, your carbon footprint

The hunt for high-profile crypto people is already happening:

 

  • Changpeng Zhao (Binance founder) has already been arrested
  • Roger Ver ("Bitcoin Jesus") has already been arrested
  • Ross Ulbrich (Silkroad founder) was put to jail for double life
  • Who'll be the next one?

To identify all crypto millionaires, governments have already launched aggressive Crypto Wars 2024 to eliminate projects that ensure cryptocurrency privacy:

  • The arrest of Roman Storm (Tornado cash developer)
  • The arrest of Keonne Rodriguez and William Lonergan (Samourai Wallet founders)
  • Other known privacy projects got scared:
    • Incognito.org privacy project is going to be shut down
    • Wassabi Wallet and Phoenix Wallet left the US
    • Wassabi Wallet is disabling its CoinJoin functionality

The question is:

 

Can crypto millionaires gain power before they are arrested and jailed?

We have so far only examples where a few individuals have been able to confront the power of large states publicly:

  • Elon Musk vs many countries that enforced censorship
  • Tim Cook (Apple) vs. the FBI
  • Changpeng Zhao (Binance) vs USA (he got just four months prison sentence for a billion dollars money laundering)

New crypto aristocracy

  • The likelihood of physical attacks (kidnapping, extortion) will increase in the future (dedicated security services will be required)
  • There will be a whole new industry for crypto millionaires - how to buy real estate, stocks, and companies anonymously so that they remain "low-profile"
  • They will have multiple citizenships/passports to have better legal protection

Decentralized crypto will become historically the most powerful tool that can transform a collectivist society ("what a collective/government wants will be paid") into an individualistic society ("what an individual wants will be paid")

Is the "new tyranny of individuals" to be feared?

  • No. Individual tyranny is already at work. Individuals are in your government, and their decisions reflect primarily their personal interests and practically do not reflect what their voters want (especially if each voter wants something different).
  • There are a lot of Bitcoin philanthropic projects:
    • Pineapple Fund (distributed 5057 Bitcoins to 60 charities)
    • The Giving Block (over $170M in crypto has been donated)
    • BitGive, UNICEF Cryptocurrency Fund
  • Crypto people(and millions of them) are also socially conscious people who can support all the projects they consider important
  • Bitcoin will transform architecture.

When will the new crypto aristocracy survive?

  • When it has enough resources to lobby politicians who favor their interests over those of their no-coiner voters
  • The new crypto aristocracy will likely have to (at least formally) temporarily move to Bitcoin-friendly countries to avoid a hunt (what will happen in the US and EU)
  • Anti-Bitcoin countries can be expected to collapse over time due to their fiat inflation.

  • On the other hand, crypto-friendly countries will survive thanks to good non-inflationary money like Bitcoin, and because Bitcoin guys will bring a lot of Bitcoins there

  • But this may take decades.

A return to aristocratic times is not necessarily a bad thing:

Countries with functioning monarchies are among the richest in the world (highest GDP per capita):

  1. Qatar
  2. UAE
  3. Brunei

 

The question is, will countries with a new Bitcoin aristocracy have enough personal freedom?

 

Hans-Hermann Hoppe: The God That Failed

CBDC as a weapon to eliminate Bitcoin and the new aristocracy

  • States will do everything possible to enforce CBDC - centrally controlled state digital fiat money.
  • They will probably introduce this along with UBI, which will be paid to most of the population only in digital euros, dollars, etc.
  • The survival of central banks depends on CBDC.
  • And the survival of the current states as we know them depends on central banks

What should I do?

  • Avoid any KYC; don't buy crypto the state knows about!
  • Avoid legal crypto tax declarations and get better tax residency in a territorial taxation country (or do not have a legal income, live from savings/crypto loans)
  • Avoid potential citizenship-based taxation, citizenship-based military service, and citizenship-based carbon footprint - get a second citizenship.
  • Disconnect as much as possible from the state and its services
  • Stay "low-profile," use anonymous entities to own anything in a physical world

Stay safe!

You'll likely be a crypto millionaire, too.

The question is, just when...

Will the new rich and influential libertarians and cryptoanarchists save the world from dystopia?

By Pavol Luptak

Will the new rich and influential libertarians and cryptoanarchists save the world from dystopia?

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