Blockchains and freedom

I’m a firm believer in the sovereignty of the individual in society.
Society is constantly falling into collectivist quagmires, where the self-government of the individual is subjected to dense matrices of law and obligation, usually in response to some media-generated crisis or in overreaction to a real crisis that isn’t really resolved by the overreactions.

I am a great fan of blockchain technology precisely because each participant wears the ‘big boy pants’, makes their own decisions, participates exactly how and where they wish, and yet are so collaborative and collegial. In my opinion, the great community here is precisely because we are all self-sovereign individuals who feel able to contribute to the ecosystem as a whole, not because we are obligated to by governments or paymasters.

Blockchain solutions also could provide a way out of the collectivist quagmires: IE if USA wants to devalue their currency, raise taxes and hike interest rates, we can find or build solutions for those problems in crypto.

In general I’d like to see the power of governments and corporations diminished in our lives, and without some broad system of collaboration we can all embrace, there’s no way to do that really.

What do you guys think?

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We see growing competition between two economic systems: the Fiat and Crypto Economies. I too hope that the enslavement of Government Regulations do not hinder the development of the Crypto Economy. Another concern is the Hedge Fund mentality overwhelming sound crypto monetary policy.

I hope that Crypto Economy matures as a digital barter system. My consumers swap various coins/tokens for goods and services. As more and more people buy a service, then their token becomes more valuable. This value follows Metcalf’s Law (V=n^2)… Raoul Pal just published an insightful paper in the regard; The Inconvenient Truth about Crypto Currencies.

In the Crypto Economy, I hope that there will always be competition between a variety of crypto-currencies. Therefore, it is essential that no one currency becomes dominant for a means of exchange (we don’t want a crypto reserve currency).

GameStop Stock just got caught in a short squeeze and Robinhood stop the buying of their shares…outrageous! DDX just launched as a derivative exchange.
Will Crypto Hedge Funds cause a distortion with in the crypto-economy as irresponsible leveraged trading has done in the fiat economy?
Is the equivalent of Hedge Funds in the crypto-space beneficial?
Any thoughts?

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I don’t know much about hedge funds, but I’m a firm believer in the value of protecting creativity, initiative, risk and the opportunity for creative destruction.

Where I think Wall Street has gotten off the rails is in things like high-speed trading available only to the select who have built that infrastructure, government bailouts of various sectors when their bets fail, and the corruption/cronyism that characterizes things like the Robinhood transaction cancellation.

As far as I’m aware, all of these things are moot in Crypto space as of yet; while transaction fees might be high, it affects everyone equally and I can decide not to trade based on that factor. No one is bailing out crypto and I hope they never do. And the closest thing we come to cronyism is private sales, which I’m ok with. Once they’re public, everything is in the open and equalized from there.

Whether someone wants to trade with huge leverage is no skin off my nose, and if they’re good at it, good for them. I could make those same bets if I wanted to risk it. Failure for both of us is on our own shoulders, and that’s how it should be for a functioning marketplace. To put arbitrary limits on trading only grants a political play into the space which would benefit some at the expense of others.

IMO

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