Oddbean new post about login | logout Interesting. Does Bitcoin inherently promote monarchy?
I’d say hyperlocal, economically-focused, proof-of-work derived oligarchies with geographical ties to valuable resources, economic processes.
Funny… and here I’ve always thought The Great War put an end to all of that “Monarchies are wiser and more peaceful” bullshit. Guess not.
I’m not advocating in favor of monarchies here, but rather wondering how Bitcoin might affect/shift the balances of power in existing political systems and societies.
Personally, I don’t see how bitcoin favors any particular governmental form. I expect bitcoin will dampen & mitigate the worst impulses of •all• governments. Irresponsible inbred monarchies and corrupt corporatist democracies alike have debased their currencies to empower their incumbent cantillionaire classes. That’s a much bigger problem, I would argue, than what particular form the government takes. I find enormous hope and optimism in the fact that all governments everywhere now exist in a world where sound money is a thing. None of them will escape it.
Yes. Nepotism and corruption is not exclusive to democracies. Just like Biden excuses and pardons himself so did no one hold King David accountable for conspiring to murder a man after bedding his neighbour wife. I think that a bitcoin standard will help us transcend all systems to a higher and more just form. Like gold is better than fiat. Monarchies in most cases is better than communism. I believe that there should be different systems competing for viability on a bitcoin standard. The cream will rise and the muck will settle. We don't need one absolute form of governance but many. The free market will show us what is valuable and what works. But as for me and my house, we bow to no man. We keep our word when given and measure merit through consistency in action. Politics and national identity fades and seem paltry when compared to how brightly Bitcoin shines.
I don't think bitcoin favors monarchies. I think it extends their decision making process to more people, which is a boon to any system.
Is the Great War what Americans call world war 1? If so, those were not monarchies. They had monarchs, but those figure heads don't really deserve the name. Those warring nation states all had legislatures, which is where the real power was. The problem was the legislative bodies, not the monarchs, who were sometimes literally kidnapped and coerced into approving the desires of the oligarchs in the diets.