Ideal Ancapnistan is like Bitcoin and Web 3.0

Bitcoin (or Monero and others) are like property right without government.

Your government doesn’t even need to know you have bitcoin. It’s very difficult to steal already.

Adam Smith says that no body can accumulate more wealth than 3 days wage without government because people will just steal.

So we usually have catch 2-2. Government which is anti libertarian, or safety.

With bitcoin, that 3 days become 10 years at least. LOL. That’s very libertarian.

Here is the tricky part.

Bitcoin don’t even need property right?

Do you own your bitcoin?

Think about it for a while.

If you control the key, does it make any difference between you earn it fairly or stole it?

If you stole it you may get caught and go to jail. Well, the probability is already so low for most things. Let alone bitcoin.

Let’s think about benefit instead of morality.

Why do you want to own stuffs?

I want to own my house. Why so I can live in it. What about if another person squat my house? Well, my government would kick that guy out. I own the house.

So the benefit of ownership is you got government on your side when there is dispute.

There is a maxim. 90% of ownership is possession. The benefit of ownership is that 10 %. On area where your possession is threatened you got government on your side.

So on most things, there is an advantage in owning something. You also want government to recognize your ownership of say, some land or some cars.

Does the benefit exceed the costs?

Often yes.

Owning something means paying taxes on it. If you just control bitcoin and don’t own it or don’t declare you own it then you don’t pay taxes on it. If you own it and declare you own it , you pay taxes on it.

Looks like you are better off not owning it at all.

What about government protection of your ownership?

Almost none for bitcoin.

Even for things like land, the protection is minimal with government often protecting squatters rather than the owner of the land and building.

So, if we think about it, property right is not as useful as we think.

And bitcoin eliminate the need for it.

You control it, it’s effectively yours without you having to own it.

Crypto world is effectively ancapnistan already.

You can do any business without licenses and regulations. Most licenses and regulations are simple and easy to understood. If I go to binance of course I have to get “license” and regulation from binance but it’s pretty much I can trade and I keep what’s mine.

Government justice works by vengeance.

Most of the time, you lost money due to fraud and government just punish the fraudster. Maybe just maybe. Very rarely you get your money back due to government justice.

Bitcoin justice works by prevention.

You just can’t steal others’ bitcoin. It’s extremely difficult. Well if a thief can, I would just declare it his because it’s my fault if someone can steal my bitcoin.

And all these aren’t just empty talk. I know many people making millions in crypto world. Without regulation, the smart can find business opportunities.

Yes business opportunities are still less than what if you use dollar. More like online gambling, trading crypto, and perhaps affiliate marketing or selling e-book.

But still. you keep what’s yours. It can be untaxed and anonymous. No red tape. No national curiculum. No DEI no racism.

I can say I am 100 times richer since the day since I use bitcoin.

Tax? Just making a lot in crypto is tax free. It’s only taxed when you convert it to fiat. There are ways to do so with minimal fee and taxes. Ask your tax lawyers.

I haven’t heard anyone sent to jail for evading tax with bitcoin yet even though evading tax with bitcoin is easier than with other means.

Breaking Bad wouldn’t have been that complicated if Walter White knows bitcoin or XMR. Lots of their problem revolves around saving and hiding cashes. LOL.