These are the changes I want to see in the world that crypto allows me to live in my life today.
Nation state borders restrict freedom and allow governments to control the movement of people, goods and services.
Crypto is global and indifferent to national borders. I have taken my own crypto savings across borders in amounts that customs would not have allowed in cash or physical assets. I have sent crypto across borders in amounts that would have required me to seek permission and give an explanation if it was government currency.
Common grounds for discrimination today include
- Sexual preference
- Criminal record
- Social class
- Political and religious association
- Citizenship/immigration status.
I have personally been on the receiving end of such discrimination when using government currency.
A crypto network has no way of knowing any of these things about users which makes discrimination impossible. Know your customer information in e-commerce is a way of gathering criteria on which to discriminate against people, such as not providing an online poker service to people in the US. Pseudonymous crypto payments can make that kind of discrimination impossible.
What governments call free trade agreements today are the very opposite of free. They are lists of certain items that 2 governments allow to be traded, each item subject to restrictions and interference. Crypto is the antidote as it allows free transactions regardless of what government restrictions are in place, a big step towards actual free trade.
Privacy and security
In the government currency banking system all my transactions are tracked and attached to my identity. They are then used by nation state intelligence agencies to make a profile about me and can also be used by government investigators to help determine my tax obligation.
With crypto I am able to practice privacy techniques making transactions difficult to track and making it hard to identify to me. Also the government can not easily confiscate crypto like they can with funds held in banks.
No debt bondage or inflation tax
All government currency is debt based and issuing new debt is the only way a nation’s economy can grow. Crypto is not debt based and the crypto economy grows by value creation.
In the government currency system issuing new money causes price inflation. This devalues savings and wages denominated in government currency. I avoid this devaluation by having my savings and income in crypto.
Less tax to fund bad government
Government currency and taxation systems are designed to be great for corporate tax minimization but bad for individual tax minimization. Crypto can help individuals minimize their tax bill better than government currency can.
Taxation is the only thing that guarantees demand for government currency and therefore taxation is the only thing that guarantees government currency has value. Tax and creating new money are the ways governments fund wars, in fact in a crypto paradigm wars would only be possible with the financial support of the population.
If you want to see similar changes the best way to live the change is taking your wealth out of government currency. Doing so is more effective than voting or protesting.