Cryptocurrencies will lead to anarchy?

[Thekool1s]

So I have been thinking about this for a few days, I can't seem to paint a clear picture of how things will pan out once Cryptos have been "mass-adopted". Do you think we will end up with Anarchy or we will come up with something to ensure "social order"?

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[Last of the V8s]

No, it's Bitcoin that will lead to anarchy, not 'cryptocurrencies'.
'Mass-adoption' is not necessary or even desirable.
Anarchy will be localised and temporary, just as with liberal democracry.

[franky1]

cryptocurrencies are dependant on an-arc-key (elliptic curve)

cryptocurrency is just a tool. do guns lead to anarchy. or do nutters who have no morals use guns to create anarchy

[Darker45]

So I have been thinking about this for a few days, I can't seem to paint a clear picture of how things will pan out once Cryptos have been "mass-adopted". Do you think we will end up with Anarchy or we will come up with something to ensure "social order"?

I guess not. Social order will prevail but, as always, it will have some changes. As a matter of fact, that "mass adoption" that you are referring to must also include the governments, central banks, commercial banks, and other traditional financial institutions hopping into the crypto train. And that is gradually happening right now.

[aoluain]

Im taking it that we are talking about decentralised cryptocurrencies, and so
my thinking lately is that there will not be the mass adoption a lot of people think
there is going to be. The majority of the public are happy to continue using
their apple, android pay, credit and debit cards, the mainstream banks will continue
to make sure to make it as convienient to use FIAT as possible, and controled
crypto will replace teaditional FIAT seemlessly.

So there wont be the anarchy which is suggested from crypto. The crypto war
has been raging since the 90's and (decentralised crypto) is just one front that
the war is being waged on.

[Thekool1s]

As a matter of fact, that "mass adoption" that you are referring to must also include the governments, central banks, commercial banks, and other traditional financial institutions hopping into the crypto train. And that is gradually happening right now.

Governments basically run on Taxes, with cryptocurrencies there is no way they will be able to collect the amount of taxes which they are able to collect now. Fewer taxes mean lesser military budgets, educational budget and so on... Public Services will basically fall... Shit hits the fan and boom we end up with Anarchy... I don't see how they survive out this "mass-adoption". As for Banks unless they will create something like USDT which again can be printed when they wish isn't a true "CryptoCurrency" But rather a "stable coin"... Another way to fool the masses basically... Bitcoin will become the "gold standard" easier to move, store etc. If you are a gold hoarder, good luck moving tons of it through a fallen society...

or do nutters who have no morals use guns to create anarchy

Good luck with that... A society which cares only about benjamins is bound to have no morals... What morals are we even talking about here... LOL...

[Darker45]

As a matter of fact, that "mass adoption" that you are referring to must also include the governments, central banks, commercial banks, and other traditional financial institutions hopping into the crypto train. And that is gradually happening right now.

Governments basically run on Taxes, with cryptocurrencies there is no way they will be able to collect the amount of taxes which they are able to collect now. Fewer taxes mean lesser military budgets, educational budget and so on... Public Services will basically fall...

The implication of cryptocurrency in taxation is kind of a hot debate. But I don't think cryptocurrency should be equated with people shirking from tax responsibilities. In fact, if there are tax evaders and cheaters, they are not the individual working class persons but the large international and very wealthy corporations and companies using fiat.

If you are benefiting from public transportation, roads, health care, education, and other social services coming from the government, which is operating primarily from taxes, would you want all these services to be cut or even reduced? Of course not. If you can cheat your tax dues by using crypto and know that it affects the public services the government can offer, would you do it?

I am also with the belief that when cryptocurrency becomes the main mode of payment; tax collection, monitoring, computation, and so on would also be adopting accordingly. Furthermore, tax imposition might even be made more efficient with cryptocurrency with the help of the blockchain as businesses cannot anymore easily cheat about their income. Nobody can cheat with that public ledger. It cannot be tampered with. They cannot hide how much entered into their wallet.

[Thekool1s]

In fact, if there are tax evaders and cheaters, they are not the individual working class persons but the large international and very wealthy corporations and companies using fiat.

Indeed, but there is nothing stopping the working class to reach "class consciousness'. Your points below could be one of the reasons why they would prefer to give out taxes but the reality is the top 1% give out the most taxes^[1] compared to the masses, which is why we have guys like Donald working hard to reduce what the % of what the rich have to pay... These are the people who work hard to reduce what they have to pay in taxes, They Invest in Real estate and so on... So once they are out of the system, all you have is peanuts... Which then leads to an eventual collapse...

Your points...

If you are benefiting from public transportation, roads, health care, education, and other social services coming from the government, which is operating primarily from taxes, would you want all these services to be cut or even reduced? Of course not. If you can cheat your tax dues by using crypto and know that it affects the public services the government can offer, would you do it?

I am also with the belief that when cryptocurrency becomes the main mode of payment; tax collection, monitoring, computation, and so on would also be adopting accordingly. Furthermore, tax imposition might even be made more efficient with cryptocurrency with the help of the blockchain as businesses cannot anymore easily cheat about their income. Nobody can cheat with that public ledger. It cannot be tampered with. They cannot hide how much entered into their wallet.

This is only true if we end up with a "Stable Coin"... With Cryptocurrencies which allow users privacy, this isn't applicable...

[Myfe]

So I have been thinking about this for a few days, I can't seem to paint a clear picture of how things will pan out once Cryptos have been "mass-adopted". Do you think we will end up with Anarchy or we will come up with something to ensure "social order"?

How are you defining mass adoption? 30% of the population owning bitcoin? 70% of the population owning bitcoin? Does mass adoption require abandoning fiat currency?

Risk to the social order will only come if people abandon their home, government-backed currency. If the government's wealth deteriorates, so does its ability to govern and provide core safety and social services. And when police forces or firefighting services or hospital systems start to get weak or fade we'll see social unrest!

No, it's Bitcoin that will lead to anarchy, not 'cryptocurrencies'.

Ha, Bitcoin is just one brand of a tool - a tool called cryptocurrency. If that tool is misused, negative solution or economic impacts will ensue. Just as the Dollar is one brand of a tool called government-back currency. All government-backed currencies suffer the same cancer of inflationary value driven by fractional-lending.

[eli113]

Cryptocurrencies will lead to anarchy?  Yes.

read and find why : (short enough but in Greek language , God bless Goo... Translator  )

https://el.wiktionary.org/wiki/%CE%B1%CE%BD%CE%B1%CF%81%CF%87%CE%B9%CF%83%CE%BC%CF%8C%CF%82
https://el.wiktionary.org/wiki/%CE%B1%CE%BD%CE%B1%CF%81%CF%87%CE%AF%CE%B1

i am willing to paraphrase those texts for all of us, but someone with proficiency on literature will be best fit to do so.

Elias Ch.


update/disclaimer : seriously as this board suggests , trying to upgrade the level of this thread :
i think you treat the word Anarchy a little wrong.

anarchy not equals chaos,disaster etc. worldwide we are abusing this word into sentences every day.
pure Anarchy has ministers,officials,respect to the human rights and is the mother of Democracy.
correct me if i am wrong.

[odolvlobo]

anarchy not equals chaos,disaster etc. worldwide we are abusing this word into sentences every day.
pure Anarchy has ministers,officials,respect to the human rights and is the mother of Democracy.
correct me if i am wrong.

I think that needs some emphasis.

anarchy ≠ chaos

[eli113]

a huge ligature ! how nice !
good day and health to all BitcoinTalk users.
Elias Ch.





disclaimer : this is not spam , i made a mistake : mentally locked the thread. i am trying to correct it.
thread has still great potential . thanks OP !