Sachin on Nostr: 1. I was talking about economic policy, for which it does equate bad outcomes over ...
1. I was talking about economic policy, for which it does equate bad outcomes over the long run if there is state involvement of any kind.
2. I did not mention Bitcoin in the OP at all.
I see where you're coming from, but I'd build on what you said and say:
Politically, it boils down to how strong and well-defined the institutions of money, property rights and voluntary contracts are in a particular region. Doesn't mean these institutions necessarily need to be tied to a centralised state.
A state can provide these institutions but it will be prone to corruption, takeover and degradation. It will inevitably lead to worse outcomes no matter how much a society tries.
2. I did not mention Bitcoin in the OP at all.
I see where you're coming from, but I'd build on what you said and say:
Politically, it boils down to how strong and well-defined the institutions of money, property rights and voluntary contracts are in a particular region. Doesn't mean these institutions necessarily need to be tied to a centralised state.
A state can provide these institutions but it will be prone to corruption, takeover and degradation. It will inevitably lead to worse outcomes no matter how much a society tries.