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'Bitcoin is Teaching Realism to Libertarians': An Interview With Old-School Cypherpunk Vinay

• Bitcoin Magazine

Well, if the Internet goes away, Bitcoin goes away, right? So it's vulnerable in the same way that civilization itself is vulnerable. But if civilization breaks down, almost any store of value becomes useless very quickly. It's not really clear that large piles of wealth sitting there actually exist without the state to protect them. That's easy to see for copyright and patent, but the same is true for most other passive types of ownership, such as stocks, bonds or futures. And we could go further. I own the house I live in, but that house next door that I'm renting to you? The reason it's mine, is because the state says it is. The ability to do large scale capital accumulation without having to need a private army is basically an artefact of pre-existing law. Some people prefer gold over Bitcoin, but even if you own a lot of gold, and civilization breaks down, you'll need people to guard your gold. And in all probability the people guarding your gold will end up owni

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