Summary
Bitcoin functions as a distributed network and protocol without a central authority. It operates on a purely voluntary basis between peers. The value of the dollar is subjective and based on intersubjectivity, while Bitcoin is a distributed intersubjective system. The key difference between Bitcoin and the dollar is the absence of rulers and coercion in the former. Bitcoin has rules that people voluntarily opt into, and changes to these rules are also voluntary. There is no governance structure or authority imposing rules on the network. Anarchy is the foundational reality of Bitcoin, where individuals interact voluntarily within the chosen framework. There are no binding meta rules, and there is no authority to appeal to. Bitcoin is anarchy, and if this disturbs or confuses you, it means you never understood Bitcoin in the first place.
Key Points
1. Anarchy in the context of Bitcoin refers to a system lacking rulers or a central authority, where all cooperation and coordination is done on a purely voluntary basis between peers in the system.
2. Bitcoin functions as a distributed network and protocol with no one in charge. It is composed of sovereign individuals voluntarily choosing to interact with each other.
3. Bitcoin operates as a distributed intersubjective system, where the value of the currency is based on subjective viewpoints shared among a large number of individuals. Unlike traditional currencies, Bitcoin has no rulers or coercion, and all rules are voluntarily adopted by participants in the network.