3 ms·

My poor understanding of Libertarian theory suggests that this is anarchy working well - there was someone doing dodgy front running and exploiting people, and

My poor understanding of Libertarian theory suggests that this is anarchy working well - there was someone doing dodgy front running and exploiting people, and someone has made that too expensive to continue. But I cannot get away from the feeling that I would prefer if there was a centralised gov that took the 250K as taxes, and still prevented the front running. Edit: I may have been wrong - it seems it did not prevent future front running, just meant the front runners had to adjust their approach. It does seem like "if you rob people in the street, be careful as someone might rob you afterwards" as opposed to "all robbery is prevented"

CityOfThrowaway 6y ago
This method is desirable in that it is a generalizable and automatic correction mechanism. There is no need for a group of people to come together and decide to prevent it, figure out how to prevent it, and then stand up the infrastructure for detection, intervention, and enforcement. All of those things are cost centers in a non-free market, and will be judged as such. In the free market, somebody will turn that cost center into a profit center and achieve the same end goal. Of course, it doesn’t work in all cases. There are types of attacks that can’t be inverted into a profitable counter attack. For those things, libertarianism may well fall short and a dogmatic ideal.
southerntofu 6y ago
> this is anarchy working well No, this is anomie (see Wikipedia). Anarchy is the absence of domination/authority, not lawlessness and rule of the strongest. Also, as an anarchist, it makes me laugh to read people claiming crypto-coins are supposedly anarchist. Who controls the code? Who controls the network? Power is not as distributed as it appears. Moreover, one could argue the entire concept of money is antithetic to anarchism.
- igorkraw 6y ago
  While I agree on you that crypto isn't Anarchy, I feel that Proudhons labor vouchers aren't much different from money. Money is just tokens of debt, be it if gratitude or other, if a group uses them to keep track of that debt it's not inherently evil
  - 7sidedmarble 6y ago
    Uhhh, correct me if I'm wrong but the big difference is labor vouches are used up when you 'spend' them, so they can't be accumulated as capital. Also Proudhon never talked about them, it was someone else In his circle. Proudhon espoused something called mutual credit I believe.
    - igorkraw 6y ago
      I have it all mixed up in my head tbh, you are right. Mutual credit is an even more explicit money mechanism though
- golergka 6y ago
  > Who controls the code? Who controls the network? People who voluntarily put their trust and money in it.
valuearb 6y ago
Capitalism isn’t anarchy.

CityOfThrowaway 6y ago

This method is desirable in that it is a generalizable and automatic correction mechanism. There is no need for a group of people to come together and decide to prevent it, figure out how to prevent it, and then stand up the infrastructure for detection, intervention, and enforcement. All of those things are cost centers in a non-free market, and will be judged as such. In the free market, somebody will turn that cost center into a profit center and achieve the same end goal. Of course, it doesn’t work in all cases. There are types of attacks that can’t be inverted into a profitable counter attack. For those things, libertarianism may well fall short and a dogmatic ideal.

southerntofu 6y ago

> this is anarchy working well No, this is anomie (see Wikipedia). Anarchy is the absence of domination/authority, not lawlessness and rule of the strongest. Also, as an anarchist, it makes me laugh to read people claiming crypto-coins are supposedly anarchist. Who controls the code? Who controls the network? Power is not as distributed as it appears. Moreover, one could argue the entire concept of money is antithetic to anarchism.

igorkraw 6y ago
While I agree on you that crypto isn't Anarchy, I feel that Proudhons labor vouchers aren't much different from money. Money is just tokens of debt, be it if gratitude or other, if a group uses them to keep track of that debt it's not inherently evil
- 7sidedmarble 6y ago
  Uhhh, correct me if I'm wrong but the big difference is labor vouches are used up when you 'spend' them, so they can't be accumulated as capital. Also Proudhon never talked about them, it was someone else In his circle. Proudhon espoused something called mutual credit I believe.
  - igorkraw 6y ago
    I have it all mixed up in my head tbh, you are right. Mutual credit is an even more explicit money mechanism though
golergka 6y ago
> Who controls the code? Who controls the network? People who voluntarily put their trust and money in it.

valuearb 6y ago

Capitalism isn’t anarchy.