The Balaji Fund, backed by Coinbase CEO Brian Armstrong and other wealthy tech players, aims to fund “Network States” free of overbearing regulations.

More efforts from tech bros to build Rapture.

Interesting quotes:

it had backing from tech heavyweights such as billionaire Coinbase CEO Brian Armstrong, AngelList co-founder Naval Ravikant, and venture capitalist** Fred Wilson**, a Coinbase board member who sold his shares in the company for $1.8 billion after it went public in 2021.

“Bitcoin, if it wins, completely changes the world, because it changes the ability of centralized states to do what they’ve been doing,” Srinivisan said in a presentation delivered to a Bitcoin conference in Amsterdam in October.

The Bitcoin-based Network State will be based on “internet values” such as “open source” and “peer-to-peer,” Srinivasan has written.

An utopia run on Bitcoin? What could possibly go wrong?

  • sculd@beehaw.orgOP
    6·
    11 months ago

    This is the classic example.

    Below one is also super fun: https://www.politico.com/magazine/story/2017/06/30/colorado-springs-libertarian-experiment-america-215313/

    Take the streetlights. Turning them off had saved the city about $1.25 million. What had not made the national news stories was what had happened while those lights were off. Copper thieves, emboldened by the opportunity to work without fear of electrocution, had worked overtime scavenging wire. Some, the City Council learned, had even dressed up as utility workers and pried open the boxes at the base of streetlights in broad daylight. Keeping the lights off might have saved some money in the short term, but the cost to fix what had been stolen ran to some $5 million.

    FREEDOM TO STEAL!!!