The Phaserl


The Coming Bitcoin Welfare System

from GoldSilverBitcoin:

Bitcoin creates a unique opportunity for a revolutionary new way of welfare: p2p.

Bitcoin is considered by too many a tool of anarchist, minarchists and libertarians in a pursuit of laissez-faire economic freedom, but this is a misnomer when taken to the extreme. In fact, as many Bitcoiners know, there are all sorts of different types of users. And, many of these users do not believe, like libertarians and their kindred spirits, that welfare is the root of all statist evil. So, the question this essay attempts to answer is straightforward: what does welfare in the Bitcoin economy look like?

Welfare in a Bitcoin economy will look much different than any forms of welfare we are used to from the past and present. This is precisely due to the fact that there are, practically, no states in a Bitcoin economy. Many people might ask themselves what in the world is welfare without a state? Before we answer that question, let’s look at a brief history of welfare – namely, where it got its beginning.

Welfare, first and foremost, ensures a minimal level of well-being and social support for all citizens of a nation.

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