14 Aug '12, 10pm

Bitcoin, the Darknet Economy, and the Low Over-Head Revolution

What happens when the unemployed and underemployed start taking advantage of the technical possibilities for low-overhead household microenterprise, in defiance of zoning and licensing and bogus “safety” and “health” standards whose real purpose is to impose artificially high capitalization and overhead costs and make it impossible to stay in business without a sufficient revenue stream to amortize them? Say hello to household micro-bakeries using ordinary kitchen ovens, home-based cab services using the family car, household daycare and beauty salons, raw milk and meat from animals without RFID chips, etc. — all bartering with each other and with those above-mentioned garage manufacturers in an encrypted darknet economy. And all while the state, aka the executive committee of the ruling class, blindly gropes in the dark to prevent it.

Full article: http://www.bastiatinstitute.org/2012/08/14/bitcoin-the-da...

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