Roger on Nostr: Fear is the right instinct, but bitcoin does not dissolve that fear. It makes the ...

Fear is the right instinct, but bitcoin does not dissolve that fear. It makes the price of acting on it visible. A state does not keep collecting because people believe in it; it keeps collecting while obeying stays cheaper than evading. A bearer asset changes exactly that arithmetic, and the collective unconscious never had to price it before. Where I would part with the Jungian reading is the ending: abundance has never produced philosopher kings by itself, and the historical record runs mostly the other way. Bitcoin takes away one lever of that fear. The fear itself stays where it was.