The role of Bitcoin in the coming Cashless Society

During the manufactured crisis of 2020, governments worldwide have ramped up the war on cash.

With governments intentionally exacerbating cash’s problems, bureaucrats fanning the flames and Central Bank Digital Currencies being fast-tracked, the thought that crypto might soon come under fire carries a palpable sense of fear in the minds of many.

Under this scenario, agorists, voluntaryists, and crypto-anarchists imagine a technocratic dystopia, in which none are free from the watchful eyes of the government-tech coalition.

Due to their independent-mindedness, dissidents would find themselves excluded from the mainstream financial system, severely limited in their travel, with only a barter economy and perhaps precious metals as a medium of exchange.

It’s a nightmare of a vision, but thankfully, things don’t seem poised to develop that way – at least not to the extent many imagine.

That’s because even a cashless society, cryptocurrencies will still be accessible and liquid.

Even if cryptocurrencies are fully banned, there will be loopholes.

General government incompetence, and the limited will of the state to enforce its laws guarantee necessary space for agorists to operate.

It isn’t entirely likely in a cashless society that cryptocurrencies would receive a full ban. Politicians always leave themselves an out, and cryptocurrencies are second only to cash for preserving financial privacy.

Cash is extremely useful to politicians accepting bribes and laundering their ill-gotten gains. They are simply unlikely to let such a tool go without a suitable replacement.

Bitcoin Cash in a cashless society

Bitcoin – a placeholder for decentralized, scaleable cryptocurrencies – is more than we know.

It will be the rails of the counter-economic underground railroad. This term, borrowed from Derrick Broze describes the infrastructure agorists, voluntaryists and the like will need to transact freely in a cashless society.

Sepia Railroad Tracks V Photograph by Athena Mckinzie

Among the innovations Bitcoin already enables are stablecoins, blockchain-issued equities, trustless communication, decentralized marketplaces, and trustless financial derivatives.

The vast majority of these innovations are happening on Bitcoin Cash, which at present is also the only cryptocurrency with such capabilities that has proven its security model and can actually scale to meet demand.

Today marks Bitcoin Cash’s third anniversary of independence from BTC. So we celebrate all of Bitcoin Cash’s innovations and look forward to its future contributions to the counter-economic underground railroad, and the freedom it enables.

Happy Independence Day, Bitcoin Cash!