Crypto Is Not Fair

Crypto does not have any concept of impartiality, nor does it yield to abstractions of equality. Crypto is not fair. And we should be happy about it. Fairness is something that can only be subjectively defined, and on those grounds, it can only be forcibly applied by regulation and sustained by tyranny.

Crypto was not designed to be fair, and it will be forever impossible to make it so. There is no precedent in crypto for fairness, no exemplar for equality—big animals will eat small ones. The best we can hope for is to be an animal that tastes bad.

We Blocksters understand that a redeeming feature of crypto is its inherent unfairness. Great rewards come with great risks. That’s part of the deal. Got rugged? We have been there too—multiple times. That is where the community enters: we look out for each other. We do our due diligence as a team. We research roadmaps and hold founders accountable as a collective; we collaboratively move into worthy projects and out of rotten ones. Our communities make the market. We are the market.

Besides, no market is truly fair. 

A Zero-Sum Game

Crypto will always be a zero-sum game, with clear winners and losers. Only a fool would expect to be a winner all the time. There will always be champs and chumps on both sides of every trade. 

Crypto mirrors life. Despite our best efforts in striving for fairness, inequality—both real and perceived—will always exist, at every micro and macro level — ready to spring forth in defiance of any overtures towards even-handedness.

We profit from inside information; we get rugged by dishonest founders. This is part of the crypto lifestyle. Only the pitiful believe that crypto should be fair or devote their time to the pursuit of “crypto justice.” The Wild West dynamics of crypto are far too complex to assume we can measure or levy fairness with a reasonable level of assuredness.

Those governments and central bankers that fight for endless amounts of crypto regulation are usually disguising nefarious intentions. Closer inspection reveals that crypto regulators are often driven less by their desire to achieve an efficient market, than their hunger to trespass on every freedom we hold dear, beginning with financial sovereignty. They would vindictively forbid a man to eat steak because a baby cannot chew it well.

At face value, regulation is not an awful thing. Markets require rules of engagement and codes of conduct; centralized structures are necessary for setting standards, improving price discovery, and resolving disputes. The good news is that with the “trustless” promise of Web3, much of this will be done by smart contacts; however, the masters of traditional finance and their central banker pals continue to stand in vehement opposition to trustless innovations in DeFi and crypto.

Regulated Out of Business

Sovereign finance will never yield to the pathological structures of control that bankers and governments are aching to implement. The greatest assaults on capitalism are always committed under the guise of regulation. Regulation is the ultimate Trojan Horse through which those in power trample our freedoms and individual liberties–creating more, not less political and financial inequality. The more regulation that is foisted upon crypto, the less freedom we have. 

Any large-scale effort to “make everything fair” invariably (and predictably) will result in the crypto industry being regulated out of business. When the rising tide of cryptocurrency becomes reversed, any waters that previously lifted all ships to prosperity will be rendered impassable and inaccessible to all—completely dried of their buoyancy and virility.

In economies that are immoderately centrally managed and excessively over-regulated, the only way one can differentiate themselves from another is not through extraordinary talents, ethics, or efforts, but through bribes and extortion; economic transactions and social position are driven not by merit and trust: they are conditioned by shakedowns and graft. Such mechanisms become the determinant factor for whether one gets to sleep on a hospital bed or in a pool of urine on the floor.

See you in the crypto markets.

William Laurent is Blockster’s Editor in Chief. Widely published throughout his career, Will is regularly featured in American Banker, Foundry, and Tech for Good, to name a few. He’s advised over 30 Fortune 500 companies across North America and Asia on content strategy, data visualization, and digital/cultural transformation. He is an influential educator, writer, artist, crypto dad, and husband. His artwork and NFTs are sought-after collectibles. Connect with William on DeSo and LinkedIn.

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