Technology is Trumping Statism Again

Regardless of the laughable claims made by an author at Daily Kos, market anarchism is showing how practical its rhetoric is once again. This time the place is Venezuela, the problem is currency controls and economic collapse, and the solution is Bitcoin:

(Reuters) – Tech-savvy Venezuelans looking to bypass dysfunctional economic controls are turning to the bitcoin virtual currency to obtain dollars, make Internet purchases — and launch a little subversion.

Two New York-based Venezuelan brothers hope this week to start trading on the first bitcoin exchange in the socialist-run country, which already has at least several hundred bitcoin enthusiasts.

While the Venezuelan government continues its attempt to control its population through economic controls its power is quickly fading as its economy collapses and more people turn to the “black” market for basic necessities. This is similar to what happened during the collapse of the Soviet Union.

Once the state’s controls have been circumvented its death is inevitable.