Not being punished is not an incentive. From Mark E. Jeftovic at bombthrower.com:
Yet, elites think that individual incentives are irrelevant.
One of the holy writs of the Bitcoin and crypto-currency space is The Sovereign Individual, written over twenty years ago, before the Global Financial Crisis, before the Satoshi white paper, before clown world and before “The Jackpot” (COVID-19).
Written by James Dale Davidson (still active and writing), and the late Lord Rees-Mogg (whose son is a prominent figure in the UK Tory party), the book predicted a future wherein the centralized, hierarchical, top-down model of nation state governance would break down and be forced to yield to a type of free market competition for citizens, producers and tax revenues.
The reason why was simple: asymmetric public key encryption.
They likened it to the “gunpowder revolution” of the Information Age, because it flipped the cost of un-doing something on its head – it was now more expensive to decrypt data (if not impossible) than to encrypt it.
That may sound like an innocuous enough innovation, but to Davidson and Rees-Mogg, the ramifications were enormous. It would change everything – and if you haven’t read the book already, take the time to do so. (The Canadian analyst W R Clemens ascribed the entire Enlightenment Era as being ignited by something just as seemingly innocuous: the discovery of perspective in Medieval art, which I’ve written about here and here).
