Cryptocurrency Is Agorism in Action
Crypto can be viewed through the lens of all four categories. Red market crypto occurs when someone hacks into another person’s wallet or uses ransomware to extort; this is aggression. Black market crypto is when an e-currency is prohibited by the state but people use it anyway because it offers freedom and a superior store of wealth; Venezuela is an illustration. Grey market crypto happens when a legal crypto is exchanged in an illegal manner, such as peer-to-peer trading that avoids a state’s tax requirements. White market cryptos are epitomized by state- or central-bank issued ones but also include crypto exchanges that comply with the state requirements on issuance and reporting; this latter form of crypto functions as an extension of the state, which is the antithesis of the free market and freedom.