Bitcoin SV [BSV]’s Craig Wright: Crypto-markets need a solid rule of law

2018-12-20

Dr Craig Wright, the Chief Scientist at nChain and one of the proponents of the Bitcoin SV [BSV], popularly known as Faketoshi, informed his followers and the crypto family of the importance of having laws and government in order to have “economic freedom” in a recent twitter thread.

Wright took to his Twitter handle and said:

“Economic freedom requires law. Law requires a state. There is no order in anarchy. There is no capitalism without order. There are good and bad government. As there is good and bad people. Systems matter.”

This is not the first time Wright has spoken against anarchism. While he talked about the presence of government, Roger Ver, Chief Executive Officer of Bitcoin.com and a proponent of Bitcoin Cash, has often talked about the absence of government and its benefits.

Ver once Tweeted:

“No country has ever failed from too much freedom. Plenty have failed from too much government.”

However, he faced backlash for this tweet from people pointing towards countries who are not doing well without proper governance. Wright too had shared a post which looks like Roger Ver’s account saying that he will not “let fools mislead SV”.

Source: Twitter

Wright did not stop with one tweet on why the presence of government will benefit the crypto space. Wright went on a tweet storm asking people to ponder over how a system which lacks governance can lead to chaos if even a democracy, where people have a say, cannot cause a change.

This tweet postulates that if the common assumption of people is that democracy, which considers the population’s wishes, is wrong, then anarchy will not be a benefit too.

Wright explained this by bringing the market into the picture. He tweeted:

“Markets work where they are controlled well. The rules need to be clear The rules must apply equally to all Rule of law needs a state Markets need the rule of law”.

Wright took a shot on people who call themselves “libertarians” and said that they are against property and seek chaos. He also called them “insidious”. On a different thread, Wright said:

“Information does not want to be free Free information is data Data without cost has no value Information should be available for its optimal cost”.

Wright also added that Bitcoin will not make things free, but will allow everything to be priced. He called out names of people who believe in one law. Wright added: