Many commentators have been quick to note the revolutionary potential of Bitcoin 2.0 technology, with some even believing that it represents the coming of a decentralized autonomous society in which humans are freed from centralized forms of power and control. Influenced by neoliberal theory, these individuals are implicitly working on the assumption that 'freedom' means freedom from the state. This neglects that the state can also provide freedom from the vagaries of the market by protecting certain things from commodification. Through an analysis of (1) class and the role of the state; (2) the concentration and centralization of capital; and (3) automation, I argue that the vision of freedom that underpins Bitcoin 2.0 tech is one that neglects the power that capital holds over us. In neglecting this power, I claim that this technology might be far more dystopian than we comprehend, making possible societies that are commodities all the way down.Keywords: Bitcoin, Blockchain, Ethereum, Capitalism, State Acknowledgement: Many thanks to editors Andreas Roos and Vasilis Kostakis, as well the two anonymous reviewers for their comments and suggestions.
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