Vitalik Buterin on why degen communism is the only perfect political ideology

The legendary Vitalik Buterin recently made waves with a bold declaration: as of 2024, every political ideology we’ve leaned on in the West is outdated and failing. According to him, from the capitalists singing praises of tariffs to libertarians who’ve veered off their path of liberty, it’s clear the traditional frameworks aren’t cutting it anymore. And let’s not even start on the “new authoritarians” who aren’t exactly presenting a shiny alternative.

Out with the Old, In with the Degen

Vitalik didn’t just criticize the current state of affairs without offering a solution. He introduced us to a concept that at first might sound like a paradox – degen communism. This isn’t your grandparents’ communism.

Nope.

It’s tailored for the internet age, a response to our collective craving for a bit of chaos in the mix. Vitalik observed that the internet doesn’t want polite debates anymore. It yearns for decisive action and the thrilling uncertainty of risk.

But Vitalik was quick to clarify that this isn’t about promoting anarchy. It’s about strategically leveraging chaos for the greater good, making sure that while we’re all riding the high waves of risk, the fallout benefits society at large. He proposed degen communism not just as a set of ideas but as a practical ideology that could influence everything from cryptocurrencies to government policies.

The Crypto Connection

Speaking of cryptocurrencies, Vitalik highlighted how the crypto industry embodies the degen spirit, with its dramatic ups and downs. Yet, he pointed out that these fluctuations could be harnessed in a way that minimizes harm during downturns. Imagine a scenario where, in the face of a project collapse, the smaller investors are made whole first. Vitalik isn’t suggesting we beg the government for bailouts. Instead, he’s talking about a shift in how projects outline their terms of service to prioritize the little guy in tough times.

But it’s not all about safeguarding against the lows. Vitalik is also all for capturing the highs in meaningful ways. From donating a slice of memecoin proceeds to charity to encouraging projects to distribute wealth more evenly through airdrops, it’s all about aligning crypto’s wild heart with the public good.

Degen Communism Beyond Crypto

But Vitalik’s vision stretches beyond the crypto industry. He imagines degen communism reshaping government policies too. Take real estate, for example. Today’s market is a playground for the rich, thanks to outdated laws and restrictions. Vitalik’s take? Flip the script with land value taxes and more YIMBY (Yes In My Backyard) policies to make housing more affordable and equitable.

And don’t get him started on intellectual property. In a degen communist world, we’d see Harberger taxes on copyrights and patents, encouraging more open access and innovation. Plus, immigration policies would get a much-needed overhaul, focusing on expanding safe, legal pathways for people to move freely across borders.

At the center of degen communism is a democratic process that’s dynamic, inclusive, and quality-driven. Vitalik envisions a world where decision-making tools like pol.is and prediction markets help us find common ground and make swift, informed choices. It’s about embracing the chaos of human activity while ensuring the systems we build serve everyone, not just a select few.