Net Neutrality is a Lie — Let the Free Market Reign

Net Neutrality is a lie.

There is nothing neutral about government regulations on internet service. There is a tremendous amount of propaganda circulating about this topic, and it is mind blowing some anarchists support government regulations on the provision of internet.

These people argue that ISP corporations will control everyone and charge exorbitantly high prices for internet. These nefarious companies will also implement massive censorship campaigns and other dastardly deeds in the absence of regulation, say net neutrality proponents.

This type of fear and paranoia is rampant. However, all of the armchair central planners forget the beauty of the free market.

The Consequence of Government Mandated Price Controls on Internet

When governments are not controlling prices and setting ISP standards, new industry entrants emerge. However, when internet service is determined by artificial prices, scrappy startups are disincentivized from engaging in the market and innovating beyond the current infrastructure.

This is why Comcast, Verizon, and many of the traditional internet providers have secretly or openly supported net neutrality. They know with regulations in place, they will not have to worry about being out-competed for better prices regarding the provision of internet services. It's basically monopoly given to bureaucratically entrenched internet providers. See Jeffery Tucker's talk on the Corbett Report for more details on this tragic scenario:

Tucker further elaborated on this issue in his article called "Goodbye Net Neutrality; Hello Competition."

With market-based pricing finally permitted, we could see new entrants to the industry because it might make economic sense for the first time to innovate. The growing competition will lead, over the long run, to innovation and falling prices. Consumers will find themselves in the driver’s seat rather than crawling and begging for service and paying whatever the provider demands.

With net neutrality abolished, the market will once again reign supreme, and the creativity of entrepreneurs will begin to flourish.

The Modern Technological Ecosystem

This move toward freedom is extremely important for our current technological ecosystem.

Humanity is entering into the age of internet 3.0, artificially intelligent systems, and blockchain-based wealth creation. If the internet is constrained by violence-backed regulations, it may not be able to keep pace with the decentralized, smart technologies that are emerging. The internet must remain free for exploration, and this includes provision of the internet itself.

How Blockchain and Bitcoin Will Welcome the Repeal of Net Neutrality

Many people have asked me how the revocation of net neutrality will effect blockchain and bitcoin. I believe the recent news of repealing net neutrality will open up fintech sector for more growth and innovation. In other words, this move will set a fantastic precedent for the future of blockchain.

If barriers to entry are removed for provision of the internet, it means that internet itself will likely be deployed in new, efficient, and marvelous ways --- thereby bringing the boon of blockchain to thousands of people who do not receive any financial services.

For example, with onerous regulations abandoned, blockchain startups like Nexus may be able to experiment more readily with launching cubsats into space and deploying mesh networks to everyone from orbit. If the previous bits of red tape were still in place, this would be a difficult task to accomplish.

Nonetheless, plenty of government red tape still exists, and it will still be a challenge for market actors to innovate in a world full of regulations --- but the removal of net neutrality is a positive step in the right direction. Viva la free market.

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Sterlin Luxan is a visionary thinker, cryptocurrency junkie, connoisseur of psychology, an MDMA high priest, and the Mr. Rogers of Anarchism. He writes for bitcoin.com, runs a consultancy business in the crypto space, and is a public speaker. He created the doctrine of relational anarchism and contributes to many causes in the thriving liberty ecosystem.