Bakunin describes what a putrid "Net State " might look like

[pro2rat at yahoo.com.au]

>From 1872!
The reasoning of Marx ends in absolute contradiction. Taking into account only the economic question, he insists that only the most advanced countries, those in which capitalist production has attained greatest development, are the most capable of making social revolution. 
These civilized countries, to the exclusion of all others, are the only ones destined to initiate and carry through this revolution. This revolution will expropriate either by peaceful, gradual, or by violent means, the present property owners and capitalists. To appropriate all the landed property and capital, and to carry out its extensive economic and political programs, the revolutionary State will have to be very powerful and highly centralized. 
The State will administer and direct the cultivation of the land, by means of its salaried officials commanding armies of rural workers organized and disciplined for this purpose. At the same time, on the ruins of the existing banks, it will establish a single state bank which will finance all labor and national commerce.

It is readily apparent how such a seemingly simple plan of organization can excite the imagination of the workers, who are as eager for justice as they are for freedom; and who foolishly imagine that the one can exist without the other; as if, in order to conquer and consolidate justice and equality, one could depend on the efforts of others, particularly on governments, regardless of how they may be elected or controlled, to speak and act for the people!
 For the proletariat this will, in reality, be nothing but a barracks: a regime, where regimented workingmen and women will sleep, wake, work, and live to the beat of a drum; where the shrewd and educated will be granted government privileges; and where the mercenary-minded, attracted by the immensity of the international speculations of the state bank, will find a vast field for lucrative, underhanded dealings.

There will be slavery within this state, and abroad there will be war without truce, at least until the “inferior” races, Latin and Slav, tired of bourgeois civilization, no longer resign themselves to the subjection of a State, which will be even more despotic than the former State, although it calls itself a People’s State.

Mikhail Bakunin 1872

The reasoning of Balaji also immediately ends in absolute contradiction.

https://marxwords.blogspot.com/

New Statesman Balaji Srinivasan, venture capitalist and former CTO of Coinbase, has highlighted the real purpose of Bitcoin and its implications for geopolitical and financial issues. Srinivasan stated that Bitcoin at its core is a “political revolution,” because it challenges the centralized states’ business model, and the change brought by it will be fought by states who will try to seize it.