Monomaniacal libertarians often shake their heads in dismay on those unfortunate occasions when their beloved free market entities become monopolies which mysteriously compromise market options. Cryptocurrency is neat because it provides a market option to currency itself. The ultimate conceit of money is that it is designed to introduce an element of neutrality into social transactions.
Unfortunately, money can never be truly neutral, as the transactions which sustain the mechanisms of neutralization concerning currency always have behind them a metacontractual implication of sovereignty. Watch how people loose their minds when someone like George Soros decides to invest in Bitcoin. Anything which operates on a pretense of neutrality is not invulnerable to forces which would seek to steer it toward a non-neutral end. It becomes quite evident just how 'free' the free market is when the solution to a monopoly which earned its sovereignty within the bounds of market rules is to undercut it by creating a different market with different rules - each market is only as free as its respective subjects will allow each other to be.
The good thing about cryptocurrency is not that it solves problems but that it makes problems more honest. If anything, that is precisely the use of all libertarian ideology - it solves nothing but, arguably, makes everything more transparently chaotic. Cryptocurrency is compatible with the libertarian worldview in every way, as it constantly posits a sort of clean slate - an original Eden-like nature which man is capable of returning to if everyone could just do what they do now without initiating force. Cryptocurrency is only capable of being used for corruption if it gets into the hands of corrupt people. Funny, that.
Cryptocurrency, at the end of the day, establishes the opportunity for an economic exit into something else. But constant exit is not conducive to entering anything. Cryptocurrency may accelerate the delusion that each man's agency is equal or interchangeable. 'The problem is not that we're selfish, but that we aren't selfish enough' is an often repeated mantra of liberty fanatics. They don't care about archs, trends and patterns, but only particulars. They fail to realize that society can still be made a hell of a lot worse without anyone initiating the use of force. Cryptocurrency is, like many things, a tool, not a solution. It furnishes the same competitive spirit that we have now, only without the cumbersome relationship with representative government. Nevertheless, it is itself representative of a sovereignty of exclusion.
As usual with the concept of 'freedom,' what is actually being dealt with is often something whose description stops short of any real semblance of the situation at hand. A truly 'free market' is not the market in which there are no restrictions, but rather, the market in which a maximum number of restrictions have been put in place for the sake of enunciating human agency. The market must be made dead and lifeless so that man can do with it as he likes. In this way, it is like free love, free college tuition, free health care and every other free commodity; its quality is cheapened by its ubiquity.
Cryptocurrency is a faith-based religion, in which the messiah is not coming, but having his day of pentacost before he expires.