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[–]AnarchySpeach 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (4 children)

Only problem with crypto is it's so difficult for governments to tax. They basically have to ask permission to tax it... which kind of defeats of the purpose of a tax if the majority of people are just going to opt-out.

And no government is going to accept auto-taxes collected from illegal stuff (or stuff they don't approve of) being sold, because that would be admitting they can no longer control the economy. If England or America accepted automatic payment from a 3rd party crypto-currency they couldn't control the entire world's economy would shift over night. Billionaires would be created and destroyed within hours. That kind of rapid-paced economy could bankrupt a country without warning if enough politicians went full retard at once... and because humans are humans, that risk is a very valid possibility.

Currency has been, and always will be, a tool used by governments to steal wealth. It's why art works so well. It uses the age-old method of bartering. Favor for a favor with a banana to legalize it.

[–]Tom_Bombadil 5 insightful - 3 fun5 insightful - 2 fun6 insightful - 3 fun -  (3 children)

Only problem with crypto is it's so difficult for governments to tax.

Um... That's actually not a problem.

It's a benefit.

[–]HeyImSancho 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (2 children)

I somewhat think since the NSA created the blockchain algorithm, that it's a false positive towards freedom. On that point, I recently read an article by 2 professors out of some Texas college, that were able to actually pinpoint the rise of bitcoin, from a single player out of a single exchange. The massive jump up from a couple grand, to 10 wasn't organic.

Now, I know there's a ton of information now that only serves to contradict; so as to create chaos, so take anything I bring up with a grain of salt, as it could just be what I'm reading(just like anyone else lol).

[–]Tom_Bombadil 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

I wouldn't be surprised if it was a state operation to sabotage/transition off of the dollar.

Even so, the idea has caught on, and clever people will find a way to make it work.

[–]AnarchySpeach 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

sabotage/transition off of the dollar.

That seems unlikely at the moment. I don't see much profit to be made by doing it... at least currently.