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The downvotes on this comment are confusing. Do people dispute that a cashless society would be a dream come true for the US government & Fed? Or that the US wi
by cloakandswagger 10y ago
The downvotes on this comment are confusing. Do people dispute that a cashless society would be a dream come true for the US government & Fed? Or that the US will do pretty much anything to protect its currency hegemony?
- comex 10y agoI would dispute that Bitcoin is likely to ever pose a threat to the US 'currency hegemony', at least as a currency in its own right rather than a glorified payment network with prices usually delimited in… US dollars. More practically, I would dispute that the US regulators' concern about Bitcoin has much to do with speculation on its potential to pose such a threat in the future, as opposed to its current suitability for tax evasion and popularity for money laundering, crime, etc. (Please note that I'm not claiming Bitcoin is only or primarily used for those things, only that people who want to do those things often use Bitcoin.) *edited to add tax evasion, which is of course the stated purpose in this instance...
- forgetsusername 10y ago>Do people dispute that a cashless society would be a dream come true for the US government & Fed? For all intents and purposes we are already cashless. But again, the government can't force you to use a specific medium for transactions, only what they will accept in taxes. If the system doesn't work for the people, the people will find away around it. That is guaranteed.