3 ms·
The ultimate value of a currency is: people with military control of an area require taxes and will accept taxes in their currency. It is legitimised by force.
by gaius 9y ago
The ultimate value of a currency is: people with military control of an area require taxes and will accept taxes in their currency. It is legitimised by force. Everything else flows from this. If a major government starts accepting your tax bill in BTC then it is real, and not before.
- whiskers08xmt 9y agoI wonder if Bitcoin is the perfect currency for the globalized world. I need currency to pay taxes to the state I currently live in, but if I'm a global citizen, not planning to be a permanent residence of any specific country, then doing my banking in a currency that can be easily moved, and can't be seized, is very valuable. Is the Fiat alternative keeping CHF in a Swiss bank account?