4 ms·

This is true, but unless one feels that he/she should not need to pay taxes, it's reasonable for the IRS to demand records from a firm operating in the US that

This is true, but unless one feels that he/she should not need to pay taxes, it's reasonable for the IRS to demand records from a firm operating in the US that would allow for very quick and efficient tax enforcement. They already do it with banks, etc. While I'd like to see much lower Federal taxes and no more expensive wars of aggression, I don't think there is a principled reason to oppose the IRS doing this very basic audit of tax compliance. After all, the ease of doing an audit is a major feature of a public block chain, and KYC requirements were not introduced by accident. Early adopters of BTC who still use it (or aspire to use it) in an economy that still relies heavily on fiat currencies need to expect this sort of thing to happen. Yes, it's heavy handed but so is everything about the IRS and our massive Federal war/propaganda machine. I suspect Satoshi would have randomized BTC transactions to make the audit impossible but for his anticipation of this transitional phase when fiat regulators have the power to compel firms to disclose non-cryptographically-secured information and link it with KYC data. What can we do? Let's hope that enough of the useful organizational structures found in fiat currencies come to exist for crypto-currencies. Things like insurance markets, dispute resolution, consumer credit, etc. To date most of the benefits of BTC have been related to the ease of sending and receiving funds securely, but there are many more benefits to come as new institutions and mechanisms for cooperation come to exist via blockchain technology that require less trust and authority and less overhead.

lostboys67 9y ago
so you think going back to pre 1900 isolationism will work let alone the moral issue of abandoning the USA's role in the world is a good idea. I suppose Liz II could take you back and put Prince Hal in charge :-)
- grandalf 9y ago
  Not isolationism, simply democratic approval for the scope, budget, and success criteria of military action, and an honest discussion of national interest that doesn't involve fear mongering or appeals to xenophobia or racism. And while I personally view the doctrine of American Exceptionalism as a sort of evil religion that causes much worldwide suffering, I could tolerate it if there was a corresponding definition of national interest that could be used to assess the claims of our political leaders. Its not a choice between the modern massive federal\military bureaucracy and serfdom.
  - lostboys67 9y ago
    Not fucking up and have you president do your version of Suez id rather USA have a role on the world stage than welcome our new Mandarin or Russian speaking overlords
    - grandalf 9y ago
      The strategic decline of the US relative to China and Russia over the past few decades has been due mainly to the massive cost of the American bureaucratic state. Both nations spend pennies on the dollar and cause our hawks to bluster embarrassingly as they flush our prosperity down the drain. At least in the case of Russia, this was the objective from day one. The US is strategically weaker today (in terms of alliances, power projection, public support for wars and ability to handle multiple fronts) than it has been at any time since achieving superpower status. We've seen a massive slide toward authoritarianism over the past few decades as well, with an emphasis on "us vs them" beliefs and other childish mental habits that have become mainstream.

lostboys67 9y ago

so you think going back to pre 1900 isolationism will work let alone the moral issue of abandoning the USA's role in the world is a good idea. I suppose Liz II could take you back and put Prince Hal in charge :-)

grandalf 9y ago
Not isolationism, simply democratic approval for the scope, budget, and success criteria of military action, and an honest discussion of national interest that doesn't involve fear mongering or appeals to xenophobia or racism. And while I personally view the doctrine of American Exceptionalism as a sort of evil religion that causes much worldwide suffering, I could tolerate it if there was a corresponding definition of national interest that could be used to assess the claims of our political leaders. Its not a choice between the modern massive federal\military bureaucracy and serfdom.
- lostboys67 9y ago
  Not fucking up and have you president do your version of Suez id rather USA have a role on the world stage than welcome our new Mandarin or Russian speaking overlords
  - grandalf 9y ago
    The strategic decline of the US relative to China and Russia over the past few decades has been due mainly to the massive cost of the American bureaucratic state. Both nations spend pennies on the dollar and cause our hawks to bluster embarrassingly as they flush our prosperity down the drain. At least in the case of Russia, this was the objective from day one. The US is strategically weaker today (in terms of alliances, power projection, public support for wars and ability to handle multiple fronts) than it has been at any time since achieving superpower status. We've seen a massive slide toward authoritarianism over the past few decades as well, with an emphasis on "us vs them" beliefs and other childish mental habits that have become mainstream.