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> Bitcoin boom may be a disaster for the environment Probably the most important implication of this undeniable truth is that it's a ready-made justification f
by kcorbitt 9y ago
> Bitcoin boom may be a disaster for the environment
Probably the most important implication of this undeniable truth is that it's a ready-made justification for liberal governments to ban Bitcoin if it becomes sufficiently disagreeable to them. (It's a great justification for despotic governments as well, but they don't really need one -- one of the perks of being despotic!)
EDIT: I meant "liberal" in the classical, pro-freedom sense (as opposed to despotic), not trying to place governments on the liberal/conservative spectrum of contemporary American politics. I thought that was clear from the context.
- castle-bravo 9y agoWhy do you use the term liberal as opposed to something more general? I think the descriptor 'tax-collecting' might capture some of the reasons why a government might want to ban Bitcoin (if they could).
- s0rce 9y agoAlthough it might be harder to tax, since regular banks are mandated to do a lot of the reporting leg work for the tax collectors, is it really different than taxing other commodities like gold. If we can admit its not really a practical currency.