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Governments can only limit exchanges, maybe fine or prosecute miners but they can't control the exchange market in other countries, they can't ban transactions
by SadWebDeveloper 9y ago
Governments can only limit exchanges, maybe fine or prosecute miners but they can't control the exchange market in other countries, they can't ban transactions between two peers, they can't takeover your funds and more importantly they can't issue more currency to paid their loans.
Sounds like a libertarian paradise but these also comes with double edge since it leaves his citizens without consumer protections, makes value speculative to trading volume therefore subject to foreign control and limits the government enforcing power.
The market is free, exchanges aren't.
- yeahsure 9y agoI'm talking about taxes distorting the market. A taxed market is not a libertarian paradise.
- SadWebDeveloper 9y agoyou are talking about taxes after exchanging cryptocurrency for a fiat currency, cryptocurrencies doesn't have taxes (well transactions cost kinda work like a community tax but in the real world there are also transactions costs and taxes), exchanging from crytpocurrency to fiat has. What stops you from exchanging your crytpocurrency to a fiat currency that doesn't impose taxes?
- yeahsure 9y agoGood point and I agree. That said I still don't think this would count like a true libertarian experiment because -like you point out- it is in the real world where you still have to abide by the rules of government/society. But yeah, this is probably the closest we have gotten to a libertarian test-drive through technology.