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For now, the law is on a collision course with technology. Taxable events need to happen in fiat, there is too much incentive to obfuscate these events on bloc
by kneel 9y ago
For now, the law is on a collision course with technology.
Taxable events need to happen in fiat, there is too much incentive to obfuscate these events on blockchains.
Transactions in cryptocurrencies will become increasingly hard to trace.
I'm not sure governments know what they're up against.
- TeMPOraL 9y ago> I'm not sure governments know what they're up against. Oh, they know. Bunch of idealists who are also pretty bad programmers with delusions of understanding finance. Plus a lot of scammers, and even more gullible people who just want to get rich quickly. Nothing governments can't handle when they eventually start caring.
- kahnpro 9y agoYup. Everything old is new again. Governments aren't facing any new problems here... while crypto can be moved faster than cash, I suspect that in the end governments may end up with even tighter control of crypto than they ever had with cash.
- kneel 9y ago>I suspect that in the end governments may end up with even tighter control of crypto than they ever had with cash. I'd LOVE to see a govt try to control cryptocurrencies, the thought is laughable.
- garmaine 9y agoThe whole point of bitcoin is that there is no mechanism by which government (or any other actor) could exert such control.