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Taxes on USD are used to fund the military. I see long term value storage in Bitcoin with operational and privacy focused "cash" like crypto being pegged to BTC
by solosoyokaze 6y ago
Taxes on USD are used to fund the military. I see long term value storage in Bitcoin with operational and privacy focused "cash" like crypto being pegged to BTC as a way to choke the input funds to the US military.
- deleted 6y ago[deleted]
- lottin 6y agoWhy do you think it makes a difference whether Americans pay taxes in USD, JPY or wheat?
- solosoyokaze 6y agoI'm saying it's much harder for the US government to collect taxes from crypto. It's much easier to work with a bank to directly pilfer your account than for them to force people to hand over their private keys. The latter doesn't scale nearly as well as the former.
- hannasanarion 6y agoSo you're saying that the only benefit of bitcoin is that is is useful for committing crimes. Gotcha.
- lottin 6y agoSure, and it's even harder to collect taxes from cash transactions. The thing is that with or without Bitcoin you still need financial institutions, so I'm not sure your tax evasion plan is as brilliant as you think it is.
- jcranmer 6y agoI had originally figured that you believed that a government would forego its fiscal policies if a monetary crisis ensued, the general assumption for most aficionados of the gold standard (albeit one that is thoroughly disproven by history). The way the government forces you to make good on your tax obligations is wage garnishment: they tell your employer not to pay you but pay the government instead because you're in arrears. In general, I think you overestimate the willingness of third parties to become criminals for your sake.