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That's just evil, but also, likely not terribly enforceable. It would just bring crypto back to its roots as a government resistant alt currency. Being uncontr
by reedjosh 5y ago
That's just evil, but also, likely not terribly enforceable.
It would just bring crypto back to its roots as a government resistant alt currency. Being uncontrollable was the whole point. Particularly regarding Bitcoin and Monero.
- lxgr 5y agoAt least at this point in time, if you control all of the on/off-ramps, you can very effectively make any cryptocurrency non-viable as money.
- reedjosh 5y agoI think it could slow adoption, but I've been primarily buying offline. Soon I'll have a lightning node too--improving my BTC privacy. Defi exchanges are the next major advancement to government resistance as well. This space would rapidly mature under government regulating away self custody.
- lxgr 5y agoIf all of that ends up working out, and considering no other restrictions are put in place: How are people going to pay their taxes? Being the exclusive currency accepted for tax payment is an important part of what makes fiat currencies money.
- matheusmoreira 5y ago> How are people going to pay their taxes The government is going to have to suck it up and accept taxes in cryptocurrency. In my country such laws have already been proposed.
- reedjosh 5y agoI love this. Yeah, they'll have to allow for off ramps or accept crypto for tax payments. I say have to as otherwise a rich private currency economy will grow unmolested by tax collectors.
- matheusmoreira 5y ago> rich private currency economy will grow unmolested by tax collectors Honestly I wouldn't mind that either. Governments in general are absurdly corrupt and taxes finance that corruption the same way drug users finance cartels.