4 ms·

That's why Bitcoin is so powerful: they can't do anything about it and, if people choose to use it, the government has no choice other than accept it as the sta

That's why Bitcoin is so powerful: they can't do anything about it and, if people choose to use it, the government has no choice other than accept it as the standard.

preseinger 3y ago
a government that accepts tax payments in BTC would be abandoning its financial authority to the bitcoin network, over which it has no influence whatsoever this is suicidal for any nation with even a nominal amount of financial autonomy maybe it's something that failed states like venezuela or somolia would consider, but it's a complete non-starter for anyone else the idea that "the people" can force countries to accept tax receipts in BTC is absolute unhinged nonsense, read a fucking book
- rafaelero 3y ago
  > the idea that "the people" can force countries to accept tax receipts in BTC is absolute unhinged nonsense, read a fucking book Government money will worth shit if people stop putting their savings in it. Unless you think the US government will make it ilegal to possess BTC, then it is just a matter of time for people to migrate to a better store of value.
  - preseinger 3y ago
    the US government probably won't make it illegal to possess BTC, but it will never accept e.g. tax payments in BTC also, the instant there is a non-trivial amount of commerce conducted in US jurisdictions via BTC, you will immediately see aggressive counter-measures (lawsuits, criminal charges, etc.) from the federal government germany's minister of finance said it succinctly when there was this facebook libra thing going around > One of the core activities of a sovereign State is to issue a currency. We will not cede this task to private companies. https://gpil.jura.uni-bonn.de/2019/10/germany-opposes-facebooks-libra-currency-on-grounds-of-state-sovereignty/ https://gpil.jura.uni-bonn.de/2019/10/germany-opposes-facebo...

4 ms·

That's why Bitcoin is so powerful: they can't do anything about it and, if people choose to use it, the government has no choice other than accept it as the sta

by rafaelero 3y ago

That's why Bitcoin is so powerful: they can't do anything about it and, if people choose to use it, the government has no choice other than accept it as the standard.

preseinger 3y ago
a government that accepts tax payments in BTC would be abandoning its financial authority to the bitcoin network, over which it has no influence whatsoever this is suicidal for any nation with even a nominal amount of financial autonomy maybe it's something that failed states like venezuela or somolia would consider, but it's a complete non-starter for anyone else the idea that "the people" can force countries to accept tax receipts in BTC is absolute unhinged nonsense, read a fucking book
- rafaelero 3y ago
  > the idea that "the people" can force countries to accept tax receipts in BTC is absolute unhinged nonsense, read a fucking book Government money will worth shit if people stop putting their savings in it. Unless you think the US government will make it ilegal to possess BTC, then it is just a matter of time for people to migrate to a better store of value.
  - preseinger 3y ago
    the US government probably won't make it illegal to possess BTC, but it will never accept e.g. tax payments in BTC also, the instant there is a non-trivial amount of commerce conducted in US jurisdictions via BTC, you will immediately see aggressive counter-measures (lawsuits, criminal charges, etc.) from the federal government germany's minister of finance said it succinctly when there was this facebook libra thing going around > One of the core activities of a sovereign State is to issue a currency. We will not cede this task to private companies. https://gpil.jura.uni-bonn.de/2019/10/germany-opposes-facebooks-libra-currency-on-grounds-of-state-sovereignty/ https://gpil.jura.uni-bonn.de/2019/10/germany-opposes-facebo...