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Somebody made the point before, but bitcoin is great for the gov't. Because it allows it to have a complete record of your spending with enough warrants. Becaus
by rtpg 13y ago
Somebody made the point before, but bitcoin is great for the gov't. Because it allows it to have a complete record of your spending with enough warrants. Because at one point in the chain someone will have to turn the bitcoin into USD. The "anonymity" argument is useless because you'll get linked at the "get dollars" phase.
Obviously the idea is that if everyone uses bitcoins then nobody will use dollars, but in that case the gov't just decides to declare bitcoins currency, and tax things as usual.
In a universe where everyone is using bitcoin, the global economy will be pretty fucked though, considering that everybody would be in a de facto liquidity trap (since inflation would no longer exist). But so long as property tax exists, that issue might not come up.