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That is kind of like saying, "Good luck collecting taxes!" At some point you need to exit the Bitcoin system -- maybe you need your nation's currency, maybe yo
by betterunix 13y ago
That is kind of like saying, "Good luck collecting taxes!" At some point you need to exit the Bitcoin system -- maybe you need your nation's currency, maybe you need a new computer, maybe you just need to buy your lunch, but regulations can and mostly certainly will be enforced at the exit points.
- jaekwon 13y agoI'm sure people used to say the same thing about the dollar or bank notes, and exiting to the underlying asset like gold. It is possible to remain within the Bitcoin system. It may be difficult now, but it's getting easier every day.
- betterunix 13y agoAs long as the government is collecting taxes, and as long as you cannot make tax payments with Bitcoin, you cannot remain within the Bitcoin system. Even if all your other transactions are done with Bitcoin, you'll eventually need to get some dollars to pay your taxes -- and then you'll be hit with regulations. As for gold versus paper money, the above reasoning does not apply. Paper money is accepted for tax purposes (and would be far less popular if it was not).
- deleted 13y ago[deleted]
- stinkytaco 13y agoThe Bitcoin community is so speculative right now. From the people who are interested in the technology and where it might go and what problems it solves to the people who want to be free from central banks to the people who are just trying to get rich. It sometimes feels like the Bitcoin community has forgotten what currency is for: spending. And if you spend it, someone can regulate it.