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No one says you shouldn't pay taxes, of course. But just think about what taxes really are. A group of people calling themselves "a government" claims it has th
by snitko 13y ago
No one says you shouldn't pay taxes, of course. But just think about what taxes really are. A group of people calling themselves "a government" claims it has the right to collect part of the created value to provide some products and services that they claim nobody else is able to provide at the same or better quality and price. And because the government not just offers those services, but simply orders people to give money (or go to jail), almost nobody is able to compete with government - if a consumer wanted an alternative, he still would have to buy this service from government and then put extra money for the alternative. Needless to say, people are reluctant to do that. That's why private schools are mostly for rich parents who can afford paying taxes and paying for a private school. That's why in Europe private hospitals are for rich people. That's why protection services are for rich people, but the poor get abused by government police force.
What Bitcoin is able to do is to break this vicious cycle. Of course, governments are not going to give up easily, but fighting a war against mathematics is arguably a bad idea.
As for 98% of BTC being controller by 2% of portfolios - same can be argued for almost any currency, that's the state of the world. The difference with Bitcoin is that although those players can shift the market, they have a lot less power than any government. They can't force me to buy from them. And they arguably didn't get their money by stealing it from others.
- atmosx 13y agoI think that the BTC 2% has the same power as a government inside their ecosystem, no responsibility (ethical or other) given the complete anonymity and thus can not be held directly or indirectly accountable in any way, while a gov can. The fact is that you know who runs the FED. You don't know who owns 95% of BTC in circulation. They didn't stole directly, but it's a perfect Ponzi scheme if they choose to liquidate their BTC overnight :-) ... They are in a position to create "money" out of thin air. Money issued by people trusting BTC. So there is no difference from a trading Wall Street crook who sells garbage stocks for gold to naive investors (calling Goldman Sachs)...