4 ms·
I'm not saying hiding BTC is easy now or will ever be cheap and simple, but it's certainly possible to automate and optimise security measures a lot and there w
by oleganza 13y ago
I'm not saying hiding BTC is easy now or will ever be cheap and simple, but it's certainly possible to automate and optimise security measures a lot and there will be a lot of apps doing exactly that. Right now the cost of taxation, inflation and bailing-in is very-very low and hurts most innocent law-abiding citizens (not everyone loves how the taxes are spent, but they are easy to extract anyway). With Bitcoin, huge chunk of money can safely sit in private wallets instead of bank accounts, thus making fractional reserve banking less relevant, bail-in becomes irrelevant too. Those who wish to not declare some income have much safer way to receive/send money, than with modern banking system. Most outstanding tax-evaders will be chased and caught, but 99% may safely enjoy their own little share of global black market without worries. They already enjoy local black market when they pay in cash for lots of things, but it'll expand with Bitcoin to the whole world.