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tangential to the story, but can someone explain to me why the government hates bitcoin(or rather, why people seem to think this)? It's a public ledger of all p
by rtpg 13y ago
tangential to the story, but can someone explain to me why the government hates bitcoin(or rather, why people seem to think this)? It's a public ledger of all payments, seems like a pretty good thing for the IRS.
- gamblor956 13y agoThe US government doesn't hate Bitcoin at all. Indeed, the DoJ, FBI, IRS, and NSA love Bitcoin, especially the public ledger part of it. For some reason, libertarians really flock to Bitcoin, not realizing that it's the worst possible currency to use if you want anonymity. (Physical cash is easy to hide, but a digital currency will always be traceable with enough effort.)
- kylebrown 13y agoTracing a cash payment is trivial: you just watch the physical address where the payment is to be mailed or dropped. So for any business in which the customer can't be trusted (eg Silk Road vendors), cash won't work.