₿illy 's avatar
₿illy 1 year ago
All of these risks were known from the beginning. I never thought the mission of separating money from the state would be pulled off without extreme dangers. The reality is that governments adopting bitcoin takes away their ability to print money. If they can’t print money, government will need to be downsized by 95%. That essentially means their death. They aren’t going to go down without a fight.

Replies (3)

2.1Qa sats's avatar
2.1Qa sats 1 year ago
Good point. Maybe this is the reason for Dept of Government Efficiency. To pave the way for a future with balanced budgets? I don’t know, but now I’m wondering if America will ever be subject to unrealized tax gains on Bitcoin. I mean it’s not far fetched since we already pay property taxes on our houses. I think that’s horse shit. How did we get to this point that we can lose our home that we already paid for including taxes and using money that we earned after already paying income tax for not paying an additional annual property tax using currency that is continuously debased?
Inflation tax 2 to 5% per year. All other taxes that become more easy to enforce amount to 20 to 80%. Premature optimisation for the wrong thing. You'll need Monero to combat taxes.