mikedilger on Nostr: I'm going to make some observations now that I've been thinking about it all day and ...
I'm going to make some observations now that I've been thinking about it all day and I've read your responses.
BITCOIN IS A STORE OF VALUE THAT AVOIDS THE SCAM OF PRINTING DOLLARS. There are other stores of value, but bitcoin is one too.
BITCOIN IS GREAT FOR LONG DISTANCE ONLINE PAYMENTS. Probably the best argument for bitcoin I think I've heard. Better than cash since cash loses value from money printing at unpredictable times.
BITCOIN CANNOT BE SHUTDOWN: The people with good operational security cannot be stopped from participating in the bitcoin economy. But the vast majority of people will not and practically cannot have good operational security. And so this may bound bitcoin's growth. If people can come up with easy to use high-op-security systems for the masses (where the govt doesn't even know people bought the device, for example, which IMHO is unlikely but this is theory so...) then that could alleviate such a road block.
GOVERNMENTS HAVE OTHER WAYS OF FUNDING: As for governments taxing income and transactions, it does not have to be like that. Tracking all the finances of everybody, doing accounting, filling out tax forms, this is a massive drain on the economy. If governments found another way to fund themselves, people could become much more productively employed. But of course accountants will fight for their jobs. IMHO government can be funded through a combination of tarrifs, user fees, property taxes, and flat rates (and I'm probably forgetting something). It is certainly a possible endgame that bitcoin is the thing that forces governments to come up with an alternative way to fund themselves. And if that happened, I would be a bitcoin worshiper.
All I'm really sure of is that governments will always be with us.
The world does not have to keep operating like it has. New ways topple the old way all the time. Certain things will always be (human nature, game theory) but specifics can be changed.
BITCOIN IS A STORE OF VALUE THAT AVOIDS THE SCAM OF PRINTING DOLLARS. There are other stores of value, but bitcoin is one too.
BITCOIN IS GREAT FOR LONG DISTANCE ONLINE PAYMENTS. Probably the best argument for bitcoin I think I've heard. Better than cash since cash loses value from money printing at unpredictable times.
BITCOIN CANNOT BE SHUTDOWN: The people with good operational security cannot be stopped from participating in the bitcoin economy. But the vast majority of people will not and practically cannot have good operational security. And so this may bound bitcoin's growth. If people can come up with easy to use high-op-security systems for the masses (where the govt doesn't even know people bought the device, for example, which IMHO is unlikely but this is theory so...) then that could alleviate such a road block.
GOVERNMENTS HAVE OTHER WAYS OF FUNDING: As for governments taxing income and transactions, it does not have to be like that. Tracking all the finances of everybody, doing accounting, filling out tax forms, this is a massive drain on the economy. If governments found another way to fund themselves, people could become much more productively employed. But of course accountants will fight for their jobs. IMHO government can be funded through a combination of tarrifs, user fees, property taxes, and flat rates (and I'm probably forgetting something). It is certainly a possible endgame that bitcoin is the thing that forces governments to come up with an alternative way to fund themselves. And if that happened, I would be a bitcoin worshiper.
All I'm really sure of is that governments will always be with us.
The world does not have to keep operating like it has. New ways topple the old way all the time. Certain things will always be (human nature, game theory) but specifics can be changed.