Time to have a coffee. Been on this god-blessed evil machine now for too long.
Trying to get my tax situation here in Japan figured out. How I am handling all of this stuff is of course nobody's business but my own, but I am only writing this today to say that all the talk about the "benefits of official adoption/government regulation/recognition" when it comes to cryptocurrencies, is basically bullshit.
As pointed out by @samstonehill recently, regulation, combined with state-owned mass media, is stifling and sapping the markets.
People, once excited and inspired by this new clean money technology, where the fruits of your labor are yours, and you can actually begin to crawl out of debt if you work hard, are now understandably losing a lot of that entrepreneurial zeal, as governments clamp down on exchanges, implement ridiculous and complex taxes, and undercut the true market by co-opting existing exchanges and setting up their own.
I live in Japan, where all crypto coins are now recognized as official currency.
Great! Say the naive blockchain and crypto enthusiasts, the revolution is here! Crypto will subvert the state. Wait a minute, I am thinking, don't you mean that the state is subverting the original meaning of crypto? Now all of your transactions will be tracked, taxed, and subject to millions of eyes of bureaucratic scrutiny. Is that the "revolution" you are talking about? Sounds like a fucking pathetic display, to me.
I remember when I could go to Tokyo just two years ago and pay for a lot of different stuff with Bitcoin, as well as use Bitcoin ATMs freely to withdraw Japanese Yen. Then the regulations came. All the ATMs that allowed for crypto->fiat transactions were ripped out/shut down/taken away, and now the only ATMs business can afford to have, if they can afford the licensing fees, are machines that go the other way. Fiat -> crypto. Some may ask, what's wrong with that?
Well, these machines are connected to major state-regulated markets. So much for the human dignity of privacy when it comes to financial matters.
Even Steem is subject to ridiculous taxes here. Up to 55%. Not only on income, but on every single decimal point of a gain made through trading.
You see, the industrious blogger, charitable activist, or burgeoning entrepreneur, once so excited and inspired by these technologies, now sees the state closing in, and the real story of Communistic, totalitarian oppression comes into view. The harder you work. The more successful you are. The more you will be punished. It is best just to depend on the state and do as little as possible.
In order for the tech to be "revolutionary," it must be used in a revolutionary way. This involves real risk. People don't like real risk, especially when the price demanded by the state is often one's life in the the form of financial ruin, jail time, or murder.
As I said, how I am handling managing my risk/benefit "relationship" with the state is my personal business. Suffice it to say, however, that not using these technologies at all as they were created to be used, won't get us anywhere beyond the current corrupt fiat power system already in place.
"Crypto," has a meaning. "Cryptography" does not exist to make things readily visible by all. That's the whole point. Human dignity. Privacy.
Like I said, I need that coffee. Maybe I'll put some whisky in it this morning, too.
~KafkA
Graham Smith is a Voluntaryist activist, creator, and peaceful parent residing in Niigata City, Japan. Graham runs the "Voluntary Japan" online initiative with a presence here on Steem, as well as DTube and Twitter. (Hit me up so I can stop talking about myself in the third person!)
@kafkanarchy84, privacy breach is there I think. In India, governments are not banning or accepting cryptos. They are taking their own time in thinking about the possibilities of Blockchain Technology. That gives us ample amount of time to promote this system to everyone we know. This revolution needs to be pumped with more fire and hopefully one day we will be free.
I think risk needs to be taken and if we want to beat the current system then as you mentioned, we use and promote these technologies. And help everyone to move ahead to attain Privacy and of course the human dignity :-D Cheers buddy! A great thought as an entrepreneur.
Amen, buddy. Well said.
I agree with you 1000000000000%
spot on buddy... the entire "steem economy" supposed to be private and inivisible hence non regualted by the state or anyone. As you pointed out already this will only force a major pullback in the end when restrictions are put in place. The only option I can think of in given situation is moving into a country with little or none restrictions of such... of course this is only a soultion for an individual however not for an entire community/ platform.
I would reccon you may add another zip of Whisky in your coffee. I will have one too :)
I wish that I could argue against you on any point, but sadly you are right. I have been using the ATMs here in the US, but only because I see it coming. I still believe in the tech, but the fact I am watching the CBoE positions and not gifting people anonymous gifts does not make me comfortable or excited.
Yep. This is it, in a nutshell.
We need to buy and sell in person.
Both parties get what they're after and nobody else need be involved.
Yep.
Stay strong. The path was never meant to be easy. Governments were timing their pounce. In my country, anyone having any kind of crypto transaction happening in their bank account, is flagged as terrorist funding suspect.
Wow! That's kind of ridiculous. I wish you well and stay safe out there. Seems like people are losing faith in crypto. It's going to take a nice push of acceptance in order for crypto to come back.
I never did understand the talking point of "crypto is a decentralized currency....etc..etc.." Yes the nodes are decentralized physically, but the ledger is central to every machine, node, and user in the network. The currency itself is the centralized medium of exchange that exists in the network. I knew that governments would look at the exchanges and nodes, realize that they all share a common record of transactions, and come for their pound of flesh. The crypto community will respond with " well that sucks, oh well, I am up %10,000 so.." and a new absolutely in-escapable money / tax harvesting system is born. Eliminate the cash at that point and it looks real ugly out there.
People need to stand up and resist any attempts by the criminal cartels called governments to force rules on these systems because they will surely change what is free and voluntary transactions now, into draconian transaction hell if they have the chance.
=)
I think XMR has the right idea.
Dammit Graham why you gotta burst all my bubbles of hope with truth and facts!?
Thanks for the info man, glad someone like you is actually there to explain the reality. RSTMD
Haha. Well, I still have a little hope for crypto, but it's gonna take some creativity to make it work for us.
Seems like a lot of people are losing faith in crypto. Even past bag holders. We must keep the revolutionary crypto fire alive!
O my God this much of tax on steem 55%, what is in our hands then. It really sucks
That is fucking pathetic... Govt is the biggest counterfeiting system we have... This shit should be abolished...
yeah it is kinda sketchy that they can just see everything, that has started to worry me a bit lol.
Very interesting post really enjoyed the post and all the great feedback you got you have a great feed keep it up 👍 just followed you have a wonderful week ahead
sure it sucks for the people who like that it is shady and secret but they only have so much money, regulation is good for the people who have large amounts of money because it reduces risk so that will bring the big money into the system.
There’s nothing “shady” about respecting human dignity.
There is something shady about money laundering and illegal drug/human smuggling and taxes do suck but evading them is still a crime and shady.
Taxes are money taken by force, in essence no different than a mugging.
Of course evil people use cryptocurrencies. Evil people use the internet and fiat monetary system as well.
None of this changes the fact that privacy is a human right, and that taxation is theft.
https://steemit.com/dmania/@funbobby51/people-in-colorado-be-like-zg1hbmlh-bqc6h
Refusing to pay for bombs to blow up infants overseas is shady? Huh.
just move to a country without an army of its own and see if you like their taxes any better ;)
Not an argument. Just because living in some hypothetical country without an army would be dangerous by your estimation, that still doesn't make killing babies moral. Gotta work on your argumentation man.
Japan does not have much of an Army does it? Lots of countries don't have any forces overseas, it would be pretty easy to find a country not involved in foreign infant explosions. You could move to Panama where they have no standing army.