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RE: Blockchain can create a tax less economy

Hi Peter,

I don't disagree with your analysis. It may not be perfect but no expert has a complete handle on these matters.

What I will say is that currency began creeping into pure trading markets long ago. It's simply easier for the baker to make bread all day long and the rancher to heard cattle over the same time. When both go to market, they have what they need for a Phili Cheesesteak (the sandwich of choice in the city where the Declaration of Independence was signed and the Liberty Bell rests- also where much of National Treasure was filmed <sub>- just some amusement/been up a while).

Now, if Bitcoin can prove to be the most secure place to store data like intellectual property rights and proof of ownership...

  • And a fast cryptocurrency can revolutionize instant international payments while leveraging Bitcoin and leaving bank issued credit cards in the dust...
  • And smart contracts can facilitate the legal, ownership transfer, and regulatory measures needed for things like real estate, ...
  • Just one more thing would be needed for crypto to be useful as taxes...
  • Governments would need to tokenize themselves.

Government can feel secure by going blockchain because they are [supposed to be] representative of their citizens. And what government would not rather want silver itself over a Silver Certificate. Alas, people in power feel comfortable when keeping people down rather than lifting them up. Even those power brokers who are philosophically Christian are slow to deny themselves.

Certainly, blockchain going beyond a store of value depends on crypto being useful, like needing Ether to run smart contracts on Ethereum, or needing CHI for XAYA (Namecoin) operations, or buying EOS for CPU on EOSIO.

Cheers.. and hoping that the crypto industry becomes more than what the world sees of Bitcoin as a store of value. As for now, ETH, the best option to BTC, is way too inefficient.

Godspeed. Hope to connect more often.


 2 years ago  

Thanks marco