I'm glad we are able to have a civil discussion about this even though we have differing perspectives. And I am glad someone agrees with you; but to say the government "has no claim on my cryptos" is a statement that will never stand up in a court of law or the IRS code. It does not matter that it is not backed by the US government; neither is gold, it is still categorized as a asset subject to capital gains. Go ask your tax professional.
But perhaps I may have sent a confusing message; allow me to clarify. I am not disagreeing with you. I am a fan of small gov. I am a fan of free market. I hate seeing my pay check cut in half from taxes. In an ideal world I would love to not pay and do what ever the hell I want. With that said, try to see it from my point of view. From a cost benefit analysis perspective, the potential consequences (in my opinion) out weigh the benefits. If I don't pay taxes everything could be fine, but I may also have to go to jail or pay backed taxes (I hear jail is not a good place to go).
LoL Ah yes! Good stuff! You have good points.
I'm dreaming big with blockchain.
I'm Imagining a world. Soon! Decentralized by the technology. We govern ourselves. Create something better. Then everyone just leaves the old one. No need for revolution with blockchain and similair or new technologies. We just build a better system. EOS and IOTA's Tangle are very interesting. Steemit is a great example of how blockchain can empower social media users and bloggers. Then there is D tube. I could go on with the machine economy that IOTA could/will create. The world is going to change fast. Foresight during this time could mean the difference between taxing yourself to death and opting for something decentralized. I and other's like me. Think it's starting now. It will also grow rapidly. Maybe I'm being too optimistic. What do you think?
I agree with you; however, I don't think its user friendly enough to be mass adopted yet. You and I get it... however, there is no chance in hell that my grandma can use crypto (I don't think she ever will). I think the most (but not all) decentralized systems are great. The user interfaces definitely need to be simplified for the computer illiterate. But yes, seeing governments legalize BTC as tender (Japan and Australia) and use ETH to tokenize systems (Singapore, Russia and China) clearly shows that this is the way of the future.
I like to say, its not sexy Yet. Just like the internet! Look at the changes on the net. Grandma probably doesn't use the internet much either. But I hear that overall point. I worry for the older generation. Baby boomers and older who are not technically inclined. I think they will be left with worthless fiat and no clue. Probably still paying taxes to a dead system. I'm hoping to teach old dogs new tricks. So Grandma and Grandpa can retire or stay retired. Can't even begin to have the tax debate with that demographic. lol
Yea, its a lost cause. And the majority of 40s-50s are way too proud to listen to someone younger than them. I tell them to buy some crypto. But they laugh and ask what stores accept bitcoin. By the time most stores accept bit coin the wealth transfer will be well under way. SMH.
I couldn't agree more! I have very similar experiences. Its too bad we cant teach all those old dogs. New tricks!