Finance State's Endgame: Mass confiscation by taxation without redistribution
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I’ve thought about on demand cryptocoin and self-destructing cryptocoin for a while. The former gets us out of the speculation race which dwarfs actual usage. The latter is for emergencies like hurricanes and such. I’ve resisted demurrage because it assumes a middle class white privileged population. It would be a disaster for the poor, the sick, minorities. The state is the slowest evolving, most rigid institution and would not serve the outer edges of society. This is historical fact.
Well, it just got worse. The first customer for a payment processor (I have to find the link) will be the IRS. Knowing how economics 101 challenged some of the Store of Value crybabies are, they won’t see the danger of the IRS not redistributing. Why? Because they only understand send and receive dynamics. Feedback loops are alien and don’t mention changing incentives, they won’t comprehend.
We should prepare at some point to be trading microchains as well as coins.
Just a heads up. What do you guys think?
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Anyone dumb enough to pay any government anything in crypto-currency doesn’t really understand what this is really about. To me at least, this is about freedom from currencies used to enslave and control. The controllers have their paper, give to Caesar what is Caesars.
This is the peoples “money” (hate that word). And the speculators are just that, speculators, for the most part people who would prefer to speculate on anything for gain, then to actually produce anything, let alone anything of value. They will ultimately give their crypto to the IRS who will do what ever the IRS does with it?? If the IRS ever owes me anything and asks me how I want the payment? USD or BTC? I will respond with Huh? What’s BTC? Give me greenbacks. Which I will quickly trade for anything of value.
Perhaps BTC was a grand experiment by the government and international bankers to see how the people would even respond to a crypto-currency, disguised as a tool of freedom from their dying paper?? Does anyone really know Satoshi Nakamoto? Are these people beyond doing such a thing?
We will all get to see where this leads soon enough together. Zerodrama the link would be very cool. Thanks for posting this.
peace
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[url=http://www.forbes.com/sites/benkepes/2014/01/15/bitcoin-breaks-out-you-can-now-pay-the-irs-in-cryptocurrency/]http://www.forbes.com/sites/benkepes/2014/01/15/bitcoin-breaks-out-you-can-now-pay-the-irs-in-cryptocurrency/[/url]
