An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Michael Krieger — The 1% Has Started To Embrace Bitcoin - Why It Matters
This is a no-brainer. Large-scale money laundering. The push to delete cash to control crime is quickly being met by the rise in use of blockchain "currencies."
If the 1% shift into 'Bitcoin' then they are no longer hoarding state currency. And if nobody hoards in state currecncy then the budgets become balanced.
Bitcoin fanatics this Bitcoin is like Gold because it is 'mined' and limited in scope. Unfortunately they forgot that you can easily create another Bitcoin just by running the software again. So actually we now have dozens of crypto-currencies all vying for your investment, all creating coins like mad.
So let them launder their money and run off into the sunset. It doesn't matter once you realise that taxation is just an exercise in reserving resources for the public use. Once you get to that understanding, then there are other tools available that are more direct and far more effective.
The place to tax is the exchanges - and only back into the state currency.
1 comment:
There is an advantage.
If the 1% shift into 'Bitcoin' then they are no longer hoarding state currency. And if nobody hoards in state currecncy then the budgets become balanced.
Bitcoin fanatics this Bitcoin is like Gold because it is 'mined' and limited in scope. Unfortunately they forgot that you can easily create another Bitcoin just by running the software again. So actually we now have dozens of crypto-currencies all vying for your investment, all creating coins like mad.
So let them launder their money and run off into the sunset. It doesn't matter once you realise that taxation is just an exercise in reserving resources for the public use. Once you get to that understanding, then there are other tools available that are more direct and far more effective.
The place to tax is the exchanges - and only back into the state currency.
Post a Comment