The Government Is Hunting Taxes And Crypto Can Provide That

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Governments love getting money. The thing with crypto, is while they express their dislike, can be a huge revenue generator.

In this video I discuss how the hatred by politicans could be a major mistake. With economies slumping around the world. and lots of promises made, they are facing the situation where they are going to need a lot of money.


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Nothing like spending tax money to try and find more tax money like what even is going on in this country anymore lol

While I agree it could be a huge income for them for crypto I still don't like them getting their hands in it.

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As Ilhan Omar so eloquently said, "It's All about the Benjamins baby!!!!"

And how true. The government exists to siphon wealth from the working and lower socioeconomic classes. Cryptocurrency democratizes access to finance, which then creates a larger pool of potential extortion targets by the IRS.

The reason any country will legalize commercial cryptocurrency use will be for taxation purposes, because, as you noted, economies are failing all over the world with no end in sight for many countries trapped in spirals caused by hyperinflation.

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Taxation is always at the top of the list. Control is also there. I guess they go together.

Either way, we need to keep pushing the technology via development.

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100% I am in favor of any user looking to do the bare minimum, to spin up local instances of whatever blockchain they like, and provide more redundancy on their respective networks - further distributing risk and lessening concentration on any singular provider

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That's true but they also keep tasking citizens from their own funds they pay them. But they have big hatred for crypto.

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That is true, but the main drawback is that they, the governments, want to be the controllers of that money and, since they do not have that power, they put all the obstacles or regulations, but if it is a large amount of money, what could they receive?

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They dont have control of the money now as it is. Sure they regulate the banks but they do what they want. Break a law? Who cares? Pay a fine and move on.

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