But I am. If there is an entire ecomony running on a system that the government can't control - then they (the government) have already lost. No one would touch a CBDC.
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littlebabyjesus
one of Maxwell's demons
So how do you fund the NHS?
We're getting a bit circular here now. Either governments can collect taxes or they can't.
btw it is laughable that such an idea could do anything to somewhere like China. You underestimate the power of the state by several degrees of magnitude.
I've told you many many times what the point of it all is.So much for permissionless, anonymous transaction systems, then. Third party involvement is necessary after all.
What's the point in any of this?
It's a journey. Eventually the whole business of taxation would be decentralised.
littlebabyjesus
one of Maxwell's demons
How?
We are circular, because you're not listening and you're twisting things.
Crypto profits should be paid as captial gains unless your wages are paid in crypto, in which case you would simply declare it self-employed earnings.
In both cases, OUTSIDE of crypto, the government doesn't collect taxes, people declared how much they made and pay up.
It's the same inside crypto.
Your point re China, you said "such an idea" - what idea?
Because the government could provide an array of smart contracts that we can send money to as and when we make money from within DeFi (For example) ... and before you ask ... we can still pay our taxes using GBP stablecoins to stop people's heads from exploding.
littlebabyjesus
one of Maxwell's demons
Why would a government do that?
It would increase their tax revenue if it's easier for people to pay.
Storm Fox
Trying the find the next noun to verb
In the UK we are taxed as we earn, the vast majority of people do nothing to pay taxes. So Crypto will only add to the complexity.
Also up thread, you said to prevent people from having to have a government Token you could have multiple wallets. so given that how are all these taxed?
littlebabyjesus
one of Maxwell's demons
But they've already gone to the trouble of creating a unit of account and making everyone pay them using that unit. Indeed, that's a major plank in their power base. That and guns. And the ability to provide things like the NHS.
littlebabyjesus
one of Maxwell's demons
Paying tax is easy. Not paying tax is the tricky bit. And the bit crypto is useful for.
China is a real thorny one. I doubt that crypto can fix that one, least not in the short term. If crypto were to defeat the Chinese Communist Party then it would be through accident.
How is it possible to make life difficult for the leadership and not normal Chinese citizens? I don't have the answers to that one I'm afraid.
Shippou-Sensei
4:1:2.5
This is the point I was trying to make. Crypto is not a magic solution to the problem posed by governments.
Not paying tax is easy for anyone who earns any money outside of a job.
However, getting away with it is very difficult, especially if the evidence is written to an immutable blockchain forever.
littlebabyjesus
one of Maxwell's demons
This is all starting to sound very authoritarian.
And what happens when mistakes are made on the immutable blockchain? Trust the code? We can already see where that gets us. No thanks.
That's like presenting dead people as evidence that medicine doesn't cure illnesses.
Crypto can't topple an authoritarian govenment in short period of time, but it is the most useful tool for ensuring that a democratic government can't consilodate centralised power to the point that being totalitarian is a viable option on the table.
Storm Fox
Trying the find the next noun to verb
So either Crytpo is either going to allow governments to crack down tax evasion or be so liberating that governments have no control over the citizens and eventually allow them to overthrow the government.
It's not authoritarian if the playing field is level. No one has authority!
OK. Real world mistake example:
You wake up in the morning and you find that there is £200 in your bank account from "A McCarthy" - unsolicited - you have no relationship with the women.
So you phone the bank. They tell you that the money was indeed sent to your account.
Now if you want to know even the details of the bank that it was sent from (They'll never give you the bank account details for privacy reasons) - you'll have to pay them £80
No one in their right mind is going to pay £80.00 to find out that just to return the money. Would you send them £120 minus the £80? What if they are prepared to fight out of principle for the other £80?
Equally, on the other end of that, "A McCarthy" has to go mess around, possibly spending money, just to get her bank to contact your bank for your bank to ask you if it's OK to reverse the money.
So there it sits for a number of months.
In the crypto world - if someone sends me money by mistake, I can return it back to them the second I see it.
No one sends me money by mistake in the crypto world because unless they copied and pasted my rather long address by mistake, no free money for me!
But anyway, people see mistakes that humans made on the blockchain all the time. A lot of time it's solved by simply sending the money back.
You may argue that relies on honesty - yep it does. However, if you was to send money to someone by mistake in banking system, you're relying on their honesty to get it back.
If it's a large amount of money and they are in the UK, then you can use litigation - but then again, with crypto you can also use litigation if you know the receiver is in the UK.
Also, if you send money to someone in crypto by mistake, it becomes very apparant very quickly whether they are going to be honest or not - because they will return the money. If it's sat in the crypto account, (You can see that because it's a public blockchain) then they haven't seen it yet - but hell you could even send them a message saying "Help I sent by mistake and I need to eat!!!"
With banking, you have no idea whether they are going to be honest or not. You don't know if they've moved the money out - until you've already spent a Kings ransom on litigation.
Shippou-Sensei
4:1:2.5
A McCarthy had all their bitcoin stolen when the exchange was hacked so she can't send you £20.
Crypto doesn't allow governments to crack down on tax evasion. It doesn't help people avoid taxes either. if the government wants to, it can make it easier for crypto users to pay their taxes.
I don't see why I or anyone else would want to overthrow a government if it were so benine that it has allowed such freedoms.
Well that would teach her to use a centralised exchange.
I use decentralised exchanges. I do however have a Coinbase Visa debit card with a small amount of ETH on it. If that were ever to be hacked I would be gutted. ... for about an hour.
Methinks that CryptoBros essentially take their ideology from an old-style, Ayn Rand type neo-liberalism.
Ponzi schemes have come and gone and will always prosper in the short term for some.
I think the ideology is outdated and very distasteful.
But then I'm just an old, mangy bitch so what the fuck could I possibly know?
Woof
Ponzi schemes have come and gone and will always prosper in the short term for some.
I think the ideology is outdated and very distasteful.
But then I'm just an old, mangy bitch so what the fuck could I possibly know?
Woof
NoXion
his soul is marching on
It's the same mistake made by the sovereign citizen fools.
Storm Fox
Trying the find the next noun to verb
If crypto won't let governments crack down on tax evasion and very few Crypto fans are going to pay tax voluntarily, how does crypto help with collecting taxes?
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Many many many software developers, particualy those who deal with APIs - are sick to the back teeth of investing their time into an API for the company that runs the API service to monetise it to the point of it being no longer financially viable for the developer, having features withdrawn, or even worse the entire API mothballed with a couple of months notice.
Developers have had their fingers burnt time and time again by building their products on top of products owned by other products.
Sure, opensource communities running products can sort this, but they can be bought up.
When someone launches a smart contract on the blockchain - unless there is a selfdestruct function, it's there forever.
So.... developers are over the moon when the penny drops - they are building on-top of stuff that is rock sold - it's not going to be withdrawn, dissapear or whatever...and what they build is going to be around forever.
Furthermore, it's not just an immutable blockchain.
It's Web3 - built on a distributed and secure file-system called IPFS.
And yup there are services built on top of IPFS.
Which means it's possible to create a website based on Web3 that will be around long after we're all dead.
That might not mean much to you. But when you've wasted your time on various projects for them to go up in smoke because human beings can be cretinous, then yeah, there's many reasons why they are flocking to Web3 and their enthusiam can't be squashed by simplistic claims of "It's a ponzi" by people who clearly haven't researched the subject.
If you're old fashioned. Fair enough.
There would have been a time when you mocked computers and internet as for geeks, but here we all are.
Remove the needlessly sexist language and I'll care to humour you with an answer! - eta thanks for removing.
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Storm Fox
Trying the find the next noun to verb
Done.
I rest my case!
Welcome to Urban75 CryptoGirl, enjoy your stay.
As long as you pay 75% tax on all your income, I'll be the first to flag-wave your shenanigans.
Until then, you're a Nihilistic fucking parasite.
Disgusting.
Keep your senses around you peeps, we have a live one here.
Yet another parasite!
Go well peeps.
Look after each other.
Woof
Shippou-Sensei
4:1:2.5
Given the lack of posts anywhere else I'm thinking either a shill or a kool-aid drinking true beliver.
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