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6 years ago by dallasrushing (53)
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Idea is great but I don't see governments giving up tax revenue.
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I think the idea is to make current governments obsolete in the current form. Of course they don't want to give up tax revenue...
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Hi @dallasrushing !
I believe this is possible when mass adoption starts and when the next global crisis crashes several fiat currencies. This is the time they will think about doing this type of thing.
This is when the biggest transfer of wealth can occur, when early crypto adopters see a large grow on their portfolio value.
Regards, @gold84
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The ideal situation would be no official govt but a voluntatryist society with small regions organizing themselves into a system of limited community governance at a local level. I am in favor of voluntary taxation and using blockchain for management of community resources and conducting community projects. I imagine that roads would be much cheaper to build and maintain if everything was done on the blockchain. Blockchain would also be useful to eliminate election fraud and would ensure freedom from corruption and sound money management among individuals chosen to manage community resources. The problem with this idea would be the creation of a centralized govt coin like a USD crypto that is managed by a govt. Our current federal govt in the USA where I am from is not only corrupt but bankrupt as well. Both political parties have proven they are tyrannical. A govt who is in control of a tokenized USD could freeze the purchasing power of political opponents, punish people for politically incorrect speech ect and do all sorts of horrible things to invade our privacy and micro manage our lives. Ugh no thanks. Unless the money supply of the community is decentralized, the system you are suggesting would be worthless.
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Governments will always need to tax. I like the flat tax system.
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