Democracy will allow Bitcoin to survive as long as that government system can control it.

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Avatar for francis105d1
2 years ago

Democracy is the best system of government up to this point in history. It is not the best, but it is the best we have right now, and that system gets represented a lot by the United States, but we are not the best nation either. The United States works has many other countries lacking in many different aspects. But United States' way of conducting business requires a lot of moving pieces, and one of those pieces is its currency being that the US dollar had lost a lot of its original value when it was pegged to gold.

Many dollars are being printed left and right, and many of those dollars end up funding the military not just of the United States but many allies. In Short United States economic system is corrupt in some way or form, enabling human suffering and who knows what else. That same system requires that Americans pay taxes even when Americans fought a war because of the same topic, and yet here we are paying taxes to a different King.

Our system is not the best; in reality, everything could worsen if another nation gets on top of the US. The United States is mighty, and it will force you to comply with its laws inside its territories and outside as well. And when it comes to taxes, it will seek you out like a missile seeks heat, and it will find its target. A lot of the economy in the US moves in cash, but it is not a lot of the real economy. Still, I believe that if the United States loses over 60% of its tax revenue, the government will seek that revenue until found and put those trying to evade that payment in jail.

Now that it enters Bitcoin BTC, we know that the community leaders there engage in censorship and believe they need the rich and powerful and their money to protect Bitcoin from the government. Could it be that Bitcoin supporters are really into something?

What if the only way for Bitcoin to be accepted is to be integrated into the current banking system. It promotes the usage of custodians for mass adoption because of the help of custodians who will report your every move to the government. They are already doing as I write this article. What if this is the correct way to make it and profit simultaneously.

Let's say you bought Bitcoin BTC at $50,000.00. Now BTC is accepted everywhere, thanks partly because of custodians and because the government knows those custodians will report you and your profits, and you will pay your taxes and whatever the US government says you must pay. You have made your money. You can sell it for more than what you bought it first. Would you give a damn if someone else is going not to love using a custodian?

Humans are selfish creatures, and we can see that every single day, day in and day out. That outlook will put coins like Bitcoin Cash that are trying to do peer to peer will be considered outcasts and persecuted, which will mean BCH will be in the losing part of the trade. Where will Bitcoin Cash end up if people adopt the centralized version of Bitcoin and accept it as if it was Bitcoin? And what if, in the future, peer-to-peer transactions are considered illegal by government decree.

Would the BCH community be ready to be sacrificed as an illegal thing that could potentially land you in jail? It is easy to say I will stick my neck out for Bitcoin Cash when you are not under any government threat of violence, but many minds change once the shit hits the floor. And I will be sincere with my reader at the first symptoms of troubles I am bailing out.

Wouldn't peer-to-peer mean governments will eventually starve out for financial revenue?

And wouldn't those same governments actively seek that revenue out and with violence?

Wouldn't it be wiser to work with the government instead of being against it?

I am just asking those questions and thinking about Bitcoin Cash and what future could be waiting for those of us who believe in peer-to-peer currency and what the future will bring. I know that the separation of state from church was not a walk in the park, nor was it peaceful. Am I wrong in this assumption?

I would like to see your opinion about this topic because I want to hear what others think about this.

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2 years ago

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I think working with government would be better than working against it, as it can put us in trouble.

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2 years ago

Peer to peer is the newest enemy of governments because they will lose huge money from taxes. Your opinion is definitely right. Will see what happens in the future. Good luck.

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2 years ago

I appreciate your support.

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