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Let's see the government picture.

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Written by   161
1 week ago

To start this article we will start with El Salvador. I have a report from a family living on ground zero that they have not been able to register and those who register early have not been able to spend their money, thanks to the serves being out of reach, I guess when it comes to government that what you should expect, they offer awful services that at the end you can't use. The very day Bitcoin went live in El Salvador the price dump really nice, so probably is for the best that the wallet is unusable so that people don't use their free airdrop right now and give a $5 discount. My family has reported for when it was online that you can only deposit BTC on-chain and withdraw on-chain, and the free transactions are not running on Lightning Network they are just moving on the private ledger, meaning that people will be track because you send Chivo to Chivo you will need their government ID number or the phone number, you can send to their BTC address but that will mean you will pay the full BTC transaction fees. That can change in the future. Can you imagine Salvadorians paying $20 in transaction fees?

In the United States, the SEC is messing up with Coinbase and telling them they will get sue if they try to offer lending and interest capabilities to users in the USA, of course, that is to protect Americans. The only question is what Americans is SEC protecting and from what, because Celsius and Nexo are already offering those services and they don't seem to be having any issues. Could it be the SEC is playing favorites, and only getting in the way if companies have enough money so that they can shake them up? What I mean is Coinbasee being sue by the SEC just because they have money and the SEC wants a piece of the pie. Pretty much that will mean they are blackmailing Coinbase just because they can, I am not defending Coinbase I am only expressing my opinions, and I don't have an account with Coinbase either, nor getting pay by them to defend them.

Meanwhile, the whole Biden administration is trying to seek revenue wherever they can find it and now they want to have more data from centralized institutions like banks. Pretty much they want banks to tell the government your inflows and outflows for every single American, and that will violate privacy for all Americans, I guess they are so desperate because the ultrarich are not paying a single penny so now the US government wants more blood from the already bleed population. And they think that the crypto market will be their next sacrificial victim. They are coming for your crypto gains.

Governments around the world will start to implement digital fiat because they want to have total control of the population, once you lose the cash aspects of fiat you will have a government that will know every economic move you make. China is the biggest on this because they already have digital money and a digital score, and if your score is not high or as they want it you don't get to move around. In the future this will be your new deal, repeat the government line or starve to death. Right now your deal is work or you will starve to death, but if you are lucky you can get out of the rat race, but with digital money, we will all be just rats. With digital money and social score, this article won't be possible because I wouldn't write it for fear of losing my points and starve to death.

The way Bitcoin has been implemented in El Salvador won't' prevent that future because since it is custodian El Salvador government knows from where the money is coming and where is going, it is true you won't pay capital gain taxes, but you will surely pay sales tax and profits tax because if you got your Bitcoin from selling tomatoes at the corner your government will know that you sold x amount of tomatoes this month and you will have to pay your taxes, but if you sell your tomatoes using cash you can tell your government you only sold $1 worth of tomatoes even when in reality you sold $1000.00.

Privacy goes out the window with applications like Chivo and yet the people think that Bitcoin Core is the future when in reality they have lost any advantage they may have and now it is only Bitcoin Cash that will work as cash does today but in the future. I predict that in the future Bitcoin Cash will be the equivalent of cash once government digital currencies are implemented, and fiat cash disappears.

In the United States, the SEC is messing up with Coinbase and telling them they will get sue if they try to offer lending and interest capabilities to users in the USA, of course, that is to protect Americans. The only question is what Americans is SEC protecting and from what, because Celsius and Nexo are already offering those services and they don't seem to be having any issues. Could it be the SEC is playing favorites, and only getting in the way if companies have enough money so that they can shake them up? What I mean is Coinbasee being sue by the SEC just because they have money and the SEC wants a piece of the pie. Pretty much that will mean they are blackmailing Coinbase just because they can, I am not defending Coinbase I am only expressing my opinions, and I don't have an account with Coinbase either, nor getting pay by them to defend them.

Meanwhile, the whole Biden administration is trying to seek revenue wherever they can find it and now they want to have more data from centralized institutions like banks. Pretty much they want banks to tell the government your inflows and outflows for every single American, and that will violate privacy for all Americans, I guess they are so desperate because the ultrarich are not paying a single penny so now the US government wants more blood from the already bleed population. And they think that the crypto market will be their next sacrificial victim. They are coming for your crypto gains.

Governments around the world will start to implement digital fiat because they want to have total control of the population, once you lose the cash aspects of fiat you will have a government that will know every economic move you make. China is the biggest on this because they already have digital money and a digital score, and if your score is not high or as they want it you don't get to move around. In the future this will be your new deal, repeat the government line or starve to death. Right now your deal is work or you will starve to death, but if you are lucky you can get out of the rat race, but with digital money, we will all be just rats. With digital money and social score, this article won't be possible because I wouldn't write it for fear of losing my points and starve to death.

The way Bitcoin has been implemented in El Salvador won't' prevent that future because since it is custodian El Salvador government knows from where the money is coming and where is going, it is true you won't pay capital gain taxes, but you will surely pay sales tax and profits tax because if you got your Bitcoin from selling tomatoes at the corner your government will know that you sold x amount of tomatoes this month and you will have to pay your taxes, but if you sell your tomatoes using cash you can tell your government you only sold $1 worth of tomatoes even when in reality you sold $1000.00.

Privacy goes out the window with applications like Chivo and yet the people think that Bitcoin Core is the future when in reality they have lost any advantage they may have had and now it is only Bitcoin Cash that will work as cash does today. I predict that in the future Bitcoin Cash will be the equivalent of cash once government digital currencies get lunch, and fiat cash disappears. Not to mention that Bitcoin Cash works and is the real peer-to-peer electronic cash system that Satoshi Nakamoto invented and gifted to the world. You can't be a currency if your fees are $0.05 or more, and Bitcoin Core won't be able to serve Salvadorians or any other nation as a currency not today nor tomorrow either.

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Written by   161
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