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RE: Government will Regulate Cryptocurrency
Government probably will tax you as you withdraw it as cash from the banks etc.
Government probably will tax you as you withdraw it as cash from the banks etc.
That is true, but they won't stop there. I highly suspect they will try to push for a protocol level tax. Like an additional transaction tax.
There have been already talks about that in mainstream economics to just slap a TX tax on bank wire transfer, but the banks would not allow that.
However it's ridiculously easy to do that in Bitcoin. Practically nothing is stopping them from coercing developers into introducing that patch.
Only the full nodes can veto that, so once the nodes are centralized as well, Bitcoin could be handed over to the government.