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RE: " Arizona Votes to Accept Tax Payments in Bitcoin " Steemit Writes Poetry
Awesome, now who do we have to talk to over there about adding STEEM to the list? Who wants a transaction fee to pay their taxes?
Taxes are already a form of ever expanding transaction fee, don't sell the government your bitcoin under threat of illegal violence.
Government adoption of Bitcoin is bad because;
#1 Doing this will only devalue the currency by introducing government incompetence into an already efficient marketplace.
#2 The worlds #1 anti-government (decentralized) currency will become associated with violations of the NAP by its use to pay unlawful taxes to a central authority and tarnishes it's reputation.
@larkenrose
I am not smart enough to make a definitive call on this, but it seems ominous to me at best. The more the government gets involved with crypto the less "value" it will have. Perhaps not from a financial perspective (at first), but it seems to be opening the door (which they are already prying open) to government regulation with no resistance.
When BTC started @inertia told me about it. I got started and even mined enough that had I held onto it I would be debt free. I sold all but a fraction of one coin because I bet wrong. Still, I said then, and I hold to it now. It will be a miracle if the government (at the behest of the banks) allow crypto to ever become anything close to what it was envisioned as being.
In the mean time I will keep trying to grow my fraction of a coin and profit from Steemit as well. At the end of the day however, I find it incredibly optimistic to believe crypto will end up being anything other than another tool used or destroyed by the state in order to maintain the status quo.
I take it back, I am smart enough to know. Paying taxes with BTC is just stupid. If Satan is cheering for you, there is a good chance something is about to go terribly wrong.
on the other hand government regulation and acceptance will significantly reduce the risk which will bring much bigger players into the game which will increase bitcoin prices.
This is our time.