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Author Topic: Would you rather pay central bankers tax, or government?  (Read 49 times)
Pizzalover420
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January 06, 2021, 10:29:56 AM
 #1

The only difference between bitcoin and fiat in the end is instead of paying government tax, You pay a network fee AKA enforced tax to central bankers.

It will be a central banker with the biggest bitcoin farm in the end. They have the fiat to buy all the miners and make your hashrate never solve a block.

All bitcoin does is enforce tax upon your money. When I move my fiat cash to a friend there is no tax. When I move my bitcoin to a friend there is enforced tax.

Congrats on your short term fiat gains, your kids, kids will be enforced slaves because you are a idiot.

At least when you pay the government tax you get roads and schools. When you pay the bitcoin tax you get fuck all.
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January 06, 2021, 10:53:17 AM
 #2

Some of your arguments are valid! The dynamic fee system of bitcoin is indeed a pain, especially when the mempool is full or nearing the full capacity. Lightening Network is one good solution to this scaling issue even though it is not yet fully deployed! So for small holders like me, transaction fee is a challenge.

However, now we need to think about the other part of the story. You indeed can send money to your friend without any taxes, but there is an upper limit prescribed by various governments. you can't send unlimited amount of money without disclosing the source to the banks. So there is a surveillance system available to monitor your finances. With bitcoin, you can indeed send billions of dollars to other party, without even disclosing your identity. Only the account number will be recorded in the blockchain and there's no way to know who owns that account! So the transaction fees are not enforced tax, rather it is a price you are paying for your financial anonymity! After all, nothing is free in this world!

So everything has its own pros and cons. The faster you conclude, the better your chances of loosing an opportunity! Cheers!

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January 06, 2021, 11:07:27 AM
 #3

The thing is that there's no enforced tax. It's a pay-what-you-want. There are txs with zero fees that have been mined before, although today that's not the case (and such txs will likely be dropped from mempools).

If a central bank gets to own the largest mining farm to take all taxes, then those who care will simply fork off. There are solutions to most (if not all) of those problems, thanks to decentralized governance.

Remember that Bitcoin will change in the future, and fees will likely become much smaller so that the average Joe will afford to pay them. Even today, you can pay as much as you want so if a bank was to own a large % of the mining power, you could pay 1sat/byte and still get your tx confirmed IF the bank doesn't censor your tx.

If this ever happens though, we will have much larger issues to confront: if the banks purchase enough mining equipment to own a % of the hashrate so high nobody else could compete with it, then it means they own a % of the hashrate so high 51% attacks become a thing. Bitcoin is about decentralization, about NOT letting a single power own the majority of the votes. Thanks to BTC's nature, we can solve these issues without a doubt.

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Oshosondy
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January 06, 2021, 11:28:14 AM
 #4

I do not see your argument valid in any way, fiats are fiats while bitcoin is a cryptocurrency. You pay fist tax to governments and your country become developing, but how about crypto exchanges, did you think they are not paying the government of the country which under which they are operating tax? They pay. Also, in some countries like USA now, you still have to pay crypto tax. In many countries where crypto tax is not yet enforced, it can be enforced later.

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naomi-the-cat
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January 06, 2021, 11:41:52 AM
 #5

The majority of people just hate gov, so they ready to pay money for anybody instead of gov
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January 06, 2021, 11:57:52 AM
 #6

You have a point here but it doesn't mean that you are also correct overall because as you can see some of the exchanges are paying taxes to the government so the governments are still earning in every trade that we are going to make but for the private transfer from wallet to wallet then the central bankers are earning for sure and you correct with it.

But if you will consider also the benefits of using the crypto currencies then the scenario is not bad at all because we can enjoy a free tax transaction even if we will move thousand or million of dollars and we will only pay a small network fees compare if we are going to do it into fiat. And there are many benefits that we can enjoy by using the crypto currencies so I rather pay central bankers tax rather than a government as the government as asking for a tax to almost action that we are doing as we stay to their territory so I am pretty sure that they will not get bankrupt easily not only if the officials are very corrupt.
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January 06, 2021, 12:20:02 PM
 #7

The only difference between bitcoin and fiat in the end is instead of paying government tax, You pay a network fee AKA enforced tax to central bankers.

It will be a central banker with the biggest bitcoin farm in the end. They have the fiat to buy all the miners and make your hashrate never solve a block.

All bitcoin does is enforce tax upon your money. When I move my fiat cash to a friend there is no tax. When I move my bitcoin to a friend there is enforced tax.

Congrats on your short term fiat gains, your kids, kids will be enforced slaves because you are a idiot.

At least when you pay the government tax you get roads and schools. When you pay the bitcoin tax you get fuck all.


They're both imposing tax at their own rate and I don't see anything that can be detrimental to network fees compared to fees on paying the government. I believe they were both regulated in a certain amount or cost and it is up to you if you want to adapt with the current taxes it imposes.



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