A New Economy

[J.K. Schmidt]

With Bitcoin and innovations like the GLBSE, businesses can now covertly and freely get funding for their companies without the cost or restriction of government redtape and the SEC.

Additionally, they can now pay their employees anonymously in Bitcoins without tax identification, social security withholding and costly payroll formalities. The legal status of employees doesn't matter and any other legal restrictions are moot.

Will this not create a boom for internet-based businesses that decide to put themselves under the veil Bitcoin and other technologies provide?

[kangasbros]

With Bitcoin and innovations like the GLBSE, businesses can now covertly and freely get funding for their companies without the cost or restriction of government redtape and the SEC.

Additionally, they can now pay their employees anonymously in Bitcoins without tax identification, social security withholding and costly payroll formalities. The legal status of employees doesn't matter and any other legal restrictions are moot.

Will this not create a boom for internet-based businesses that decide to put themselves under the veil Bitcoin and other technologies provide?

Well, I don't believe that. To build a bigger company, you usually need some other infrastructure as well, in addition to anonymous servers and domains bought with bitcoin.

And physical operation space can be useful as well. Everything can't be done anonymously.

[J.K. Schmidt]

With Bitcoin and innovations like the GLBSE, businesses can now covertly and freely get funding for their companies without the cost or restriction of government redtape and the SEC.

Additionally, they can now pay their employees anonymously in Bitcoins without tax identification, social security withholding and costly payroll formalities. The legal status of employees doesn't matter and any other legal restrictions are moot.

Will this not create a boom for internet-based businesses that decide to put themselves under the veil Bitcoin and other technologies provide?

Well, I don't believe that. To build a bigger company, you usually need some other infrastructure as well, in addition to anonymous servers and domains bought with bitcoin.

And physical operation space can be useful as well. Everything can't be done anonymously.

Every company I've worked for has been thousands of miles away; I worked from home.

Is telecommuting and subcontracting certain work not the future?

[BladeMcCool]

Bitcoin paves the way for a completely voluntary society. The government can not steal your bitcoins anywhere as easily as they can raid your bank account or even steal and sell off your other personal property. Even if they locked you away for using bitcoin, you could still technically control them using a brainwallet. Bitcoin gives the power to bleed the beast of government dry. It will take time, and there will be collateral damage, as this beast is going to kick and scream as we stab it with 21 million tiny little spears. IMO Bitcoin, or systems like it, is as important to our future as agriculture and the division of labor was to our past.

[niko]

I'd like to live in a new economy whereby "the beast of government" is strong and healthy. The government and its dealings would be as open and free as the public ledger we now call "blockchain" is. Bitcoin would then ensure that all transactions and personal wealth are publicly known and traceable. Tax evasion would be impossible, unless you use alternatives like barter or some new sort of anonymous currency. This new economy would be voluntary - that is, people would have a choice to join in, and kids when they grow up would have a choice to opt out.

The picture I painted above is as unrealistic as the one painted by anti-government proponents here. There have been examples in the history which came close to either of these pictures. The point is, Bitcoin is what you make of it. Not more, not less.

[J.K. Schmidt]

Bitcoin transactions can be fully anonymized; however, they cannot be made fully transparent.

[Phinnaeus Gage]

At this is how Atlas, a.k.a. J.K. Schmidt, mocks BadBear.

[Phinnaeus Gage]

At this is how Atlas, a.k.a. J.K. Schmidt, mocks BadBear.

Who is that Atlas guy anyway?

If we take away the American context (SEC... social security... - wtf?), and take away the implied concerns about the way the US gov does things, then I guess the OP's general concerns sound legit.

He's BitcoinTalk's Kenny, but in his case, he does himself in somewhere after posting post #700. To get you up to speed: https://bitcointalk.org/index.php?topic=77826.0

~Bruno~

[teflone]

Atlas is BACK!!!! 

I have no doubts now..


TROLL ATLAS TROLL!!!!   

[donking]

Schmidt has found the new thread button.