The State Will Always Punish Productivity (A couple lesser-discussed reasons for the recent crypto bleed)
The crypto markets have recently been hit with a significant bloodbath,
with prices of most major coins tanking 30% or more. While there is much speculation behind the reasons for this mini crypto crash, or correction (depending on how you view it), in this video I'd like to discuss a couple lesser considered potential reasons for these somewhat dismal days.
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~KafkA
Graham Smith is a Voluntaryist activist, creator, and peaceful parent residing in Niigata City, Japan. Graham runs the "Voluntary Japan" online initiative with a presence here on Steem, as well as Tube Twitter. (Hit me up so I can stop talking about myself in the third person!)
I like the way you think.
upvoted and followed
I think of taxes in the same vein as a protection racket
I went into cryptos to take my power away from the clutches of banks and governments, the last thing i would do is revert back to fiat just to pay the taxman. Put your funds into privacy coins and wait!!!
Yup, it's not only in Japan, it's everywhere else in the world. There are free riders everywhere and nobody wants to do the dirty, creative and innovative work. Crytos allows us to circumvent some of the many problems of our modern societies. Bureaucrats just want everything to be in status quo so they can continue to reap profits without the work.
True man, at least the general public are becoming more and more aware every day, and I believe it will get to a point in every average person's mind where they truly realize how ludicrous the society is and how rigged the system is against them. Then we really turn the tide and take back what should have been ours all along!
Perhaps, Steemit can turn into a place to distribute universal basic income.
Never thought of that, very interesting idea.
Excellent video my friend and i am searching the reason of current crypto crash and i am glad i find some courtesy to your video and you describe nice reasons and totally agree with your points, i just want to say that we are born free and it's our right to live free as well, thanks for sharing your nice thoughts with us, Stay blessed
Most states today are mutated bullshit. But how do you want to solve the problem that people are not payed for their overtime or even work so hard till they die, when even the government with enormous power over their citizens is not able to secure decent working conditions for them? Don't understand me wrong, I really hate how most states are handling taxation and expenses today, but I don't think that humanity is ready to exist without someone telling them, that they should not screw over other people. There is just too much greed involved (yes many politician are as bad as corrupt bankers who screw over people for their own benefit). And I don't even want to loose a word about our currency system, that's just broken to the core.
One thing I know is, the state ensures that decent working conditions for these folks will never be secured, really.
One of the things I think someone can argue with cryptos and taxes is that if you are not actively taking out the money (like many on Steemit) you do not have to claim this as it is unrealized gains. Theoretically they can only tax you when you take it out. Then comes the whole issue of proof. It's a slippery slope taxing something so new like cyptos.
In some cases, maybe, but being paid here on Steem counts as taxable income even before thinking about gains on top of that, in Japan.
I'd be curious to know how they would enforce something like that. There are over 2000 crypto currencies at the moment and if you did a service for someone and they paid you in one of the 2000 cyptos how would we say that this is "income" rather than a trade or barter? I'm wondering which cryptos they would recognize or do they recognize all of them when you mention the word "income" then I would think you should also be able to pay their taxes in the said crypto currency. I guess the world is going to be watching to see what plan they come up with to pull these taxes off, nothing seems cut and dry.
Great job here. i gave a follow and upvote. am new here i need your help. Thanks
It is really unfortunate that the cryptos have had to suffer as such.
The entire financial market is in a huge tumult if you ask me. There is more uncertainty now globally than at any point in my life.
China has sent soldiers to syria and Israel is in open but undeclared war with syria, how do you think that is going to develop?
China is no longer interested in U.S. currency. Sweden is preparing for war. The republican tax plan all but ensures huge civil unrest in the united states as foreign interests laugh, the government will not be able to fund the medical and social security programs that make the entire economy only barely function for 75% of the population. Plus the shutdown.
The stock market is in an obvious bubble, when that crashes there will be a real mess.
These are big changes afoot. Why is there less demand in crypto? I think it's because no one expects a bitcoin to ever be worth more than 20,000.
Why? Because bitcoin is not unique and it is ultimately a primative form of crypto. btc will never be useable at the cash register due to transaction costs and latency, others could be though.
I personally like the idea of bitshares and enjoy that i can trade easily between that and steem, but aren't there numerous such attempts at an exchange based currency?
And here is a question no one else is asking, what is keeping intelligence services like the CIA/Mossad/FSB/China from making their own fake currencies, like north korean storefronts that have a lot of candy in the window, but behind the scenes are simply fake numbers pushed around just like fiat?
For all I know, steem and bts could be run out of the Pentagon. Just like with Tor nodes, the number of witnesses that are actually police or private military or whatever, could increase to the point that government can simply sabotage them completely.
What will happen the first day steemit.com is unavailable completely?
And why are the inventors selling 70 million coins? geez are they really going to get 200 million petrodollars for them?
I totally agree with your point that it is not practical to use bitcoin for everyday needs and that there are too many crypto currencys out there. But we are just at the beginning of crypto currency development. In some years, there may be a lot less shitcoins around and the global acceptance may rise even more, if we give it some time. On the other hand, governments may ruin everything by putting too many nonsense regulations on crypto currencys or even outlaw them, like china or South Korea.
thanks for such a informative video
#freedom