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RE: Should Cryptocurrency Wallets be Registered with Government Authorities
Appreciated @reverseacid.
We continue in the eternal struggle of governments to get a slice of taxpayers' money.
The financial freedom that blockchain offers is increasingly threatened by governments, which see the annual capitalization and exchange figures growing, without being able to keep a part.
If the wallets were to be audited or monitored by the authorities, this will only result in one thing: Taxes !.
Thanks for sharing with us.
All best, Piotr.
Hi @crypto.piotr
I thought you would say, "If the wallets were to be audited or monitored by the authorities, this will only result in one thing: More Privacy Coins!"
Could be @devann :)
thx for that comment buddy
In my opinion @crypto.piotr, taxes act more as a social cost rather than a burden. Sure there are several economies that elevate the percentage to be paid, but overall it’s more or less bearable.
What I’m scared of most is the loss of privacy to an absolute scale. Governments can now be aware of ever penny spent and every information propagated. This would bring about the biggest authoritarian regime we’ve ever seen, which goes up to a global scale.
Would love to further hear your thoughts.
dear @reverseacid
Indeed that is a very fair concern. I don't have many more thoughts on this subject. Surely not many happy ones ....