Why Crypto Means Tax & Abolishing Cash - And What That Means For Us

Government and central banks don't like cryptos, right? We read it everywhere. To my mind comes the old quote from Ernest Bevin, the long dead British union leader: "A newspaper has three things to do: One is to amuse, another to entertain and the rest is to mislead."

Many cryptos can be tracked like nothing else, holdings of Bitcoin and co are fully transparent. And when you have all the data Google has, you track holdings straight to the person. And yelling about crime financing and tax evasion, tax authorities will do excactly this.

Of course there are privacy-focused outfits. But government could either force backdoors or ban all sites necessary to use those. When you think of Ken Rogoff's endlessly repeated "There is little debate among law-enforcement agencies that paper currency (...) facilitates crime", the view on Monero, ZCash & co. shouldn't differ much.

Thinking about IOTA: Germany already is preparing a law to force producers of cars, computers, phones and the future Internet of Things devices to insert backdoors that can be used for legal probes. At least U.S routers have them for ages.

So my take is: Tax authorities will like to tax the financial gains crypto users and will be able to. And as Bitcoin is transparency pure: Governments behind closed doors probably like cryptos. As they are also a useful step in the efforts to ban cash.

Central banks nowadays support state finances with negative interest rates. When cash is eliminated in such an environment we can't escape from losing money by just hoarding bank notes. We are forced to risky investments.
So I think cryptos the path we will move away from cash, into an age of a new world currency.

And while you might fear global tyranny, the movers and shakers (as always) know how to make it a foam party. We enthusiastically embrace cryptos as a way to freedom and try to get rich. And would you ever have imagined that at least a part of this New World Order currency would be Dogecoin?

What's your point of view, pls share below. Steemit is a place to talk. Let's talk! (I upvote discussion as good as I can).