the government should be freaking out about the potential implications of this tech. but they aren't. at all. not even a wiff of it. firmly in the ignore stage.
Implications? Freaking out?
It makes tax laws almost unenforceable. Not entirely because if you work at mcdonalds and buy yourself a boeing 747 for personal use one day they might just have some questions. But in a lot of cases it does.
They could still jail you. Fine you. Disrupt every aspect of your life that's not financial.
Alternatively, if StateCoin comes to pass, they'll just centralize the hardware / network and then there will be no way to AVOID tax laws if you use statecoin (and you'll have to if it becomes == USD), because the taxes are the transaction / mining fees. Unfortunately, this is the equivalent of a sales tax, which are not progressive.
We already have USD-Tethers there's no point to StateCoin. And there is a way to avoid tax laws if you don't cash out USD-Tethers or any coin for fiat, making you liable to said tax laws. Don't play in their sandbox if at all possible and instead play on this here nice beach we have
