Great point, well put !

This is what I think as well. The legal system just isn't designed to deal with this. It requires legal entities the whole time and for a legal entity to be associated with property. Thats why we have banks - so that your state of credit or debt IS your money and that money is synonymous with your identity.

It has painted itself into a corner. Left a wide open goal. Satoshi quietly switched the points a few miles ahead of the state-managed financial juggernaut and sent it down a spur.

What happens if we are in the park, happily chatting watching our kids play....I scrawl out a bunch of numbers and letters in the sandpit for you that represents the private key to a blockchain address containing a million dollars worth of capital ?

Have I then "paid you" ? Are you then liable for $300k in tax ? What about all the other people who saw it but didn't know what it meant ?

Regulate that