Post
Topic
Board Economics
Re: Bitcoin is Becoming a Global Currency
by
Karolus
on 17/06/2016, 00:41:41 UTC
It's funny because I was rather thinking that the lower-income countries would be the ones pushing for bitcoin. They have more economical problems which could be solved by using bitcoin (inflation, unsecure banking companies and so on), so it would make sense that they have more incent to use it.

Really? Lower income countries have economic problems partly because of vast amounts of tax evasion. Without adequate tax collection, how are poor countries going to pay for public education, better infrastructure, public safety, and a reliable legal system? Without those things, they will stay poor.

A lot of people want to use cryptocurrencies precisely for tax evasion. Governments don't want cryptocurrencies partly because they don't want to enable tax evasion. Tax collection requires being able to identify people and their transactions. Isn't that the opposite of what cryptocurrencies are about? And I don't see how the expansionary supply of bitcoin will reduce inflation.