Quote from: Avity on November 29, 2017, 01:35:52 AM

Quote from: dansmith_99 on November 29, 2017, 12:01:13 AM

Something that has been unclear to me is how will governments survive when fiat is nowhere to be seen and all or most monetary transactions happen via cryptocurrencies.

Since one of the most attractive aspects of crypto is that its anonymous and decentralized, how will governments be able to keep track of money and tax it.

Governments will create their own just like how Russia just did and probably tax every transaction just like how they do with fiat currencies. They can also try to take the exchanges been fiat and some other cryptocurrencies. They will find a way or if they can't they will try to make it illegal. One way or another they will try to get their taxes.

Hopefully that doesn't happen. If they try to hard regulate Bitcoin Exchanges, trading fee may go up, and day traders wouldn't really like that Sad