Quote from: whitenight639 on January 31, 2014, 12:07:42 AM

If Scotland used BTC or any other crypto-currency I imagine it would be like the USA before 1913, with no federal income tax, no central banks devaluing the currency and less government trying to regulate everything and take peoples money by threat of force (taxation).

I don't see why. They could still pass laws requiring companies to declare their income and pay tax on it. They could require records kept, and audit the books. The companies would also be required to declare how much they paid their employees and that would be taxed too. This would still be enforced by threat of force.

The main difference is that the monetary policy would be fixed. They couldn't print more bitcoin as a sneaky way to default on government debt. That would probably be a mixed blessing.

They would need to find something to use for notes and coins.