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Quote from: bitcoinPsycho on Today at 04:21:16 PM

I honestly don't mind paying my fair share of tax. Can't be greedy now. Just a heads up to all in the uk

I very much mind paying any tax to such fuckers, when instead the government could just print some more fiat from fresh air. In fact, when a government can magically create money from nothing whenever it wants, it makes me question why I've been paying taxes my whole life.

Because any government that attempted to do that would be rapidly facing hyperinflation. I don’t know about you but I wouldn’t want to live in a country like Weimar Germany or the Zimbabwe of a few years ago.

I hate to break it to you, but it's already happening. You've heard of "quantitative easing" right?

EDIT: you might also have heard it called "money printer go brrrrr"

Yes of course, and so you are seeing right now the effects of doing it on what is actually a limited scale.

If they tried to do what you imply - which is simply print money with no attempt to bring money in through taxation the result would be off the scale and nothing like what we see today.

You're absolutely right. However, what other choice do governments have? They HAVE to keep the money printers on, which is currently causing the rising inflation we're seeing everywhere (maybe hyperinflation, depending on how much they print and which figures you believe - I'm hoping you don't believe governments' official inflation figures, by the way). This is one reason why we hodl bitcoin, since it's the only real money to ever have existed and the only reliable way to safeguard your wealth against reckless governments causing (potentially hyper-) inflation.

I agree it is a serious problem and I certainly don’t know the solution.

Regarding “real” inflation, yes I would agree it’s probably rather higher than the official figures, however, it’s certainly not hyper-inflation (not yet anyway!) - I certainly haven’t seen prices going up multiple times in the same day, as was seen in Weimar Germany and Zimbabwe.