Something that always strikes me is that people underestimate the impact of a decentralized world. Especially more vulnerable people that depend on society for ‘survival’.
I get a lot of power to the people vibes while I’m not sure that a lot of people are ready for this.
How I’m experiencing things today (Simplified) :
- I pay more than 50% taxes —> I have no choice
- unemployment is supported by basic income
Basically I’m forced to share some wealth to keep society running
Imagine now a decentralized society :
- my connection with an employer will be direct and I will pay no taxes —> I have a choice
- No support for unemployment. Maybe this will stimulate more people to work but will also create some issues
Basically stronger people will become stronger and people suffering will suffer more.
Im sure Im cutting some corners here but the principle stays afloat. Won’t Bitcoin create more disbalance while a lot of people are claiming the opposite.
I get a lot of power to the people vibes while I’m not sure that a lot of people are ready for this.
How I’m experiencing things today (Simplified) :
- I pay more than 50% taxes —> I have no choice
- unemployment is supported by basic income
Basically I’m forced to share some wealth to keep society running
Imagine now a decentralized society :
- my connection with an employer will be direct and I will pay no taxes —> I have a choice
- No support for unemployment. Maybe this will stimulate more people to work but will also create some issues
Basically stronger people will become stronger and people suffering will suffer more.
Im sure Im cutting some corners here but the principle stays afloat. Won’t Bitcoin create more disbalance while a lot of people are claiming the opposite.
Decentralization does not guarantee that people will not pay any taxes. You cannot profit with Crypto currency and then convert that to Fiat and then spend that and not expect the tax agencies not to pick up that there are money going through your account.
No business will allow big purchases with Crypto currencies, without some paper work that needs to be done. (Invoices / Transfer of ownership etc...) Also, if people do not pay taxes.... services cannot be rendered..... and hunger will increase... so poor people will turn to crime to survive.
In a crypto world you would not go through a bank account you would just use your crypto 😁
It all depends of the model that will be dominant if businesses will accept crypto or not. Currently that would be the case but that could change quickly. Basically if most economic actors decide it will be crypto, it will be crypto.
Indeed very true services would not be guaranteed anymore with a lot of consequences.