[ExI] I see pitchforks.

[spike at rainier66.com]

From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of Dylan Distasio
Subject: Re: [ExI] I see pitchforks.

 

Spike-

 

>…Putting aside the fact that I'm not in favor of a wealth tax, movements into and out of gold and bitcoin from a "real" currency are generally required to do anything useful with either of them.   This makes them not as easy to use to hide money as you're hinting at, especially for any significant quantity.   Bitcoin is also not suitable as a proxy for a currency at this point as it's way too volatile IMO.  I am sure people will find a way to avoid taxes if they are too onerous by hook or crook though, so I guess we agree.  Dylan

 

 

Ja, thanks Dylan.

 

The local gold exchanges operate largely in cash already (for gold owners don’t want anyone to be able to trace it back to them.)  But even if not, if one has already bought a pile of physical gold, that is in the past.  There is no law that says one must declare one’s gold (and plenty of reasons to not.)

 

Regarding your notion that BitCoin is too volatile: sure but that in itself is not necessarily a bad thing.  If BitCoin didn’t already exist, we would need to invent it.  I don’t know what we are going to do about the inherent problem it carries: it enables kidnapping.

 

spike

 

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