[ExI] bitcoin again

[spike at rainier66.com]

From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of Adrian Tymes via extropy-chat
…

It:  BANG {slams big wooden hammer on desk {why are they still doing that?}}  Out of my courtroom, all of yas.  spike

 

>…Doesn't follow.  The numbers are themselves property - not "intellectual property", but ordinary property even if in a non-physical form…

 

 

I agree Adrian, you know it, I know it, everyone here knows it.  My prediction is that the criminal courts will not accept the liability of enforcing ownership law on cryptocurrency.  I predict they will just tell crypto holders they are on their own: homemade currency, homemade security to protect it.

 

I understand their logic: they already know the politicians are in on the crypto game because it provides a nice end run around individual limits to campaign donations.  They won’t help.  

 

The IRS sees about 30% of all filthy lucre as their share of that filthy lucre, absolutely regardless of the mechanics of how it is traded.  They will not approve of any alternative path around Caesar’s currency, which they already know how to deal with to get their cut.  The IRS holds arbitrary unaccountable power with no elections to worry about, no Supreme Court hanging over their heads, nothing preventing them from prosecuting the hell outta anything or anyone who appears to be getting rich without somehow giving about 30% of that to them.

 

I stand by my original prediction: Bankman Fried will not be prosecuted in criminal court (even though his crimes are perfectly obvious) but will be prosecuted by the IRS (even though his tax crimes are non-existent.)  

 

I have grown so cynical!  I am so confident I intentionally omit the usual just sayin on that sayin.

 

spike

 

 

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