I’m convinced the entrenched powers real fear of bitcoin is not that it might defeat the money printer. The real fear is that there might be an easily auditable ledger.
Discussion
Wouldn’t the corruption just be transacted elsewhere? Gold, property and the like?
That is what they’d like. But if taxes were received into government bitcoin wallets, all initial payments out of that wallet would be on chain and the public could demand to know the owner of every wallet the government sends to.
Absolutely. The money printer is huge though, that's how wars get funded. A debt resistant money forces fiscal responsibility, and so does an open ledger, in different ways.
I'll always remember when Germany sold all of their Bitcoin. We all knew, watched it happen. It was kinda wild to me, that level of transparency.
For sure.