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No, I mean the transaction fee itself. The fee we pay for putting a transaction on the blockchain is all the "tax" we need to pay. If governments were the ones to establish and maintain our monetary infrastructure on the Bitcoin blockchain, they would be getting the rewards and they would be able to use that Bitcoin to provide the goods and services we need from good governance models. Extra taxes would go away as unnecessary.

j'ai les clés 1y ago

1) You seem to be saying that you want the USG (or all governments) to start a mining operation in order to replace tax receipts.

2) You seem to think that profits from mining are/will be enough to replace current/future government expenditures.

How familiar are you with reviewing corporate P&L’s? Not even the most profitable miners are capable of replacing taxes.

Lastly, “if governments were the ones to establish and maintain our monetary infrastructure” is not a pro-bitcoin argument with which I’m familiar.

Are you new to this space?

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Discussion

Chad Lupkes 1y ago

The space is only 15 years old, so EVERYONE is new. I also spent 15 years in politics as a progressive, so I believe that we need governance models that provide the services if this civilization is to survive, thrive and grow. I am not interested in a free market anarchy.

I am also aware that the current revenue generated by Bitcoin mining is nowhere close to the revenue requirements needed for the current US Federal Government or any existing government. The reasons for this are two fold, first the adoption of Bitcoin is extremely low, thus the "price" in fiat terms is extremely low. We have 100X or 1,000X+ to go over the next 20 or 30 years. And second the governments of our nation states are obscenely bloated because they have been designed around fiat and corporate feudalism. It's going to take at least those 20 or 30 years before we can fully hit the reset button. The first time this happened it took 300 years for Rome to fall and then over a thousand years for the market to come back to where it had been. I'm hoping it doesn't take that long this time.

j'ai les clés 1y ago

Okay, so are new to the space. There’s no need to hide it or say “EVERYONE is new”. Not only is that an inaccurate projection, it trivializes the lessons you could learn from others who have been around for a while.

First, let me say “Welcome to Bitcoin, fellow Progressive!”

A few things to know about bitcoin. Any suggestion for a governance model that increases centralization is going to be fiercely rejected by anyone with a passing understanding for the white paper, to say nothing about the numerous examples bad actors whose failures (both before and after Bitcoin’s creation) were a direct result of centralization. Is the only alternative to that a “free market anarchy,” as you say? Certainly, there are libertarians among us who don’t want to cooperate with society or provide social services. But that’s different than insisting a distributed, decentralized, and open protocol network remain that way; else it is not Bitcoin. I encourage you to learn a bit more about the core tenets and values of the protocol and am happy to recommend a reading list.