Me: Abolish Income Taxes to improve #Bitcoin privacy & scalability.
Them: That won’t happen! It’s too hard to end Income Taxes! Just activate Covenants. Satoshi wasn’t omniscient!
Me: I prefer hard choices, easy life. You prefer easy choices, hard life, which is why you fail. https://qph.cf2.quoracdn.net/main-qimg-6f2f53210be811ef136c49ca9b46e1e4
#Bitcoin influencers are ignoring the most important limiting factor effecting #Bitcoin scalability and privacy (income taxes) and instead they’re focusing on promoting new Op_Codes, drivechains, BlockSize increases, and other half baked ideas..
The best way to improve #Bitcoin Privacy and Scalability is to Abolish Income Taxes.
#Bitcoin influencers don’t talk a lot about this… they don’t want to be targeted by the Tax Man. I get it.
Sadly, these influencers spend their time promoting new Op_Codes instead.
Few.
#Bitcoin is backed by Random Acts of Energy.
Chemistry and Physics are experimental sciences built on Standardized systems of Objective measurement.
If we even want to pretend that Economics is an experimental science, then we need to agree to a Standardized system of Objective measurement in our Money.
Got #Bitcoin?
The Dollar price of #Bitcoin is an Oxymoron.
The Dollar price was an Oxymoron at $10 per #Bitcoin.
The Dollar price will still be an Oxymoron at $100 million per #Bitcoin.
#Bitcoin security emerges from the segregation of duties and asymmetric cost functions of its key constituencies aka Miners, Full Nodes, and Key Holders.
The concept of “Price” is a natural byproduct of common denominators and work inputs.
Study #Bitcoin.
Debt slavery makes humanity weaker as a species.
Equity partnership makes humanity stronger as a species.
Study #Bitcoin.
Income Taxes limit the full impact of #Bitcoin’s Network Effect.
It’s as simple as that.
Any #Bitcoin Player who dismisses the negative impact Fiat Taxes have on #Bitcoin ’s utility and adoption are just being disingenuous and showcasing a massive blind spot in their thinking.
Patience leads to maximum flexibility & optionality for #Bitcoin as we brainstorm more ideas while our #Bitcoin boat keeps floating and the Fiat boat keeps sinking.
Abolishing Income Taxes is the lowest risk/highest reward way to help #Bitcoin on scalability & privacy fronts.
SCOTUS should have dismissed the Trump Immunity case without judgement because it’s Frivolous and told the Defense and Prosecution to go do something better with their time.
Instead all we get is a dangerous precedent.
#Bitcoin doesn’t recognize dangerous precedents.
The best way to help #Bitcoin scale and become more private with Zero risk to the Protocol is to Abolish Income Taxes. We should resist adding more functionality to #Bitcoin ’s code until we dismantle Income Taxes in Meatspace.
Good Morning.
The best way to help #Bitcoin scale and become more private is to Abolish Income Taxes.
No hard fork or soft fork required.
Few understand this.
Different ways to allocate capital & resources shooting from the hip:
Give it to a Church to allocate it.
Give it to a Govt to allocate it.
Give it to a Banker to allocate it.
Give it to a Skilled Entrepreneur to allocate it.
Convert it to #Bitcoin and allocate it yourself.
Make no mistake. There are Dueling Trojan Horse Attacks.
Fiat is trying to Trojan Horse #Bitcoin.
#Bitcoin is trying to Trojan Horse Fiat.
But #Bitcoin is still the Dominant Strategy, which Thiel seems to miss wittingly or unwittingly… my gut says it’s more of the former.
“Nothing gave Vanderbilt more satisfaction, one could almost say real pleasure, than running an enterprise, any enterprise, at top efficiency. Waste deeply offended him…”
-The Scarlet Women of Wall Street, John Steele Gordon
Vanderbilt would have loved #Bitcoin Mining.
“Silver acted as the main monetary measure, against which barley, copper, and other basic commodities were valued in a grid with fixed price ratios for payments.”
-Temples of Enterprise, Michael Hudson
I suspect #Bitcoin could benefit from commodity price grids too.
#Bitcoin will help humanity coordinate economic activity, co-measure economic value, and productively generate and allocate resources like the Ancient Mesopotamian Temples did thousands of years ago.
Only #Bitcoin will be even better.
“Large scale handicraft production and other specialized labor in the palace and temples needed forward planning and resource allocation. That required account-keeping, which in turn requires volumetric measures for crops and the distribution of raw materials obtained in foreign trade. What today is thought of as a monetary system became the organizing principle to denominate credit and exchange during the crop year, and to pay debts and other obligations at harvest time.”
-Temples of Enterprise, Michael Hudson
#Bitcoin is a new way to solve age old problems.