FIAT currencies fail all the time...it's nothing new. Maybe some are more stable than others but none are invincible. FIAT currencies are far from perfect. That's where this discussion has taken us...although I've yet to see you embrace the fact.
FIAT currencies fail all the time...it's nothing new. Maybe some are more stable than others but none are invincible. FIAT currencies are far from perfect. That's where this discussion has taken us...although I've yet to see you embrace the fact.he thinks there is a non trivial chance that it will fail. But it is clear from his doctrine that paradise on this planet would be in sight if bitcoin replaced all fiat.
I am referring to B/S. My read of his (apologies if it should be her) position is that he thinks there is a non trivial chance that it will fail. But it is clear from his doctrine that paradise on this planet would be in sight if bitcoin replaced all fiat.
personally I prefer my currency to have the guardianship of a central bank like the ECB
Me too,
We can also see the attraction for some of a decentralised currency
The point being that it will be very difficult for Revenue to audit transactions or profits in Bitcoin as you agree. Unless you think people are 100% honest the public coffers will suffer....
If the Greek government didn't want to cook their books there wouldn't have been any work for GS. Fault lies with the Greeks.
Perhaps Firefly, it is Revenue's model of collection via inserting themselves into contracting party transactions, using compulsion and coercion, that is being found out to be inadequate for current expenditure.The point being that it will be very difficult for Revenue to audit transactions or profits in Bitcoin as you agree. Unless you think people are 100% honest the public coffers will suffer....
Are you still banging your drum about that musing over the "Mises' Regression Theorem" discussion?Oh no. Nobody has suggested a complete swap out. Let's not be coy here. I am referring to B/S. My read of his (apologies if it should be her) position is that he thinks there is a non trivial chance that it will fail. But it is clear from his doctrine that paradise on this planet would be in sight if bitcoin replaced all fiat.
The Greek government are responsible for their national accounts and it's not the fault of the currency (either their own or the Euro) nor the fault of a bank whom they employed to cook the books for them.Is there a point to this?
Apologies for no response. I did think about your question. Alas, I see no attraction in cryptocurrency, so I withdraw my earlier comment and apologise for any offence taken....but alas, no response. (to why I saw an attraction in decentralised currencies)
And the solution is probably to adapt it's business model.
That should probably include a major reassessment of expenditure.
Perhaps taxes are not going where they should?Whose expenditure? People who use Bitcoin or the government spending taxes ?
The Greek government are responsible for their national accounts and it's not the fault of the currency (either their own or the Euro) nor the fault of a bank whom they employed to cook the books for them.
Whatever about incoming finances, perhaps it has a role to play in public expenditure in a limited way given its traceability through the block chain. It certainly is a no brainer when it comes to aid and charitable donations. Might lead to a need for considerably less donations and taxes.
I'm sure the bank didn't mind at all ;-)The Greek government are responsible for their national accounts and it's not the fault of the currency (either their own or the Euro) nor the fault of a bank whom they employed to cook the books for them.
Government spending taxes of course.Whose expenditure? People who use Bitcoin or the government spending taxes ?
Finally the opportunity to agree. It's a difficulty..although who knows, maybe there's a way to overcome it (I don't have a solution). In any event, we are not talking about a total switch.That's a pretty important whatever though. If crypto currencies were to become mainstream, they would, by their design (the "crypto" part) make it very difficult for governments to collect taxes.
not sure I follow but then I do have a cerveza in front of me.Why I am convened though beats me....a cheaper government wouldn't be the end of the world
Apologies for no response. I did think about your question. Alas, I see no attraction in cryptocurrency, so I withdraw my earlier comment and apologise for any offence taken.
(I disagree that GS have no responsibilty. If I employ you, as an accountant, to cook my books then as an accountant you are acting fraudently and should at a minimum, lose their licence to practice).
Government spending taxes of course.
I don't in that specific instance but here's a link to the type of thing that brought bitcoin about in the first place.Do you have a link to the fraud committed by GS and a link to which law was broken?
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