When you use or own a cryptocurrency, some of your wealth is transferred to miners in exchange for securing the network (block reward, fees -> mining, development). When you use or own a fiat currency, some of your wealth is transferred to governments in exchange for securing the economy (inflation, fees -> regulation, protection).
I think it is generally unfair to make the taxpayer to front the bill of the government protecting cryptocurrency institutions (via the justice system), especially when the cryptocurrency networks are supposed to be trustless and self-securing. That's basically a net transfer of wealth from the public to a special interest group of cryptocurrency users, and furthermore a rival financial system.
cowtools|3 years ago
I think it is generally unfair to make the taxpayer to front the bill of the government protecting cryptocurrency institutions (via the justice system), especially when the cryptocurrency networks are supposed to be trustless and self-securing. That's basically a net transfer of wealth from the public to a special interest group of cryptocurrency users, and furthermore a rival financial system.
mtnGoat|3 years ago