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ObscureMind | 1 year ago
Perhaps everything deserves a tax exemption, especially cryptocurrency, which operates independently of government control and doesn’t rely on state structures to function.
ObscureMind | 1 year ago
Perhaps everything deserves a tax exemption, especially cryptocurrency, which operates independently of government control and doesn’t rely on state structures to function.
Fezzik|1 year ago
ObscureMind|1 year ago
Governments, in this case, offer nothing essential to the functioning of cryptocurrencies. Cryptos are essentially just digital numbers transferred across the internet, their existence sustained purely by individuals investing their time, resources, and trust. Their value and continued operation are independent of government control, investment, infrastructure, or approval.
binarycrusader|1 year ago
It magically manifests itself through the ether? It doesn’t rely on profligate amounts of cheap electricity and the infrastructure required to support data centers?
It doesn’t rely on governments that provide a legal and financial system that supports exchange into actual monetary value that the real world requires to operate?
Claiming cryptocurrency doesn’t rely on state structure completely ignores the existing state structures that are required to enable the complex scheme that’s needed to enable its use.
As they say, “we live in a society.”
ObscureMind|1 year ago
Cryptocurrencies, by design, function on decentralized networks that don't require the direct oversight or approval of any government. The electricity and hardware used for mining and transaction validation may come from existing infrastructure, but that infrastructure doesn’t need to be state-controlled in the same way that a national currency system is. Individuals and private enterprises can choose to power crypto networks using renewable energy sources, local power grids, or even off-grid systems, making them more flexible and adaptable to a variety of environments, independent of centralized authorities.
As for the legal and financial systems that facilitate exchange into fiat currency, these are not an intrinsic part of cryptocurrency's functionality. Cryptocurrencies are used as a medium of exchange and store of value in numerous jurisdictions without the need for state-backed systems. Peer-to-peer exchanges and decentralized finance (DeFi) platforms allow users to trade, lend, and borrow without relying on traditional financial institutions or government regulation. In fact, the very appeal of cryptocurrency is that it offers an alternative to centralized systems, providing financial autonomy outside the control of national governments or banks.
The idea that cryptocurrencies “need” government structures is a misunderstanding of their decentralized nature. While state-backed systems provide a safety net or a point of conversion, they are not essential to the existence of cryptocurrencies themselves. In fact, governments’ involvement often comes with regulation, restrictions, and sometimes outright hostility — yet cryptocurrencies continue to thrive in regions with little or no government support.
Yes, we live in a society, but part of the reason cryptocurrencies have gained traction is because they challenge the monopoly that governments and traditional financial systems have on money, banking, and trade. In essence, cryptocurrencies operate as a parallel system that doesn’t depend on state authority to function.
Taters91|1 year ago
ObscureMind|1 year ago
For many colonists, the Tea Act was part of a broader frustration with what they viewed as excessive and unwarranted taxation on goods they needed, like tea. They objected not just to the specific tea tax, but to any form of taxation that they felt was imposed without their consent, and that undermined their economic freedom. This frustration eventually culminated in the Boston Tea Party in December 1773, which was a protest against both the specific tax on tea and the broader issue of unfair taxation—whether or not they had direct representation in Parliament.
unknown|1 year ago
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amadeuspagel|1 year ago
[1]: https://xkcd.com/538
oceanplexian|1 year ago