005 USD, and so is “infinitely divisible”.īitcoin divisibility is limited, by design, to 0.00000001 BTC (1 Satoshi) If useful, the US Department of the Treasury can issue a coin or bill with a value of any denomination, including. The transaction tax could be dynamic, to encourage currency flow in bad times, and to add some friction when things are overheating. Each account could be tied to a citizen, transactions taxed at some progressive schedule, and then uniformly distributed to every account daily. Taking it further, you could tax intra-namespace transactions. Each country could pick its namespace, and have control over its exchange tax function. If the currency were able to support cross-namespace conversion controls, like a tax determined by a function of the velocity and acceleration of exchange. They need to be able to adjust the spigot.Įdit: I suppose this suggests a feature request for Bitcoin: namespacing, of a sort. It turns out that a globally integrated economy isn't always best for the smaller economies. I remember Malaysia catching flak for halting foreign currency exchange during the Asian Financial Crisis, but it turned out to be a really smart move. Pretty soon you'd hear Portugal, Italy, Spain, and Greece banning its use, along with similarly wobbly countries in other parts of the world. If Bitcoin were ever to become popular for regular transactions within many countries, it'd be a fiscal policy disaster. One of the problems of the Euro is not being able to inflate different countries within the Eurozone at different rates.
#DONT STARVE WIKI OVERHEATING FULL#
A good currency should be able to support the full range of social policies (like VAT). Sounds like a defect in the technology to me.
Private groups and govs have advanced systems for doxxingītc accounts: they were a bit late to start but now that mining is basically impossible, it is far easier to follow than dollar bills.Īlso WU cash point to point money is quite well known for being off the taxes radar in most countries (for some reason): the remittance to the homeland of (illegally) earned money via WU and evade taxes back home is probably it's biggest usecase which is why they can use these depressingly bad rates. So not sure what you mean there besides parotting this point. So I do not see the point: in the end btc is easier to follow than a suitcase of dollars coming from Medellin where it was taken from children in the sex trade. So you do not use that either? That is in fact regulated and more expensive and still human traffickers use it all the time. I am not a big btc fan, I made some money with it and I like the concept somewhat for the purpose it is meant for.īut this btc is used for drugs, human trafficking etc is getting somewhat weird: sure it is, but normal money is far more. Whatever else you criticize about Bitcoin, it's still "cash you can email", and even if that's all it ever amounts to I still find it a bloody useful innovation. Like saying "screw you, I don't need you and your crappy service anymore, come back when you can compete on merits". In addition to a great story, I've got to admit there was something liberating and empowering about giving what felt like a big middle finger to the slow, decrepit, old-fashioned institution who couldn't even deliver on their core business proposition. Reading between the lines my sense was their staff were overloaded or their onboarding system was simply broken.īitcoin was incredibly helpful for me that day, and my favorite feature about the phone is the way I paid. I'm not a financial risk I'm a good little citizen with no red flags. The phone arrived a few days later, meanwhile the Transferwise morons still had their heads up their arses with no movement and no good explanation. Growing frustrated, I convinced the seller to accept Bitcoin, which was comparatively instant.
Days went by and they still hadn't activated my account. The seller initially requested payment via Transferwise, who sought crazy amounts of personal information and bullied me into a privacy-hostile customer agreement. I bought my smartphone from Hong Kong, in part because I wanted a specific variant that would be more likely to work with open-source ROM's.
0 kommentar(er)
