

Bitcoin Is Poised To Change Society More Than The Internet Did - zoowar
http://falkvinge.net/2013/04/03/why-bitcoin-is-poised-to-change-society-much-more-than-the-internet-did/

======
purplelobster
So how would governments operate if it can't manage the supply of money or
bring revenue though taxation? If you can't tax money, then I guess you have
to go back to taxing goods or people's time, i.e. give us half your harvest.

~~~
maxharris
The government could sell contract insurance (priced at some low percentage of
the contract's total value), which would be required in order to initiate
legal action in civil courts.

The surplus from this would be more than enough to pay for the other essential
government functions: criminal courts, the police, the military, the
legislatures, an executive, and offices pertaining to maintaining property
records, including copyrights, patents, deed registrations, etc.

------
Choronzon
Article is currently online so excuse me If I reach speculatory conclusions.
Unless I misunderstand the seeding process Bitcoin is effectively a
deflationary currency, with it getting rarer and harder to mine over time. It
may be great for speculation and ok for immediate transaction but not so great
for loans.How would you get rid of bitcoin debit assuming the currency was
stable? Anyway how did setting up new currencies work out for old Muammar
Gaddafi?

------
epynonymous
this is the best bitcoin article i've read, very concise description. while
reading this, i came to the conclusion that even governments and central banks
have no way to currently control bitcoin, it's very easy for them to get their
fingers in via legislation, e.g. having to disclose bitcoins in annual tax
filings.

