On: Insider Trading at Coinbase

[lxgr]

If all of that ends up working out, and considering no other restrictions are put in place: How are people going to pay their taxes?

Being the exclusive currency accepted for tax payment is an important part of what makes fiat currencies money.

[matheusmoreira → lxgr]

> How are people going to pay their taxes

The government is going to have to suck it up and accept taxes in cryptocurrency. In my country such laws have already been proposed.

[reedjosh → matheusmoreira]

I love this. Yeah, they'll have to allow for off ramps or accept crypto for tax payments.

I say have to as otherwise a rich private currency economy will grow unmolested by tax collectors.

[matheusmoreira → reedjosh]

> rich private currency economy will grow unmolested by tax collectors

Honestly I wouldn't mind that either. Governments in general are absurdly corrupt and taxes finance that corruption the same way drug users finance cartels.