At least at this point in time, if you control all of the on/off-ramps, you can ...

reedjosh · on April 13, 2022

I think it could slow adoption, but I've been primarily buying offline. Soon I'll have a lightning node too--improving my BTC privacy.

Defi exchanges are the next major advancement to government resistance as well. This space would rapidly mature under government regulating away self custody.

lxgr · on April 13, 2022

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 · on April 13, 2022

> 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 · on April 13, 2022

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 · on April 13, 2022

> 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.