Limitation Coming to Bitcoin?

Limitation Coming to Bitcoin?

Limitation Coming to Bitcoin? Money and power are the two most important aspects of the economy because they are both universal. Energy is necessary to convert raw materials into final goods and services. Money is necessary to save wealth, calculate income and losses, and exchange goods and services that you cannot get through trading. Although Bitcoin improves the relationship between people and energy and money, problems that affect both energy and money can survive Bitcoin principles, even if they are not serious.

When it comes to energy, government regulations, subsidies and restrictions will continue to have an impact. When it comes to money, the government will continue to use second-tier fiat money to force citizens to use.

Govt to Beat and Force

The United States government has attempted to regulate the energy sector since 1789, long before fiat money reached its “final form” in 1971.

Managing Partner of DBL Investors, and Ben Healey, a graduate student in economics, conducted several studies soft (although they support government intervention in the energy sector, of course): Although not an immediate aid, the US government imposed a tariff on British coal sales in 1789 for the benefit of the American coal industry.

This was just two years after the delegates to the Constitutional Convention had openly fought to include the “gold and silver clause” in the US Constitution. This article made its way into Article 1 of the founding document, where it goes on to declare that no state is allowed to make anything except gold and silver coins, calling for submissions for payment of debt. In other words, the political apparatus of that time, although it was more restrictive than the current Leviathan state, could still focus on the sphere of power.

 Strictly speaking, tariffs are easier for the government to accept than subsidies because only the latter requires the government to have money to use. But history shows that assistance also existed before the fiduciary statute came into full force in 1971. For example, the Price-Anderson Act of 1957 required the federal government to subsidize nuclear power by paying for damages caused by nuclear disasters.

Electric generators have also been subsidized by the federal government since at least the 1890s, although the extent of these subsidies is difficult to quantify. Earth Track, a think tank that works to organize energy aid data, estimates that the United States federal government has provided about $2.7 billion (in 2010 dollars) for hydroelectricity since the nation’s inception until 2010. Naturally, this term covers different types of income.

The Government Contributes to The Money

Just as many people in the bitcoin community have that bitcoin will be the next world to store wealth, the government is a special institution that can harm our relationship with money, even when bitcoin becomes the new gold.

The government also uses the threat of violence and imprisonment through military camps and factories to maintain economic power. For example, imagine that the government / central bank of the United States accepts the new currency of bitcoin and even keeps it on its balance sheet. Surely by then the global economic system will have changed significantly for the better – however, if the government is still around, they will probably still use the threat of action force and/or imprisonment to collect taxes. To keep Layer 2 fiat money alive, all they have to do is ask for taxes to be paid on said fiat money.

People will have no other option but to get this money to hand over to the tax authorities. In fact, there are many reasons why such a plan may not work. In the same way, “competition” between governments can prevent them from investing in fiat money and citizens who use bitcoin and bitcoin-based layer 2 technology in their daily lives. Second, ideological pressure from citizens may force politicians to refrain from creating their own fiat currency for fear of professional suicide. And in the end, the government itself can consider such a system that is not easier than it is useful, as a Bitcoin-based economy can grow at a much higher rate than hybrid Bitcoin economy. – Fiat.

We Must Be On Guard

When it comes to power and money, the government can still intervene when bitcoin becomes the world’s next treasure and when bitcoin mining will improve our relationship with money forever. In that sense, the inevitable defeat of Bitcoin is just the beginning – we can still defend against aggressive bureaucrats. In fact, freedom-loving Bitcoiners will see a much better situation than we are now. However, we should not be complacent.

What can we do to really get rid of money and power? One thing we do now: explain our thinking. We are looking for a free energy market so that the most cost-effective forms of energy are identified and made more affordable than other inefficient sources. In addition, subsidies, tariffs and regulations in the energy sector stifle innovation.

As we know, without much intervention over the past centuries, our planet will now use a combination of cold, oceans and nuclear power. And a government-backed currency, even if bitcoin is backed in some way, will throw sand into the wheels of financial accumulation and economic accumulation. The cost of saving will increase, since we need to keep the waste money in our back pocket for tax time.

In other words, the production of all kinds of goods and services will not happen, because they will no longer be cheap. And the investors’ ability to calculate profit or loss is becoming more difficult, since there is no longer one immutable asset (bitcoin), but also an immeasurable fiat currency that is always traded in Satoshi’s creative side.

Telegram address.

Click to rate this post!
[Total: 0 Average: 0]

Join Our Newsletter

Sign up for free now and be the first to know about new updates.

About Author

Write a Comment