Youtube comments of Crocfighter .132 (@crocfighter.1322).
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I think the largest problem facing Crypto is that governments provide by far the largest demand for currency: tax. If you can't pay your taxes in bitcoin, you still need to use Digital-Dollars. The ability for the government to control the demand on their own currency is the cornerstone of their ability to manage a sovereign fiscal system.
The reason I do not see the USA doing this is simple, wealthy entities like companies or even some individuals could use the de-centralized, anonymous nature of crypto-currencies to avoid taxes. They also can't sanction individuals or enforce court rulings without the banks to play along. Crypto currencies aren't just a threat to the yuan, they are a threat to the USD and Euro as well, and I don't see these institutions letting go of this power.
Now I will get into an area I am a little foggy about. From my understanding, Bitcoin mining is basically a race; whoever runs the transaction first, wins. The anonymity comes from these miners focusing on efficiency which means that they do not bother to collect data. (I could very well be wrong here. Please let me know if I am, I just find this too interesting not to talk about) What if a government agency such as the CIA used its extensive computing power for code-breaking to become a trojan miner. Couldn't they then harvest data from these transactions anyway? If this were possible it would also mean that anyone with the resources necessary could do this, like Facebook or Google.
Also I think that guy calling AI communist is losing the ideology war around the implementation of the system already. While he may just be using it as an easy analogy, if that is the attitude towards AI in the USA, decentralized or more "democratic" AI technologies may never be developed due to the stigma around it. AI is an amazing tool and simply writing it off loses the nuance that makes it so powerful.
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Andy KnightWarden, oh. My. God. Did you just confuse national socialism (Nazism) with actual socialism? Im not even defending socialism but holy cow, could you be more wrong? He literally declared the first ideological war against communism. Also the only socialist countries you guys ever seem to mention are nations that started poor and ended poor. I would argue that the welfare states in places like Europe are a healthy compromise between capitalism and socialism, and most of them seem pretty damn stable.
Further more, you seem to have the funny idea that socialism and (functional) democracy are mutually exclusive. Ultimate power corrupts ultimately is absolutely right but socialist does not equal authoritarian. Just look at Russia and China, they aren’t socialist and are super authoritarian, and Norway pays for healthcare and education and welfare for its citizens and still has a democracy, (arguably more democratic than the electoral college. Seriously guys it’s the 21st century, update your damn system). Venesuala (I cannot spell) built everything on oil and free money it was always going to collapse, and Saudi Arabia (capitalist, aristocracy/theocracy) is hardly a hotspot for personal liberties.
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@obrnenydrevokocur9344 , umm. As an Aussie were most states have gone weeks without a single case, I’m telling you this is much better for the economy, cause, you know, people actually go outside? Unemployment is high, but that was going to happen regardless, and thanks to the government boosting welfare it isn’t too bad (although now they are putting it down again, so it might not last long). Personally I’m hoping that this might crash the housing market so that it will reach affordable levels, but it doesn’t look too likely, the government here prioritises the housing bubble over just about everything.
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Lord Farquaad, just a small nitpick (you said what I wanted to but better btw) but here in Australia university education is quite expensive, a small bit of a generation had free uni but then they realised that they could cut taxes and this program and they would get re-elected. Australia is actively trying to become the USA in some regards, our current government also fucked the internet for no particular reason other than the other party proposed the original plan and we cannot let them do something good for the country. But I digress, I would choose Australia, Canada, Europe or even shudders New Zealand over America. Healthcare here is somewhat affordable even if the system is quite convoluted, and the care is great, rarely have I been to emergency and had to wait more than an hour or two in public hospitals, and surgeries have been world class, my father actually had Japanese surgeons when he had his heart attack as it was when they were showing some of our surgeons how to perform a new, better version of the procedure. So those patriots telling me that the USA has the best healthcare in the world can consider whether or not they really need to be the best and most expensive version or if it might simply be a lie.
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