J.P. Morgan To Copy Bitcoin?
- Thread starter productionhead
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I think you misunderstand what government is.
Monopoly on money is the most important source of power for governments. They no longer have monopoly on information, all they have left are increasingly dissapearing borders and their monopoly on money and through that taxation.
Once monopoly on money is gone, bye bye government nation states.
How do you tax a crypto-currency? Without tax, no bloated government.
The future is either full scale facism or a return to smaller voluntary fiefdoms in the spirit of Singapore and Hong Kong.
Why not just tax it the same way they do it now? The IRS doesn't monitor everyone's accounts and automatically withdraw the amount they're owed, they just rely on you to fill out the forms in April and pay the required amount. They even deliberately increase the tax rate as a contingency to allow for people cheating, so they're always covered.
A lot of corps don't pay taxes anyway. And Average Joe earning 50k a year as a Target manager isn't going to cheat much regardless of whether he's being paid in cash, direct debit, or bitcoin. So I doubt much would change.
Everyone knows that if you work at J.P. Morgan it is because you weren't good enough for Goldman Sachs.
J.P. Morgan Flags $2 Billion Trading Loss - WSJ.com
J.P. Morgan Flags $2 Billion Trading Loss - WSJ.com
Jon should have never opened up tagging to everyone. Not because that one is about me, but because it's neither funny, nor does it make any sense.
I don't have a dog in the Bitcoin fight. All along my position has been if we define what sound money is, and we define what Bitcoin is, Bitcoin is not sound money. And implicitly, our goal should be to have sound money for all of the social, political and economic benefits it brings.
Much like the global warming people have shifted their language to climate change, Bitcoin people have gone from referring to it as money, to a currency (which was something I posted here almost a year ago) to now, "a transaction network".
Moving goalposts are nothing new, and it's why I don't pay a lot of attention to neomania.
I think you misunderstand what government is. Government is a mass delusion. It's based on faith not power.
If you think government rules you, you've missed the whole point. The people around you who stop for a cop, or pay their taxes, or put their hand over their heart and sing the anthem, those people are giving form to the idea of government. Without faith, without obedience, there is no state. It's not the stick that came first, but rather the fist that arrived after belief.
It can become sound money.
Your position is analogical to saying the Internet will never become a beneficial tool because most web traffic is for porn and 99.9% of all emails are spam — which was the truth in the beginning stages of the Internet. But look at it today. Furthermore, your position is analogical to giving up on the Internet because of the boom and bust of the 90s — but look at it today.
Bitcoin is revolutionary mate.
I believe all governments will give up their power by ceding control of the monetary system by which they control the individual, to the individual. I believe this because throughout history, governments have always shown a willingness to cede power to the individual, and the people have always shown an ability to embrace that new found power for the betterment of their fellow man.
Bitcoin
Bitcoin
No, it can't. It can be something else, but it will never be sound money.
I hope you're trolling me with this.
"There have long been claims that some unspecificed "they" has "changed the name from 'global warming' to 'climate change'". In reality, the two terms mean different things, have both been used for decades, and the only individual to have specifically advocated changing the name in this fashion is a global warming 'skeptic'."
Global warming vs climate change
These are all from the past 24 hours :
Global warming is unpaused and stuck on fast forward, new research shows | Dana Nuccitelli | Environment | theguardian.com
Stephen Colbert's guest says sulfuric acid could stop global warming - latimes.com
New Greenhouse Gas Discovered, PFTBA Has Higher Global Warming Impact Than CO2
White House holds global warming task force meeting despite snowfall | The Daily Caller
Montreal Protocol: The little treaty that could — tackle global warming | Nation & World | The Seattle Times
Will kindler, gentler guerilla be replacing grinch guerilla at any point during the holiday season? :xmas-smiley-022:
Don't know how reliable this is, but:
JPMorgan 'has no plans to introduce bitcoin-like currency' | South China Morning Post
JPMorgan 'has no plans to introduce bitcoin-like currency' | South China Morning Post