the downside of this new technology

[Guest]

After realizing that anarchistic p2p digital currency is not going to take over the current financial world i sold my bitcoin and went all in XRP somewher this summer. I have some stores and it just seems so unreasonable that everybody in the world should adapt a new technology that's slow and unpractical. I realized no store owners are going to trash their expensive POS hardware and switch to some unknown bitcoin. It was a silly dream that some kids still seems to be dreaming. Okay nothing wrong with banks or the money they make. Some practices are quite appalling but that seems to origin mostly from the politics.

So now it's almost 2018. I have been watching the rise of bitcoin since early days and i'm really shocked about the current crypto madness. 2000% profits is normal. I'm pro sovereignty so i'm liking every minute of that. but i also start realizing more and more that there will be a huge downside to this. Big brother will be watching.

You know why governments are not interfering the madness? They like what's happening. They see massive incredible opportunities for tax collection. Imagine complete digital transparent money flow. combined with digital identity.  Imagine you order something from aliexpress, within the payment transaction is also included in a smart contract the amount of VAT and import duty's  that will be deducted automatically from your wallet. But also on other levels there are very large opportunities for tax collection. I think that in ten years cash money is cancelled and black money flows are minimized to a trade market. All your purchases and transactions will be A.I. monitored. or perhaps monitoring is not even needed because transactions can be taxed instantaneously by shifting VAT from the seller to to the purchaser or other smart contract wizardry. The Tax office will become a fintech company completely operated by A.I. (okay that might take another century)

 I believe future politics don't care who  or where you are or what you buy as long as they can realtime tax you.  (I live in a country with 21% VAT and 52% tax so i might be biased and not part of the free world)

Still think that blockchain and ripple will make the world better, just a thought. 
(sorry for spelling mistakes english is not my language)

 

 

Edited December 20, 2017 by Guest

[djn121]

Sick Avatar! Llama's for life 

[Stormm]

Which is why anon/privacy coins will see the biggest gains in the mid to long term IMO

[teddybear]

On 20.12.2017 at 2:36 AM, Storm8559 said:

Which is why anon/privacy coins will see the biggest gains in the mid to long term IMO

Is Zencash part of your pick?

[Stormm]

On 12/27/2017 at 2:31 AM, teddybear said:

Is Zencash part of your pick?

is it a privacy coin? then yes