The general consensus is that bitcoin is disruptive to the banking and financial infrastructure and that politicians are likely to defend the system as they are almost entirely interchangeable - i.e. policy dictates banking and banking dictates politics.
But how could those in government benefit most from bitcoin?
What would be the consequences if a country were to de-peg from the USD and peg their currency to say 1,000,000 BTC that they had secretly bought over the counter?
What if weaker countries decided to issue BTC notes that were partially backed by actual BTC?
Couldn't politicians benefit by promoting bitcoins virtues whilst winning voters?
Later couldn't politicians use the audit ability of bitcoin as a way to automatically tax people if they issue 'identity associated bitcoin addresses' to individuals and thus make it illegal to hold private unidentified wallets?
What I'm getting at here is how can bitcoin be best 'sold-in' to politicians as a mechanism for themselves that will effectively further the end game vision of bitcoin...
Topic: How much can governments benefit from bitcoin? (Read 298 times)
Jump to: