Bitcoin Is Forcing The IRS And Central Banks’ Hands
From our friends at The Merkle:
As Bitcoin becomes increasingly prominent within the global economy, there is a rising concern as to how it will be taxed. Other digital forms of currency, like credit cards and EMV card technology have made transactions more convenient, but they are still tethered to the old banking formats, which require personal information to create accounts. With Bitcoin identities are not used and that creates some concerns with the establishment’s methods of money creation and taxation.
The powers that be realize that they can't stop Bitcoin. Smart money among elites are scrambling to get onboard as quickly as possible.
Bitcoin is becoming way more than a payment network or currency. Bitcoin now embodies the commoditization of certainty.
As you've noticed in the news, companies and governments are discovering that having a private/permissioned blockchain is meaningless unless it's linked to the original blockchain!
Bitcoin is beginning to replace government as the ubiquitous trust anchor of last resort. As this process continues I believe a threshold will be reached where separating the "system" from Bitcoin will be infeasible. At that point we can say Bitcoin has become "too big to fail"!
I like the sound of that. Don't you?
I don't think bitcoin will be too big to fail, simply because we are supporting it! We don't need the government to bail out bitcoin like they did with their friends, I mean, bankers.
What I meant by too big to fail was that the government won't be able to attack BTC because they rely on it.