they will find the loopholes and use them
I personally believe that loopholes will always be invented especially in the crypto-sphere.
Tax I believe is a good thing whe utilized in the right way, cant say for sure about other countries but here in Nigeria it's a different story and the government cant tax what it doesn't understand, so they just banned the whole crypto thing here.
Just a way of saying if the can't benefit from it then no one can, and just as crypto is meant to be decentralized and about finding loop hole we got p2p at it's highest, now we can easily trade crypt without involving the banks, idk what they might still try to do about this in the future but I think crypto being decentralized should not be taxed by anyone, the government doesn't have to be dictating everything for it's citizens all the time.
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The difference is, on the blockchain, every at any level can access them (depending on the blockchain rules itself).
Paying taxes in places like Nigeria is obviously supporting a lot of corruption, right? But, this is just a spectrum of all government activity - corruption of various kinds exists everywhere. Banning crypto is one of the craziest things they have done, but from a corruption and control level, it makes sense - they want the loopholes open for them, not to empower everyone.
100% true.
I agree with you, corruption exist in all kind of forms and its different for every country and states all over the world.
That's the selfish type of devil we have as government funny thing is they can't fully understand how it works neither do they have the knowledge of what blockchain means, it will be hard for them to comprehend such tech. Most are just bunch of old folks who don't want to empower they younger ones. They only make money to send their families to other countries and settle there after they are done with their embezzlement.
sorry about my rants, but its a different story now that crypto has been around. I believe more privatization will definitely be a gamechanger
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