Central bankers and those cronies who sit close to them are mighty quick to dismiss bitcoin. Nevertheless, bitcoin's price rises. Impressively, it does so while fighting with one arm tied behind its back.
Bitcoin and gold, in the U.S. anyway, are taxed. That is, if you buy either of these assets and the price goes up due to central bank debasement of the currency, you must give up a portion of your holding to the government. It isn't that bitcoin or gold has changed, it is that government debasement of the currency lets the government steal from you twice: first when they print and someone (not you) gets something for nothing and then again when they point a gun at you and demand a tax payment. It is insane that people put up with this. The good thing is that it will change.
The game theory aspect of this will be interesting. Somewhere in the world, a country will want to establish itself as the place to be for bitcoin and blockchain. They will stop taxing it. Bill Tai thinks Japan is heading in this direction. Let's hope. The dominoes will then fall nearly everywhere.
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