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13 sats \ 1 reply \ @0xIlmari 12 Jun \ on: How Would Government Handouts Work on a Bitcoin Standard? bitcoin
Handouts would largely cease to exist for two reasons:
- People would be far wealthier (because the gov't can't steal their money so easily and spend on stupid shit like wars) and thus not require handouts, at least for basic sustenance.
- Since the only way to fund handouts would be through taxation, people would soon realize that such a redistribution of wealth is better executed by private institutions, a.k.a. charities.
Most people agree that, if a government must exist at all, it should protect the vulnerable. But Bitcoin eliminates even this relatively uncontroversial raison d'être for a government.
Excellent take
I agree
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