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44 sats \ 2 replies \ @DarthCoin OP 1 Jul freebie \ parent \ on: BDMD #3 - Bitcoin is illegal because it is not legal tender bitcoin_beginners
For a country like El Salvador, if they really want to do it right is to start mining Bitcoin as a country (public company owned by each individual).
That means the bitcoin mined will be used to pay other private companies to maintain the national public infrastructure. In this way the gov public administration could fund itself, without taxing (robbing) people.
That is a real start of a Bitcoin circular economy. But in reality, govs will be outed slowly, because they will never do that.
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21 sats \ 0 replies \ @NRS 1 Jul
I wish to establish a public company owned by each individual And expelling governments out, governments are the basis of backwardness and barbarism
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0 sats \ 0 replies \ @BallLightning 4 Jul
Unfortunately countries can (and probably will) use bitcoin as an actual currency. They can pay government employees with bitcoin.
Country adopting and explicitly using bitcoin will diminish the ability of the state to collect taxes, but it WON'T eliminate it.
El Salvador is ruled by a dictator. In this specific case the country has no control over its currency, which currently is USD. Bukele loses zero power by switching to BTC, since the switch is from one form of money he has no control over to another form of money he has no control over.
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