Benewing on Nostr: ot of what you're saying doesn't really make sense. Firstly, the amount of seniorage, ...

ot of what you're saying doesn't really make sense. Firstly, the amount of seniorage, which is money debasement, relative to the income tax collected in developed countries is really low. Like, maybe money printing accounts for 10% of tax generated through direct taxes. This can be higher, like maybe 20% in developing countries, or 50% in hyperinflation countries. But in developed countries, it's a really small amount. So you can't really say that governments need to print money to get the country going and cover expenses. And that if the government just raised taxes a little bit more, that would mitigate the need to print money at all. Like, you have to have one or the other. Secondly, no, the government couldn't raise tax effectively if Bitcoin was the standard. Because the transactions would have to be traced, and privacy measures would mean that it would be very difficult to trace Bitcoin to collect tax on it.