Bitcoin was once viewed as a means to opt out of violent, legacy financial systems. Now, it is being co-opted by the very same, and zealous newcomers to crypto think that’s a good thing, while still giving lip service to peer-to-peer values. Ignoring the problems with fiat money, they beg political interests and bad actors to regulate Satoshi’s digital innovation. One such actor, Joe Biden, has been in the news recently complaining about not getting enough tax money from struggling Americans. To Biden and his elitist ilk, the destruction of crypto’s possibilities for economic sovereignty is a goal. Taxation is a key means to make that happen. To the crypto OGs, taxation is still theft, and permissionless, peer-to-peer exchange is still the answer.
Stop the Sugar-Coating: Why Taxation Is Extortion
There’s an old saying that goes: “you can’t make ice cream out of sh*t.” It’s crude, maybe, but speaks to an important reality in both the realm of ideas and the physical world: something is what it is, and it ain’t what it ain’t. You can’t make a palace from a porta-potty, and you can’t make the literal stealing of taxation, inflation, and fiat currency devaluation into a good thing for any sane society.
Taxation is a euphemism for extortion, writ large. Advocates of taxation (the sustained and systematic extortion by the state for one’s entire lifetime) make the same arguments for forced financial servitude as slavers in the American south made for their own brand of brutal, physical tyranny. Appeals to tradition, humanitarianism, fear-mongering about economic collapse, warnings of violent chaos and anarchy are all here. “But who will pick the cotton?” has found its modern analogue in “But who will build the roads?” Or, as this article alludes to: “Who will buy the kid sniffer his ice cream?”
A simple illustration of why taxation is theft (just below) will be a helpful introduction. But first, here is the definition of extortion:
Extortion is defined as “the practice of obtaining something, especially money, through force or threats.” The basic problem with the fiat system of money and its printing and taxation is violence. As Satoshi encoded in the coinbase parameter of block zero, or the genesis block of the Bitcoin network:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks
Because of the state’s legalized extortion, we foot the bill for such bailouts, while the ones on top of the…
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