90 sats \ 2 replies \ @ElectronicsQuestions 27 Apr 2023 \ parent \ on: Elizabeth Warren Wants The Police At Your Door If You Have A Bitcoin Wallet bitcoin
In such a scenario, she literally couldn't. The dollars she has would be worthless, and she has no useful skill. If she is forced to get a job that she can do for the rest of her life, what would that result? Maybe a current-value few cents equivalent per person she harmed, at most, probably far less, depending on how many it is. American financial legislation has a nasty habit of spreading to the rest of the Western world.
You aren't wrong but since we are playing this hypothetical game. If this was the case many others like her would be in the same boat so you would have many politicians paying back those that they harmed. On a bitcoin standard even working in fast food would not be denominated in dollars. It would be bitcoin. And there are a lot of rent seekers so it could add up. Better than paying to have them sit unproductive in a prison. I'd rather save those places for those who are too physically dangerous to be among the population. We need to move away from violence. Cages should be the last resort.
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True, there would be many. I actually erased the BTC value I wrote and wrote "current-value cent equivalent" instead, the reason being only that I don't know what value BTC would have in that scenario - massive, but I couldn't pinpoint it to within 2 orders of magnitude. (Using Knut Svanholm's formula, I don't know the value of everything, to divide by 21M.)
I wouldn't trust that a person like her wouldn't turn to physical violence though, but that would have to be left to after the fact, as it should be. Innocent until proven guilty, unlike the assumption these people want regarding "money laundering" etc.
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