| Good dialogue so far but you've lost me with this. When I buy a big vault, extra door locks, a pitbull, and a gun to protect the gold I store at home to go full gold buggery, am I paying for the investigation, enforcement, and regulation of gold? This is what I mean by its expensive to secure my own gold. When I store gold at a business that specializes in such services, am I paying for the investigation, enforcement, and regulation of gold? If yes for either of these, how am I not paying for that same investigation, enforcement, and regulation of crypto when buying a vault for my crypto or paying one of many such companies to hold it for me? I don't really get what you are subsidizing that you don't also subsidize for pokemon cards, private equity, or any collectable. Gold is exempt from sales tax in most US states so I really have no clue what you are on about. Incase I've missed something, on behalf of all crypto users you have my full permission to stop subsidizing all USG employees trying to investigate, enforce, and regulate crypto. |
No, you’re paying to secure it. That minimises the fraud around gold.
> When I store gold at a business that specializes in such services, am I paying for the investigation, enforcement, and regulation of gold?
Id.
> don't really get what you are subsidizing that you don't also subsidize for pokemon cards, private equity, or any collectable
Private equity is subject to some reporting standards under the ‘40 Act because it is a haven for fraudsters. Pokémon cards are not similarly problematic so they’re not. Crypto, like securities and gambling, has proven itself a haven for fraud.
I don’t demonise crypto. But we need visibility, laws and enforcement, as well as a stream of revenue to pay for it.