[PeterPrinciple]

The government isn’t subsidizing the process,

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I would add, that subsidy doesn’t always mean a check in the mail. Anytime government or well intentioned organization changes the risk situation such as guaranteed home loans, that is a subsidy.

I am not an anarchist . Government has a purpose but it has overgrown itself. I don’t have a moral position on this, which you seem to have taken. I am just reporting the obvious. The government shares in my gains as well as my losses via the tax structure which is only fair. But they do stack the deck in restricting my losses.

My major point regarding bit coin is no one wants to talk about losses and there will be some. The politicians only see gains to be taxed, They don’t want to talk about the losses. So in their minds, they only see the REVENUE, not the NET.

[Errant]

The government shares in my gains as well as my losses via the tax structure which is only fair.

Respectfully friend, you need to loose the mindset that your benevolent government is sharing in your losses. It isn't either philosophically or practically.