How Crypto Can Save The World

American Economics

The American economy has been incredibly unstable the past 40 years with the stock market crash in 1987, the junk bond crash in 1989, the dotcom bubble and subsequent crash in 1999-2000, the stock market crash in 2001 following 9/11, and the global financial crisis in 2008.

The perpetual recession we've been seething in since 2000 should really be called a depression, but maybe with Trump's election and a massive rebound of the stock market that will end.. Economic experts don't guide politicians to implement fiscal policy that intentionally hurts the economy without having legitimate alternate motives and agendas from the politicians themselves and agents such as Janet Yellen. A great question to be asking congress and the federal reserve is why they intentionally have a defective fiscal policy.

Crypto Implementation

I think every American should be contacting their state senators and congressmen/women asking why they aren't doing anything to fix the fiscal policy, not only in terms of the ever growing budget deficit that directly causes inflation, but also how to protect the $USD as in what will back it, ex. gold, silver. Even a national cryptocurrency wouldn't be a bad idea, as long as there is a way to keep a fiat currency from falling so much from an economic crisis that it is worth less than a sand dollar.

China and Russia have even talked to Vitalik Buterin, the creator of Ethereum and its' blockchain, about creating a nation cryptocurrency based off of the ethereum blockchain and backed by the blockchain technology, so you can have smart contract capabilities, along with being a store of value, and having fiat pegged to the digital currency blockchain.

There are even individuals in Venezuela who mine litecoin as a way to feed themselves and their families, literally saving themselves from starvation ever since the socialist country's fiat, the bolivar, entered hyperinflation. That gives testimony to how crypto can be used to help save individuals during an economic crisis, the same kind America is headed towards.

Government Run Crypto

A way a government could still have a tax plan in their fiscal policy, because crypto currencies are inherently resistant to taxation, is by not taxing the blockchain itself, but by having crypto addresses linked to personal identification just like a bank, and taxing individuals based off of what they have earned. Another way would be to have the miner transaction fees serve has the tax that individuals pay, but that is if the federal reserve/U.S. Mint/Treasury Dep. are the ones that own and facilitate the mining rigs that mine the tokens. The only way a digital currency can be transacted and moved around is if blocks are being mined for a reward, but are also vital in that they store the transaction history to the public ledger which is the blockchain itself.

Since the turn of the century governments have been finding a way to use or create a digital cash, i.e. paypal, debit cards, credit cards, wire transfers, etc. Yet the only problem with such things are the intermediates such as the banks or paypal itself. It means less money in the pockets of governments, which governments already don't like. So if the U.S. government used a cryptocurrency they would "control" and earn more money, and also achieve an important piece of the U.S. fiscal policy that they lack right now which is the ability to guarantee their fiduciary duty to the American people in the event of an eminent economic crisis/collapse, rather than the supreme court signing a law that just pretty much just says that they'll make sure we can still buy goods and services with $USD, which is just promising rather than actually backing.

Resolution

I must make it very clear that I am not in favor for bitcoin or litecoin to be regulated and taxed by governments, but to rather become more anonymous in the way that they are purchased, since you need to have your ID verified by an exchange. What I am suggesting is way for governments to help make cryptocurrencies mainstream, thus increasing the value of bitcoin and also protecting citizens financially so that millions or even billions don't die in the event of a total global economic meltdown.

This being my first post I'd love feedback on what I can or could have done better.