If all the money ends up in hands of billionaires and their corporations and there will be no money in hands of regular plebs…
Who do you think will have to pay the taxes?
Also, the people would figure out a different way of trading or currency. And with that one getting taxed, all the billionaire’s money become worthless.
Oh yeah, it’s stupid. But so is the idea of non-governmental currency having any sort of real or consistent value. Every exchange type that we come up with is subject to the same problems as crypto. Crypto just got there faster