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GM #nostr

Such a relief to know that we can have savings/retirement funds in sats so it won't be confiscated like normal pensions, by the same people that have already stolen billions in pensions and are now branding the next heist as some miracle, careful allocation that won't result in loss of pension funds, like all the other billions 😜

#bullishbounty

#bitcoin

https://m.primal.net/Pcrg.mp4

FreeYoda 10mo ago

Don't underestimate how firm the fiat system is still in place.

As soon as one tries to live off their #Bitcoin this will get clear.

Most countries now tax #Bitcoin gains or tax it when you turn it into fiat.

And if we are honest most most of us still need fiat just because #Bitcoin is not accepted as currency for most things.

Yes you can escape those tax systems but that are big changes.

Not to mention you need quite some value if you want to quit your fiat live and start living on a #Bitcoin Standard (for me meaning live off my holdings).

For now I only see more #Bitcoin tax laws arriving (Europe) and escaping it getting harder.

Game theory will force them to nurse the wealthy but for now they see us as milking cows.

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Discussion

Hopeful_Sat 10mo ago

Harsh, but it is the reality, yes. At least when you try to live on a btc standard now you will get taxed on the increase in value, but at least, I think, in the long, you will miss out on most of the devaluation that you would experience without it (the tax on the increase in value being the effective devaluation that you would experience). But I agree with what you are saying

As a working, still fiat mining pleb, I try to accumulate as much as possible and hold it as long as possible to at least miss part, but not all, of the usual devaluation

Europe does seem like it's heading in the wrong direction, but at least the euro only loses a third or so of the value that, for example, the zar is losing 😅