Replying to Avatar Lord Wilmore

The biggest political obstacles would seem like laws which require paying income tax on price appreciations every time you use bitcoin in a transaction.

What do you think the social obstacles are? The volatility? The complexity of how to use it? The challenge to understanding bitcoin?
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Marc 3mo ago

That's a sales tax and I think that's what governments will need to do: Go back to taxing tea 3% instead of the 50% income tax.

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Lord Wilmore 3mo ago

I'd happily take that deal. The problem is that in addition to any sales tax, current US lax law requires you pay taxes on "capital gains" due to bitcoin price appreciation.

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Marc 3mo ago

Yes because you are avoiding the hidden tax of inflation.

I'm talking about when inflation is no longer a viable option to fund government expenditures.

The sales tax will probably closer to 15%.