You disappointed. Tax evasion surely the correct answer!

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I am disappointed*

#bitcoin is for freedom

That wasn’t option. But I agree.

I think is the option that combines all the ones there 🤙🏻

You don't say the quite part out loud.

Oops 😅

Idc

I want to spend, but I haven't got enough 😁

Monero and privacy coins are for tax evasion. I am not saying it is impossible with btc, but it could potentially bite you in the ass later on. Sooner or later government thugs will invest a lot in blockchain analysis and just one mistake that can be traced back to you could get you in a world of shit.

Not impossible, just not optimized for the task.

Now you understand why I support BIP 300.

I am not familiar with that BIP and the technical description is quite above my btc tech knowledge. Would you be so kind and explain in a couple sentences what it is the BIP proposes?

BIP 300 and BIP 301 are two BIPs that allow for the creation of trustless side chains. You keep the maintain unchanged. However, you get more scalability options and features with your bitcoin.

You simply send your bitcoin to a sidechain of your choice. Some side chains optimise for payments, others for smart contracts, others for end-2-end encrypted private transactions.

Miners get all the fees from the transactions on the side chains.

Lightning is vertical scaling.

Drivechains is horizontal scaling.

I think it would also kill shitcoins or at least help increase bitcoin dominance. As it would make all “bitcoin competitors”, smart contracts alt coins and privacy coins pretty much useless. As you would now be able to do all on bitcoin side chains. Bitcoin would be the native currency of these side chains of course.

Does that help?

Look at drivechain.info or layertwolabs.com for more.

My first impression is very positive. There may be some issues. that I am not aware of, but it seems promising.

However at this point in time, if I understand it correctly, there is only a BIP, that may eventually be agreed upon, that would allow devs further into furure to possibly maybe develop something similar to how Monero works now.

It may be the future and I hope it will be, but right now, tax evasion should imho still be reserved for tools designed for that purpose like aforementioned Monero.

Is this what was colored coins was?

Nope.

Still early, but people don’t see how hard / close to impossible it will be to collect taxes at the efficiency the state currently collects it on income and sales.