imagine paying 2%yearly property tax on bitcoin.
it makes sense to me that tax treatment of "digital property" would look more like stocks because real estate has the water,sewer, electric, school district things that go with it. and you can't move easily so you're stuck with the taxes.
it would be hard to have digital property tax because it could move jurisdictions so easily
that's land property not property in general
they don't charge taxes on holding gold, silver, copper, or gravel, bitcoin would be the same, at best, sales tax, but i think in many places no taxes apply to gains on such "property" sales - same as land property but land property taxes are also a local council tax not a federal one
hah, reminds me also how the whole mortgage ponzi of land-as-savings NGU was of benefit to the rentseekers in local councils, because they base their land taxes on "estimates" of retail value on the ongoing nearby property sales
i hate rentseekers so much, they make me not want to be involved in anything they claim they can extort for
YES, we are finally at the dawn of a new era where people will be able to live in THEIR own houses and land again. I think this may be one of the biggest reasons I love bitcoin.
the pond with the waterfall and the waterwheel that you can never make because you're a renter will finally be a reality
yeah, the chicken coop and the yard full of sheep also
my entire 30s were destroyed by this abomination
it's OK i've gotten so used to a shoebox, that I can't deal with sleeping in an actual house. What's in the closet, what's under the bed, where's the partner, where's the dog, what's the sound in the attic.
I actually am considering going smaller to a 35ft sailboat, and then I will always be aware of everything in my surroundings. And the Ionized air will evaporate all ghosts and spirits that try to visit.
Still doesn’t answer my question, how is it not already foreign currency. Is El Salvador not a sovereign nation? Is it not foreign currency bc Saylor says so and doesn’t want to rustle feathers? Why has no one asked this yet? As soon as ES made it legal tender this was my first thought, and why the IMF was so salty, how dare they!
And also I don’t hear people saying gold is a “digital New York in cyberspace” so you can see how I am concerned this may be a slippery slope, correct? I don’t want to have to move from the US bc of bad metaphors.
I suppose that's the attraction of El Salvador. they have nothing to lose from making it currency, and in the process just provided a lot of regulatory clarity. For all those builders who want to make something without waiting for more clarity for the US, it makes sense to move already.
How robust is their legal system for continuing the clarity. Will the US continue to have the best legal system for administering abstract property rights. Or do supreme court justices get threatened here or there.
Idk you’re not really saying anything to me rn. They are a sovereign nation, this is not a question. Bitcoin is legal tender in their nation. Thus, it is a foreign currency to ppl outside of ES. No different than me using pesos right now in Mexico. I wouldn’t pay capital gains on the peso if it outperforms the dollar. But no one wants to touch this topic bc they don’t want to rustle feathers or scare off other billionaires, but they are going to adopt btc regardless to protect their wealth.
Yea this is a hot topic as no one wants admit that btc is a legit contender for the dollar hegemony. I think Saylor understands this dilemma but it’s not a fight to be fought at the moment, troyan horse of saying store of value or property wink wink
Anyway it’s in the title “Bitcoin: A peer to peer electronic cash system”
Yeah that seems to be the case lol. Giant elephant in the room may lead to real consequences to us though. If the US is worried, they should be adding btc to the balance sheet rather than pretending reality is not reality. It’s already forex. The shot was already heard around the world.
They know that already and paying cap gain taxes makes no sense whatsoever. If trump doesn’t win or falls through with his promise to create the btc reserve, the US is cooked. Time to move to Latam lol
Yeah Trump really needs to win. This is also probably why he’s bullish on btc now too, he doesn’t want the capital and human capital leaving. Politics nattering
the 400 year time limit for empires is expiring in the next 50 years tho, i think that it's basically a given that the next empreror is gonna be a nero
it is time for a new centre of the world, but i think that is also a doomed project because very likely we are coming to the end of an interglacial and things are gonna get a lot colder soon, and there could well even be a global scale catastrophe that cuts the human population down, right down, with the magnetic field weakening due to a change in galactic field orientation in our vicinity (the 25000 year cycle, every 12000 is Great Flood scale)
i think the most important thing in the next 50 years for our species is keeping our computers working and our archives in one piece because without that it's gonna be hard to thrive if this next cycle is another millennium of cold like the Dryas
Maybe it’s because ES does no issue bitcoin
