Unpopular Opinion: Bitcoin is hard money.
This is a very good thing, but some people read too much into it. If you live somewhere, you are only ever as sovereign as the laws of that state allow you to be. Bitcoin doesn't change that.
Discussion
Unpopular opinion: if laws are retarded, just break them
Big talk is easy, but most people don't follow through because they don't want to face the consequences. In the US many medical people think the new spate of anti abortion laws are retarded, but very few will break them.
Depends on a lot of factors. I don't know anyone my age that pays taxes in Argentina for example.
I wouldn’t advise anyone to break laws heedlessly, but we shouldn’t let the governing class live in our heads, either.
http://reason.com/archives/2013/04/04/im-teaching-my-son-to-break-the-law
I have broken the law. For cause. And was willing to accept the possible consequences (short jail term, most likely a fine). We blockaded 10 Downing Street back in the 90's.
But most people batting on about Self Sovereignty via Bitcoin are only ever going to be rebels in their heads. Or perhaps break laws heedlessly.
Bitcoin is a LEDGER. It is designed to be transparent. You can get in on the QT, but getting out, at scale, blows your cover. A tax investigation only needs to tie you to one onchain transaction and the subsequent audit blows up in your face.
Ooh yes it will, and it does. Ask the Nigerians, or the Turks, or the Greeks, Cypriots. Money decoupled from the state will set you free.
TaMeR - Hard money is good. But those Nigerians, Turks etc are still subject to the laws of their state and any taxes due. In that sense bitcoin is simply a better hard money (used to be Dollars people in crap countries held).
Remember, BTC is a ledger. You can get in without KYC, but you can't get out (at scale. Sure, bitrefill for groceries, but a car? a house?).
Hey, I live in Turkey. You wanna tell me what?
That you should be up to speed on your tax laws if you plan to cash out your BTC to buy a house for all the money down. Or risk finding that BTC is wonderfully hard money, but still, just money. Not an invisibility cloak
I can't leave with more then $10,000 worth of Fiat. But I can leave with any amount of Bitcoin. That alone makes Bitcoin worth it.
Yes. I am long on BTC, but what you describe is simply that bitcoin is brilliantly portable. But the country you move to, will expect their taxes to be paid when you cash it out for a house.
If I decide to spend my Bitcoin in a state with real estate taxes, I will pay my taxes. The point is I will have money to spend. Without Bitcoin I won't.
No one can make me spend if I don't want to. As long as I don't spend no one will even know what I have. I will spend where I am treated fairly. Noon of this applies to Fiat.
Actually it all applies to fiat. It;s just easier with BTC. You are actually agreeing with my original preposition. Using it as hard money.
I don't get what your point is. We have people from Iran here in Turkey. All they could bring was Bitcoin. Fiyat, Gold nothing works like Bitcoin, not even close. No one can tax you by force with Bitcoin.
No one can tax you on your savings. Tax only applies on spending, such as sales tax.
That is plenty hard if you ask me. And we never had anything that even came close.