Once capital gains are eliminated on Bitcoin, onchain activity will skyrocket which will exponentially increase Bitcoin’s adoption of becoming a true medium of exchange. When that happens (probably very soon), the last thing you want is spam choking the network.
Discussion
Capital gains being eliminated soon is optimistic no?
I don’t have a specific timeline or anything but I think we’re close.
. .. isn't it going to moon 😭😭😭 .. why would you ever exchange it unless distress ..
And why everyone is so paranoid for more txns ???
Remove capital gains on Bitcoin, and there’s your banana zone.
How about removing capital gains on gold :-) .. and stocks .. and homes ! .. I think last one is really important ..
bitcoin is money, so technically there is no capital gains that it can be taxed. If another currency loses its value against bitcoin, is your bitcoin really gaining more bitcoin or it’s simply preserving its value?
From money you mean butcoin is currency .. not assets ..cuz assets are capital taxes !
What makes you positive on that? I have rather the feeling that nation states increasingly see tax potential on capital gains within Bitcoin. Germany was close to cut the 1Y tax free rule, Italy has increased tax and I think Japan too.
Yep, the capital gains issue is major. The government is smiling in our face about Bitcoin while intentionally suppressing it. I think you are optimistic saying “probably soon” because it would have happened by now if it was something the government was ever considering. RFK Jr spoke about exactly this in depth at last year’s Bitcoin Conference in Nashville, TN that Trump was also a part of. We should stop allowing the Government to stall us while they work to develop a CBDC or whatever name they want to give it. They are stringing us along to buy time. We need to create large Amazon-style marketplaces that are decentralized and importantly non-kyc that accept Bitcoin. Nostr feels like a great platform for it. We need to create the world we envision before they create theirs first.
No capitol gains means it becomes even more a store of value.
I'm not sure 'they' are ready to have that happen and keep capitol gains on what is currently their 'preferred' SoV.
I'm in the Uk though. Maybe that skews my perspective.
I agree with everything except that it will happen soon. In my opinion we still need 10/20 years