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shyguy 6d ago

paying taxes on your bitcoin holdings, transactions or' 'gains' means:

- your beloved hard cap doesn't mean anything because the government can extract as much as she wants from your "gains" up to 100% or go full 6102

- since you are declaring your transactions you can spend your bitcoin only on government approved things and also won't be able to evade capital controls

sounds familiar? it is, because it is exactly how paypal and any other government approved fin-tech or your bank account works.

so what this all boils down to is that in the end bitcoin is just evading taxes and capital controls. if you say otherwise then I'm sorry to tell you that you are just larping and bitcoin is doing nothing for you and the government is still in full control of your bitcoin. in this case you will have to continue seeking solutions in politics (which is the system we already had before bitcoin)

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BitcoinGranny 6d ago

Well, there are several nation states that do not tax any crypto capital gains. I know that isn't what you mean, but...

Also, financial privacy is still paramount, but until the Bank Secrecy Act disappears, idk what changes. Keonne & William tried.

😱

What will bitcoin be in the future?

I don't think anyone knows for sure.

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dvo 6d ago

the methods and tools to seamlessly get around enslavement through taxation haven't even been written yet

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dvo 6d ago

(we're still so early)

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jakub 6d ago

You make it sound bad? Evading taxes is necessary.. I’m sick of paying for Somalia day care centers.

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shyguy 6d ago

no, quite the contrary. as i said in my earlier post, if you feel morally obliged to not pay your taxes for whatever reason (somalia day care centers, your government constantly waging unjust wars, living under a totally fucked up regime or just because you consider taxes theft), then bitcoin should better be able to do you a service. otherwise it would be a useless tool (which i don't think it is)

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Patriot 6d ago

Two things here:

1. Bitcoin is peer to peer and does not require banking intermediary or a government to transact digitally.

2. If you convert to fiat, you are obligated to the government that controls the fiat.

Finally, not your keys, not your coins. If you are going to have custody solution for your bitcoin, you are beholden to the policies of the holding company and the jurisdiction of that company.

Bitcoin is a fledgling currency and technology. We won't see meaningful change until the majority of transactions happen in #btc and we are counting sats only. We are long way from there and many roadblocks can halt progress and even eliminate bitcoin. I know this not popular among the euphoric maxis.