Exactly.
Italy government just announced that the capital gain taxation for Bitcoin will jump from 26% to 42%. So funny.
https://youtu.be/yaUpHFb81bQ?si=62kWSIOIqTm3XDUn&t=489
#italy #tax
I might be totally mistaken here, but I believe that the lack of clear economic incentives for Nostr relay operators can be a positive factor.
As hobbysts primarily focused on supporting the Nostr network, they will take no risk by hosting illegal content. On the other hand, they will still gladly store controversial, offensive, outrageous, ... material.
To detect and remove illegal content (which can vary depending on local laws), they could employ AI tools. By fine-tuning these tools to be highly sensitive, they could ensure that all potentially illegal content is removed.
While this approach might lead to the removal of some legitimate content, the relay owners can find comfort in knowing that the decentralized nature of Nostr ensures that this content is likely still accessible on other relays. The network's redundancy helps to minimize the impact of individual relay errors, providing a safety net for content availability.
nostr:note1weyc6ds8sajeq39ychr6mk6d7tp65z6tc403ay7h0j36r8lewjjs33l7dy
As if there was not enough evidence even before this last scam ...
Anyway, Bitcoin's potential transcends political divides. As shown in the The Nakamoto Project report:
- Bitcoin ownership is not meaningfully related to political orientation
- a typical Bitcoiner has a blend of liberal and conservative moral foundations
Therefore, making Bitcoin a partisan topic is simply not matching reality. You can download the report here: https://www.thenakamotoproject.org/report
/cc nostr:npub1n3sjlzmhpu8rl56umtptc4lua6zkretq2p82yhytnmlcuq639vlqd0te5l
nostr:note1mpgvt7x4er52m2whsa5gqjcfawhff96l90fjkndvdaaqd3v7lcxs2eaq98
Just stumbled upon these two tools for introducing kids to Bitcoin.
- Chorly (https://chorly.co)
Reward your kids with sats for completing chores.
- LightningPiggy (https://www.lightningpiggy.com)
An electronic (but physical) piggy bank storing sats. Customizable with lego, cardboard, 3D printed case, ...
#kids #bitcoineducation
> When you have only one month of budget or less in fiat on your bank account and that it's a fraction of your BTC holding, you are doing it right.
Nice metric! š
Btw, how do you deal with tax reporting of purchases made with BTC?
The main problem I see is that the primary incentive is usually "do it to support the network, bro." People are doing what economically makes sense. It doesn't make sense for me to get paid in fiat, have mostly fiat bills, and spend a fee to use Bitcoin, spend a fee to replace the Bitcoin, and then have to live the nightmare of tracking all of the buys and sells for my taxes.
There are so many differences between jurisdictions that there is no single answer to more people spending Bitcoin. The incentive where I live is to spend fiat and save my extra in Bitcoin. I usually have a disincentive to spend and replace. The only time that hasn't been true is when there is a 10% discount on some larger purchase I'm making. Even then, I usually don't want to deal with the tax tracking of it.
This is a multi-faceted issue, but I do agree that more merchants would not solve my issues. I actually don't even need merchant adoption as much as I once did (with all the conversion options). What I need is simpler tax tracking or no taxes at all on Bitcoin for the full economic incentive to bother with spending and replacing.
I donate a lot more Bitcoin than I spend because the tax situation isn't complicated for me when I donate.
I don't think the network is any worse off doing what I do. I'm still pulling value out of the fiat world and putting it into Bitcoin on a regular basis. I'm just not micro transacting myself to death when my reality simply isn't set up for it.
If Bitcoin was legally a currency without taxation, I'd be living completely in it today, even if I lost a percentage for doing so. I would do that on principle. But the amount of work I'd need to do right now is beyond what I am willing to do. There may be ways to make it easier, but not easy enough.
The UX and laws just aren't there for me yet. And this isn't really surprising. The Fiat rails have almost a century on Bitcoin.
We are going the right direction. I'm on more of a Bitcoin standard in my own life than I've ever been, even with how I use it right now.
Like nostr:nprofile1qqsw3znfr6vdnxrujezjrhlkqqjlvpcqx79ys7gcph9mkjjsy7zsgygpr9mhxue69uhhqatjv9mxjerp9ehx7um5wghxcctwvsq3samnwvaz7tmjv4kxz7fwdehhxarjd93kztnrdaksz9thwden5te0wfjkccte9ekk7um5wgh8qatz7tvu4p said, we're gonna make it.
Thanks, Matt.
The tax argument is indeed strong. Accounting is a heavy burden, especially in certain countries.
Probably taxes is another area where the collaboration between wallets and bitcoin accounting services might be useful. (e.g. Koinly, Taxbit, ...)
I put myself in the camp of those not really willing to use Bitcoin to purchase goods and services, and I agree with nostr:npub1m0sxqk5uwvtjhtt4yw3j0v3k6402fd35aq8832gp8kmer78atvkq9vgcru that this is a problem. He recently wrote:
> "We have more bitcoin merchants than Bitcoiners willing to spend. We donāt need more merchant adoption, but spenders adoption."
I believe that the "spend-replace" practice needs to be a no-brainer.
I used this approach a couple of times for fairly large purchaes I made. However, it meant that each time I had to complete the BTC payment with my wallet, then move the fiat equivalent of the bitcoin I spent to an exchange, then use that money to purchase BTC at a rate different from the one applied for the initial BTC payment to the merchant, then move the new BTC out of the exchange and back to my wallet.
Of course, this is very annoying and not sensible for small purchases. In those cases, it makes more sense to replace multiple BTC spendings with a single BTC purchase. However, doing this manually and on a regular basis, is going to be complex and time-consuming.
A more convenient solution would be to have your wallet automatically manage the "spend-replace" process in collaboration with services like nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7v, nostr:npub1yadzn065lkghcg7puhp2kn96tp79fzysq4j0vku9kntaa9j2cr2s3n98zt, nostr:npub19mf4jm44umnup4he4cdqrjk3us966qhdnc3zrlpjx93y4x95e3uq9qkfu2, etc.
I could simply receive an alert saying:
"Threshold reached! It's time to replace your Bitcoins!
Transfer xxx EUR/USD to Relai/Bittr/Well/... bank account to purchase approx. YYY BTC that will be received right in this wallet.".
I would immediately switch to a wallet offering this feature!
(/cc nostr:npub1eaadqhuwn80gatdml02u58q0nd65nx7wqur5je4jwa5gef0p6unqrx54mw, nostr:npub1lr2zzf989mvf393y0tv39ara6a4vddkd6y87z784up9vl6ks6j3qtudl6a that recently posted about this topic)
You are perfectly right.
Actually, things are even worse: all .io domains may soon disappear for geopolitical reasons.
Once, I hoped Namecoin/Bitcoin could give us a permissionless DNS, but it did not happen. Could Nostr be a new tool for that goal?
I wrote more here:
nostr:note12vy6ll7vg5vjepf5s3gyn7wajlwgg34efddlf2zcddr9r76h5caszg3frz
The bus, the train, the bike, a walk, ...
nostr:note1249uvzg837ps5sgh9u0yh3njfd02ls8hk2gsqqp4v05vfe8vlrpqqssqxv
#nostr disrupts group chats
#nostr disrupts crowdfunding platforms
...
Fascinating!
I only have a shallow understanding of these technologies, but aren't there overlaps between ActivityPub and Nostr?
nostr:npub12vkcxr0luzwp8e673v29eqjhrr7p9vqq8asav85swaepclllj09sylpugg If you need to preface a note ID with ānostr:ā in order for it to embed properly, then there should be a way to copy it that way from the three-dot menu on a post.
Only options now is to copy a full URL or a bare note ID.
I concur. It would be quite convenient.
You are welcome.
Keep posting! š
OK, got it: "we are all Satoshi" as a strategy to disguise those searching to identify the true one.
I was afraid it meant "Bitcoin is a collective creation" and therefore ...
Btw, I love the "Seven brides for seven brothers" parallel!
I agree with the distinction.
I do not agree with "we are all Satoshi".
And what exactly does "we are all Satoshi" mean?
I'm not Satoshi, I'm just grateful Bitcoin is here.
Sure, Satoshi built Bitcoin on top of other people's achievements. Nonetheless, the novel design is a masterpiece, the planned, generous disappearance even more.
"Speculating on Satoshiās identity isnāt just unnecessary; itās irresponsible and dangerous."
šÆ
nostr:note15v6qjqw3x7fvh3cgx0ntx9v83lzgf8768nzr6czq6ms5v9w29dzqfkc4ey
It's a detail from a Giotto's fresco in Padua, Scrovegni Chapel.
Here's the whole thing: https://en.wikipedia.org/wiki/Lamentation_(The_Mourning_of_Christ)