While I absolutely disagree with this strategy, I frankly see no other realistic, viable alternatives.
BTC will die a governmentally regulated death...it's now a matter of how and when.
Yes, people could push back, but virtually none will--
The secrecy of communication is also guaranteed in the US...until the government decides to ignore the constitution (without penalty).
Laws are irrelevant if no one is willing to enforce them.
All I can say is their support is off the charts - they get back to you right away, and try to solve any hiccups.
That speaks volumes in my book...
Well, now I know who to go to when I need advice, or my welds aren't coming out well. 😃
Love some of the improvements to the #primal desktop
Agree--wish there was a clear better option, as I only see the US getting worse.
Anyone in El Salvador? What's your opinion?
Man I wish I could weld like that (amateur MIG, and boy am I an amateur).
Perhaps...yet think about J6...
Have there been any demonstrations regarding elections since?
Essentially they made an example of the people at J6, and now everyone is afraid to speak up (lest they be labelled 'terrorists' and locked up without trial...forever).
Now the precedent has been set - label someone a 'terrorist'. Once you've done that they're convicted without a trial--all rights are removed.
Most are complacent now--we're comfortable, and happy to give up our privacy for convenience and "safety".
Whether BTC is compatible with Fiat or not, I foresee it being absorbed...it'll be taxed and controlled. Maybe in some places in the world (El Salvador?) it won't be--but how many of us will be prepared to move there (really...) and even then, it's really only one election and one corrupt leader before things could change.
1984? We're already there....
Agree...yet most in today's world are too comfortable to resist. People will just say "government, please take care of this for us--we need to be 'safe' and privacy no longer matters to me".
There's no more "fight" in America--that generation is long gone...
GM Nostr
Gotta love Friday coffee...as the saying goes: "Good to the last drop!"
#coffeechain
Lying to the government? Seems like a felony to me--why only a terrorist would do such a thing...and therefore we can jail you indefinitely without a trial...
We do that a couple of times, and everyone will be afraid--rebellion over.
Oh I totally agree with you there--we cannot comply. I just fear that our voices are not significant (and even if they were the government will do what it needs to do to stay in power).
I do not see (at least the US) government allowing BTC to move freely as a currency without taxation...and as I ruminate on this, I don't see a way around it....
And that initial wallet is always known--either it's a KYC exchange, or if you need to, you can simply go back to the original miner--it's all there on the blockchain.
See my other note--all the government has to do is say "Coins moved...taxable event...pay up" and you have no recourse other than to pay the tax, or divulge you've moved coins to another wallet you own.
I do appreciate the discussion, yet I see challenges no matter how it shakes out...
So--it leaves your wallet...
Government says: "I see your BTC has left your wallet--that's a taxable event--pay up!"
You say--"But I moved it to another wallet I own"
Government: "Great - we'll watch that wallet now and tax you if those coins move inappropriately--oh, and you owe us 1% for the Elizabeth Warren taxk"
I don't really see an alternative here--coins leave your wallet you get taxed, or you have to divulge that you own the downstream wallet...
So I'd counter that most BTC is purchased KYC--therefore, those coins are traceable.
And when they eventually make it into your wallet (no matter how circuitous the path), they'll be identifyable.
Worse still, is each transaction along the way is a taxable event, and the government will extract its pound of flesh from each.
AI makes all this efficient...and because the blockchain is public, all the data required for the analysis is available.
Mixing services...maybe, but I have little confidence that those are impervious to AI.
Essentially the origin of all coins is known (i.e. the original miner)- what's left is simply the legwork to trace their path across the different owners on the blockchain.
Conceptually similar to the old where's george on steroids...
We need a "solution" for KYC and AI. IMHO AI will soon scour the blockchain and be able to trace all coins (sources and destinations).
The illusion of BTC privacy will be gone, and governments will know who to tax, where every coin originated, and which wallet currently owns it (as well as who owns that wallet).
All taxable events will be logged, and even if you simply HODL you'll be taxed (starting at 1% Elizabeth Warren) and going up from there.
You'll be allowed to own an ETF, but you'll be monitored and taxed so that owning actual BTC will no longer be possible.
Someone please convince me I'm wrong--and more importantly, do we have a solution?
GM Nostr
Warm coffee...warm heart. 😃
#coffeechain
16 - good for him...
If he got fired, I'm sure he now thinks it's a good trade.
Huge LOL 😃