26-03-2023, 03:05 PM
(26-03-2023, 03:03 PM)MysteriousWeeb420 Wrote:(26-03-2023, 02:31 PM)Dolly Buster Wrote:https://cointelegraph.com/news/brazil-s-oldest-bank-allows-residents-to-pay-off-tax-bill-with-crypto(26-03-2023, 02:20 PM)brocode Wrote: this is not news
bitcoin only has value until we consider it valuable
like gold, or fiat currency
if everyone decides gold is just another stone tomorrow, its worthless, if everyone decides the US dollar is just another paper tomorrow its worthless (not saying it will happen, it wont ever, but hypothetically speaking)
bitcoin doesnt have any underlying real life linked asset to make it "tangible" or hold true value regardless of transaction movement, however the only reason it has hype, as with any crypto is its anonymity and lack of "central control".
Actually that is another myth, that gold and dollar are completely arbitrary.
In fact gold has value because it's a genuinely useful metal. And the dollar has value because it's a tax credit i.e. the thing needed to pay U.S. taxes.
So now that we know the true backing of gold and USD, the argument: "Everything in the world is airy-fairy, so why not use something equally absurd such as crypto" is suddenly invalidated. Crypto is the only odd one in the group and the only one with zero value
https://www.theguardian.com/us-news/2022/mar/01/colorado-tax-payments-cryptocurrency
do you not at least see the potential for speculation here?
Stupid idea on so many levels, using something with 10% value swings every day as taxes.
