27-03-2023, 05:49 PM
(27-03-2023, 05:28 PM)Dolly Buster Wrote:this actually doesn't matter at all because as long as an asset is liquid you can just convert it to dollars (or whatever your local currency is) before you need to pay taxes.(26-03-2023, 01:35 PM)MysteriousWeeb420 Wrote: has value as an instrument of financial speculation. Just like how stocks can have value as a result of speculation about future dividends, assets can have value as a result of speculation about the future of global financial systems (think CBDCs and all other assets in the world tokenised into a huge digital ecosystem where bitcoin plays a key role)
It is by design, that government-issued currency is the only thing accepted for taxes.
They deliberately want to have such a monopoly.
So they are never going to replace it with "something else."
It completely undermines the system. The system is: "If you want to free yourself of IRS penalties, you better come beg the government for its currency."
imagine US citizens suddenly decide they dont like dollars and collectively invent a new currency called mollars. they can then use mollars for all their day to day business and just exchange it to dollars when they need to pay tax. there is nothing enforcing the use of dollars, it's just a convenience thing
it's not even like any of this theory matters anyway. the reality is that bitcoin is currently trading at around $27,000 and has been above $1000 for the past 5 or so years (so much for it should be valued at $0
)
