Oddbean new post about login | logout When Bitcoin's tax goes to 100%, will Monero still be a shitcoin? https://simplifiedprivacy.com/bitcoin-transparent-monero-taxes/cash-use-case.html nostr:nevent1qqsx7dz5h00fyle7qzteaz6rfgd2xhnmtp5h9qm84c7v943c92kpf5cppemhxue69uhkummn9ekx7mp0qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj78wzfwx
What you said is nonsense, monero is subject to the same tax rules as bitcoin. Whether it is not allowed on exchanges is another matter. nostr:note1nsk54jclkjsx3sv4kmwhjmjept0v73rzascn02wt2zs2k6lqlctskltd57
Taxes are a problem on the fiat side, not the Bitcoin side. Monero doesn't fix this because in a scenario where you have capital gains, there would still be a record of you spending dollars and then receiving dollars back later. HFSP!
Bitcoin is flawed on both the layer 1 and 2. On the layer 1, it's not money. Because when someone pays you, there's a good chance that it's mixed, and you can't bring it on an exchange. Now you're saying F the exchange, but even businesses you buy from dump on exchanges. So it creates mad tension when you pay people, and then later their funds are seized. On the layer 2, you need $500 bucks or it's a custodial bank account. It's not logical to say it's decentralized, when there's a high barrier to entry for new people. Under high taxes, it becomes a bigger deal that these custodians can see you're not paying. Also, if the Bitcoin Core team is selling layer 2 solutions through Blockstream, that's a conflict of interest. They profit from the failure.
Yes
Holding Monero or Bitcoin in the context of capital gains does not make a difference. Except for higher gains due to holding bitcoin of course.. Non-KYC purchases and a circular economy are the means to avoid those taxes.
Bitcoin is flawed on both the layer 1 and 2. On the layer 1, it's not money. Because when someone pays you, there's a good chance that it's mixed, and you can't bring it on an exchange. Now you're saying F the exchange, but even businesses you buy from dump on exchanges. So it creates mad tension when you pay people, and then later their funds are seized. On the layer 2, you need $500 bucks or it's a custodial bank account. It's not logical to say it's decentralized, when there's a high barrier to entry for new people. Under high taxes, it becomes a bigger deal that these custodians can see you're not paying. Also, if the Bitcoin Core team is selling layer 2 solutions through Blockstream, that's a conflict of interest. They profit from the failure.
More tax evasion today?
lol ok ok, fair enough