Oddbean

I don’t like taxes but I’ll pay them, the goal is to store value, not avoid taxes. There is definitely risk from state suppression of self custody, which only works with KYC. More plebs should acquire nonKYC BTC to hedge against this and eventually spend p2p. KYC from exchanges sucks, it’s too bad that’s currently the model that everyone complies with.

If the goal is just to store value, there already is a gold ETF. And if there's no privacy, if fiat's value collapses, one has to pay the absurd tax on the hyperinflation. How's that preserve value if you're bleeding out capital gains from them printing? Ironic a guy named “god” is saying he wants to obey because he’s powerless Wouldn't you agree that having more privacy would increase the comfort of people to use cryptocurrency for real world cash over speculation when it's bought in their name?

I don’t like taxes, I don’t wish to comply, but it’s impossible to subvert the state by refusing to pay cap gains taxes on KYC bitcoin. Non KYC when used p2p would be different - like cash, absurd to try to enforce taxes on it. So I think getting some nonKYC is a better first step - privacy from the get go, use like cash p2p, reporting “cap gains” is up to you 18% cap gains on my KYC BTC making 1000+% gains in a hyperinflation scenario is still a huge net profit, should I take it (probably won’t). Cap gains are the cost of using kyc btc There is *some* privacy on the base layer of bitcoin as you know. Base layer privacy can’t be complete - tradeoff for ability to audit entire blockchain. Current layer 2/3s are working on better privacy I take it you are a monero maxi, which is cool, we bitcoiners have a lot in common with you. I do plan to learn more about monero, I just don’t see how the game theory plays out - I expect returns on BTC to vastly outpace XMR, and I don’t see the state embracing a “privacy currency”. I do use BTC primarily as store of value, even if the parasitic US gov is leeching value from cap gains, while it matures to a point where ppl wanna use it as med of exchange. I’m fine with waiting for better L2 privacy solutions to arrive for bitcoin while I hodl. I want to love monero. I’ll learn more about it. Also I really am god, that’s not just my username

To quote Seth, I am not a monero maxi, I am a freedom maxi. Bitcoin has a key role by being on exchanges, as XMR will be delisted someday This being said, I encourage you to learn about all your options and technology. As again, my goal is getting people off banks. The whole inflation/saving thing is only one of many benefits.

Basically you can keep bitcoin for the "money goes up" thing, but in real world it is only monero that is used nowadays for purchases. Anything else is just not safe for either the buyer or the seller.