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
god / proof of god
npub1kz…nedep
2024-09-09 18:54:42
in reply to nevent1q…nyg0
Author Public Key
npub1kzqrl88ye7wq28yjv0zxs607dmd3kea0w8vqqj9xacn242s79hasdnedepPublished at
2024-09-09 18:54:42Event JSON
{
"id": "48f4c11499d1d1524ab84b34c0cd6f25cbe7cb29f69dcf1d009610eb00f74bfb",
"pubkey": "b0803f9ce4cf9c051c9263c46869fe6edb1b67af71d80048a6ee26aaaa1e2dfb",
"created_at": 1725908082,
"kind": 1,
"tags": [
[
"e",
"c4fc1c39487d3ecd6ad6745d935a91af8fb176986f677fc4c9315709ab883764",
"wss://relay.nostr.bg/all",
"root"
],
[
"e",
"988116cccad912021d9ec93ca9ff814abd83ed819ac405a08001daef61614b28",
"wss://relay.nostr.bg",
"reply"
],
[
"p",
"ac3f6afe17593f61810513dac9a1e544e87b9ce91b27d37b88ec58fbaa9014aa"
]
],
"content": "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\n\n18% 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 \n\nThere 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\n\nI 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. \n\nI want to love monero. I’ll learn more about it. Also I really am god, that’s not just my username",
"sig": "63c94249ead477f1661afc95a492e5bad912aaa8f650e99856a3e0ee850d391c5031f6c54f60813dcd3889ad33e02cd64df67e2ea3d6c6033c5d2c02514dc3cc"
}