Bitcoin, Hard Money, and TAXES
A word....
BTC is hard money with friction free transactions.
By existing, it will force Gvt to adopt hard money policies, or lose control of their fiat.
That has a HUGE consequence that crypto people hate talking about. Taxes.
Gvts will need to reshape their tax base, and crack down on leakage. The most simple way for them to do this is enhanced financial monitoring, tracking, KYC and tighter AML, including being able to track back to source wallets.
Long term, financial privacy is dead. BUT ALSO, rich person loopholes and deductions will get closed, so more equitable.
Ian "nostr.naut.social" D /
npub1c7…uekjd
2023-06-17 16:17:07
Author Public Key
npub1c7pcs9szs87f3ur6ygddu8wsgun40tl9ffas4envqtpkjvye4l5qyuekjdPublished at
2023-06-17 16:17:07Event JSON
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"pubkey": "c78388160281fc98f07a221ade1dd0472757afe54a7b0ae66c02c3693099afe8",
"created_at": 1687018627,
"kind": 1,
"tags": [],
"content": "Bitcoin, Hard Money, and TAXES\n\nA word....\n\nBTC is hard money with friction free transactions.\n\nBy existing, it will force Gvt to adopt hard money policies, or lose control of their fiat.\n\nThat has a HUGE consequence that crypto people hate talking about. Taxes.\n\nGvts will need to reshape their tax base, and crack down on leakage. The most simple way for them to do this is enhanced financial monitoring, tracking, KYC and tighter AML, including being able to track back to source wallets.\n\nLong term, financial privacy is dead. BUT ALSO, rich person loopholes and deductions will get closed, so more equitable. ",
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}