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720 sats \ 4 replies \ @anon 7 Aug \ on: Growing Stacker News From The Bottom Uprising meta
You guys don't get it. That Bitcoin exists at all, much less P2P paid + tipped Bitcoin forums... is downright remarkable.
The "state" is overwhelmingly hostile to Bitcoin becoming transactional money. It seriously exists in some kind of gray area.
Every transaction, every 5 cent 'tip' over Lightning is a taxable event, and you guys think that is some kind of accident? The state tolerates Bitcoin as a "speculative commodity" as long as Blackrock/Fidelity custodies it for you...
Custodying Bitcoin yourself and spending it on groceries, gas, tacos, day to day expenses, paying for your coffees in the morning... the State is OVERWHELMINGLY hostile to.
I think the unsaid dare unspoken "fear" in Washington (much less Brussels) is that Bitcoin starts to undermine national currencies when people use it instead of the state-controlled fiat.
If people largely saved in Bitcoin, and spent it day-to-day who the fuck would buy government bonds? What would happen to interest rates, much less the government ability to print money or control monetary policy and all the tremendous influence that bestows?
Square/Block has as much as said this, that they are running up against legal/regulatory walls when it comes to actually bringing Bitcoin payments mainstream. Governments are totally opposed to it.
Stackers live in such a bubble YES Bitcoin is superior to fiat however there is tremendous opposition to its success outside of being a 'speculative security' and governments outright reserve (they think) the right to control and mandate monetary-policy.
We have private sector companies and industries, private sector research and investment... government does NOT want private sector money to compete with!
God bless the Stackers and Stacker News in general. That it exists AT ALL is remarkable don't downplay the tremendous accomplishment that there IS a Stacker News when it wasn't even contemplated 15 years ago... and Bitcoin still faces tremendous opposition to being used as money by government.
The road is long and arduous but it will win eventually.
This comment could be a post. Overall you make an excellent point, but you don't need any permission to use your sats wherever you want.
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Yes but almost everywhere whenever you spend sats you create a taxable event and if it is not reported and paid you expose yourself to the risk of potential prosecution.
That risk may not put of some of us, but it is there as a deliberate, very sly, state crafted obstruction to prevent widespread adoption of MoE use.
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Whose taxation is it based on?
You've got to be joking, spouting statist nonsense. Use Bitcoin as money; taxes are for slaves to pay in fiat currency.
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You might be quite relaxed about ignoring tax implication of using sats for MoE but most people will not be.
How many businesses will be? Fuck all is demonstrably the answer.
And you would not probably find it at all comfortable to be suddenly deprived of the rule of law, security and provision of infrastructure which the state enables.
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