10 sats \ 2 replies \ @tomlaies 25 Oct 2023 \ parent \ on: What will catch Bitcoiners by surprise? bitcoin
Besides it not even being possible to prove that someone knows the keys to an UTXO...
It's incompatible with constitutions in many western countries to tax what you own without a transaction. It would already be happening to stock holdings if it was legally possible and it isn't.
I could see high taxes on inflows into and outflows out of Bitcoin tho. More realistic imo.
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200 sats \ 0 replies \ @elvismercury 25 Oct 2023
Dude, they worked around the constitution to allow the literal ownership of other human beings when that was convenient for the bag-holders. And taxes on unrealized capital gains were a public discussion by "serious" politicians not too long ago.
You will find a lot of unthinkable things suddenly turn thinkable -- and constitutional -- when it stops being a toy problem.
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31 sats \ 0 replies \ @Wumbo 25 Oct 2023
It's incompatible with constitutions in many western countries to tax what you own without a transaction.
Where does property tax fit in? One pays yearly tax every year on property they have held for years.
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