1 sat \ 3 replies \ @nikotsla 7 Feb \ on: If spending btc is a "taxable event", what's the future of these websites/apps? bitcoin
Ok, I will avoid "Taxation is theft", it's hard but it's true.
There is NO way that any "central" authority could handle 1M transaction per month per user... the microtransactions are impossible to report or track, just a maniac (the state) and the people with power to use force could possible write that kind of law/rule.
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0 sats \ 2 replies \ @Krv 7 Feb
Yes, Canada made KYC requirements minimal for amounts under $1000. Is that they don't want to know about those? No, of course they do. It' s that they don't have the resources to keep track all transactions that occur. Hence, I suspect most countries will more or less ignore small value transactions. Or, very selectively go after individuals. But, probably make rules such that they don't have to deal with them.
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0 sats \ 1 reply \ @nikotsla 7 Feb
Indeed... you need to be a "target" so... maybe one day some politic think you look bad to him and, because they have "the law", you could be imprison <3.
We need to remove money from state, at least.
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14 sats \ 0 replies \ @Krv 7 Feb
That's why privacy is so important. I wish people got the importance of this more. Many will have to learn the hard way.
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