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70 sats \ 8 replies \ @freetx 23h \ on: Saylor Advises SEC: Bitcoin Not "Digital Currency" bitcoin
The real question between Currency vs Commodity comes down to tax treatment.
I haven't kept up with all his beliefs.....Does he think that there should be either a "de minimus" exemption or a "time exemption" for capital gains tax?
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I saw that chart. It doesn't quite jive with the dictionary meanings:
currency:
/kûr′ən-sē, kŭr′-/
noun
Money in any form when in actual use as a medium of exchange, especially circulating paper money.
Transmission from person to person as a medium of exchange; circulation.
"coins now in currency."
Money :
money
/mŭn′ē/
noun
A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or other readily liquefiable account.
The official currency, coins, and negotiable paper notes issued by a government.
Assets and property considered in terms of monetary value; wealth
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currency is money by decree (gov) and controlled by a gov/central bank. As it says "is a promissory note".
money can be whatever the 2 parties in a trade want to be (just digits on a blockchain or pink shells).
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That's how I looked at it until I looked up the plain dictionary meaning right now. Either way, that means that Saylor's stance saying bitcoin is not currency is true. So his statement doesn't mean much. It's obvious now that all Saylor cares about is his gigantic bags anyway.
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because he consider bitcoin an asset... and that is another story. It's the trick he want people to believe.
Saylor is not dumb, he's really smart, and that's why he's really dangerous for Bitcoin.
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Forex traders have a de minimus exemption... I forget the amount, I'm going to guess $600
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