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This is the current situation. - You buy something with Bitcoin: In most countries you have to pay vat and in addition capital gains between the difference of buying and selling Bitcoin if you have made a profit. This is an approximate 20% + 20% (of the profit) (It depends on each country). - You sell Bitcoin: You pay between 20% and 30% of the profit (Depending on country). You have a lot of Bitcoin: In some countries you will pay wealth tax. You have a lot of unrealized gains: In many countries they are trying to apply this, soon we will have the first country to do so. If you have bought bitcoin with KYC you are screwed, the exchanges will end up passing all the data to the states and their respective tax offices. If you have non-kyc bitcoin you can only use it to buy a soda, if you use it to buy a car or a house they will accuse you of money laundering, drug trafficking or whatever they want. And you think bitcoiners have won? You can go to a country that has more lax tax regulations but tax havens are becoming increasingly difficult. You have to try to make Bitcoin legal tender, and to do this you have to use your Bitcoin, and you have to accept Bitcoin as payment, only by creating a large black market where you do not have to pay taxes you can bend the state, otherwise your Bitcoin will only enrich the state. During all these years the HODL strategy has been totally wrong, while we have carried out HODL the states have encircled us. We came here for freedom.

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I think this is peak centralization. It was Covid and then these first post years. Everything from here on now will go in the other direction. USA (biggest capital market in the world) going very very orange pilled (Trump, Eric Trump, a bunch of Bitcoiners in the inner circle), MSTR exploding, its strategy being accepted and replicated, Argentina going very red pill, plenty of other countries offering no tax on gains, China allowing Bitcoin (huge), also new jurisdictions offering tax benefits, BTCmap increasing 40% in 2024 alone, a bunch of small Bitcoin communities popping up everywhere. The next 4 years you'll see the pendulum strongly going in the other direction. What you're actually living right now is Year 0 of adoption. I don't think it can get more bullish than this.
What a world! I'm shifting more and more into a bitcoin lifestyle using Strike to pay bills as well as using other tools like Fold. Up until now, bitcoin has been a way for me to try to save for the future, but I see what you're saying. We need to use it, put it to work on a daily basis. I will still be saving as much as I can in bitcoin, but I will also try to live on a bitcoin standard in my daily life. Good write-up!
Holding and buying Bitcoin still puts pressure on the issuers of fiat. It's still a net gain for hodlers long-term, even with the 20%-50% exit tax. I agree that HODLing is only one leg of the strategy. Not the whole strategy. As soon as something like a Bitcoin circular economy emerges that includes goods production, it will become very hard to tax a system that does not involve fiat on/off ramps.
Holding and buying Bitcoin still puts pressure on the issuers of fiat. It's still a net gain for hodlers long-term, even with the 20%-50% exit tax. I agree that HODLing is only one leg of the strategy. Not the whole strategy. As soon as something like a Bitcoin circular economy emerges that includes goods production, it will become very hard to tax a system that does not involve fiat on/off ramps.
Holding and buying Bitcoin still puts pressure on the issuers of fiat. It's still a net gain for hodlers long-term, even with the 20%-50% exit tax. I agree that HODLing is only one leg of the strategy. Not the whole strategy. As soon as something like a Bitcoin circular economy emerges that includes goods production, it will become very hard to tax a system that does not involve fiat on/off ramps.
↩ replying to epsql
So what .. it happens all the time .. devs start working to solve an inferior problem and they end up hitting a jackpot .. Google guys just wanted to make a page rank algo and they went to sell it to Yahoo ... You know the history .. same thing happened to Bitcoin .. Satoshi were targeting a simpler problem but due to their incredible insights in math , cryptography and coding ..they created GOLD ... I hope you understand creating a GOLD replacement is a LOT HARDER problem than fiat replacement ! ..
↩ replying to npub10q9t...3zpw
Yes Satoshi did start with a p2p cash system in mind .. but ended up creating digital gold ..
Satosha's avatar Satosha
So what .. it happens all the time .. devs start working to solve an inferior problem and they end up hitting a jackpot .. Google guys just wanted to make a page rank algo and they went to sell it to Yahoo ... You know the history .. same thing happened to Bitcoin .. Satoshi were targeting a simpler problem but due to their incredible insights in math , cryptography and coding ..they created GOLD ... I hope you understand creating a GOLD replacement is a LOT HARDER problem than fiat replacement ! ..
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