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Re: Panama City Approves Bitcoin and Crypto Payments for Taxes, Fees, and Permits 

By: Zimbler0 in GRITZ | Recommend this post (1)
Sat, 19 Apr 25 2:33 AM | 11 view(s)
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Msg. 06978 of 07071
(This msg. is a reply to 06940 by Fiz)

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Fiz > "bitcoins" need to be taxed at capital gains rates to US citizens.

Fiz > That is why the underlying floor, privacy, inability to "print"/treat as fiat, and LEGAL TENDER (non-taxibility) aspecs of the U$B are essential.


Fiz,
You have contradicted yourself in one posting. Either bitcoin can be taxed at capital gains rates . . . Or it is non-taxable as 'legal tender' . . . Can't be both.

The American dollar is 'fiat'. I think most (if not all) currencies on this planet are also fiat. But they all also have value - one can exchange the currency for things of value.

What 'intrinsic value' does BitCoin have that might make it 'non-fiat' ?

Zim.




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The above is a reply to the following message:
Re: Panama City Approves Bitcoin and Crypto Payments for Taxes, Fees, and Permits
By: Fiz
in GRITZ
Fri, 18 Apr 25 9:01 PM
Msg. 06940 of 07071

I think all existing, and yet-to-come, "bitcoins" need to be taxed at capital gains rates to US citizens.

The U#B needs to be unique in this way. That is why the underlying floor, privacy, inability to "print"/treat as fiat, and LEGAL TENDER (non-taxibility) aspecs of the U$B are essential. You want this thing to work and be a huge net benefit to the middle class American citizen.

Privacy could doubtless be further improved by incorporating some of the stronger privacy protections I understand exist in more modern alternatives (https://www.investopedia.com/tech/five-most-private-cryptocurrencies/) like Monero and Zcash.

Then essential thing is the chain code be open source and not under control of the US government, except for protection of the integrity. And, of course, no government -- certainly not the US government -- is "your friend".

Governments are psychopathic by nature, and that cannot be changed. If the last 100 years of freedom connivance has taught us anything, it should have taught us that: THE government is a drunk gorilla, "a terrible master", and those who want to "make a career" of working for the US government (or any government) need to be identified early and kept, along with the drunk gorilla, on a choke-chain of razor wire.


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