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Old 09-06-2021, 08:55 AM
 
Location: South Jordan, Utah
8,182 posts, read 9,221,497 times
Reputation: 3632

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Billions of USD are used in tax avoidance. I guess it is time to shut down cash.
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Old 09-06-2021, 09:51 AM
 
5,907 posts, read 4,437,936 times
Reputation: 13447
Quote:
Originally Posted by hilgi View Post
Billions of USD are used in tax avoidance. I guess it is time to shut down cash.
So that’s your argument?
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Old 09-06-2021, 04:20 PM
 
4,952 posts, read 3,066,789 times
Reputation: 6753
Interesting article:
https://hbr.org/2021/05/how-much-ene...tually-consume
BTC is anything but worthless.
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Old 09-06-2021, 05:23 PM
 
18,823 posts, read 8,486,845 times
Reputation: 4132
Quote:
Originally Posted by Sunbiz1 View Post
Interesting article:
https://hbr.org/2021/05/how-much-ene...tually-consume
BTC is anything but worthless.
The energy use does not concern me personally. But you have to realize that a huge number of people all over the world have what they feel are great reasons to limit energy consumption in general. So this automatically creates great conflict with huge numbers of people not wanting this energy related Bitcoin to succeed. They would have no qualms or second thoughts if somehow Bitcoins were made sans any significant energy. So that right there will continue to be a persistent force that will tend to lessen the demand and lower the value of Bitcoins.
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Old 09-07-2021, 07:35 PM
 
Location: South Jordan, Utah
8,182 posts, read 9,221,497 times
Reputation: 3632
Quote:
Originally Posted by Thatsright19 View Post
So that’s your argument?
Yes, considering some above were saying Bitcoin is bad because people use it to avoid taxes.
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Old 09-09-2021, 05:23 AM
 
1,969 posts, read 676,882 times
Reputation: 1191
Quote:
Originally Posted by hilgi View Post
Yes, considering some above were saying Bitcoin is bad because people use it to avoid taxes.
It’s a lot harder to evade taxes with Bitcoin. That’s the whole point. An open ledger.
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Old 09-09-2021, 10:51 AM
 
Location: South Jordan, Utah
8,182 posts, read 9,221,497 times
Reputation: 3632
Quote:
Originally Posted by logiatype View Post
It’s a lot harder to evade taxes with Bitcoin. That’s the whole point. An open ledger.
Exactly. But a good parroted talking point is hard not to repeat for some.
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Old 09-16-2021, 07:24 AM
 
1,702 posts, read 785,411 times
Reputation: 4074
Bitcoin is nothing but a fad that will eventually go the way of "Beanie Babies"
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Old 09-16-2021, 08:11 AM
 
Location: South Jordan, Utah
8,182 posts, read 9,221,497 times
Reputation: 3632
Quote:
Originally Posted by SerlingHitchcockJPeele View Post
Bitcoin is nothing but a fad that will eventually go the way of "Beanie Babies"
Please add your insightful and original prediction to this page!

https://99bitcoins.com/bitcoin-obitu...XDYB_a4ivbS4gs

Also, when a Beanie Baby can be transferred to anyone, anywhere in the world instantly, for pennies. Let me know.

Last edited by hilgi; 09-16-2021 at 08:38 AM..
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Old 09-22-2021, 02:00 PM
 
Location: Brooklyn, New York
5,464 posts, read 5,717,596 times
Reputation: 6098
Quote:
Originally Posted by Avondalist View Post
Bitcoin was designed after the financial crisis as a way to make a currency that could not be debased. It does have value, however only when the fiat it competes with is being debased. BTC has been a lifesaver for people in places like Venezuela where the monetary system is broken. It functions like dollars except there are more avenues for the import and export of BTC compared to $. However for someone who can use a stable fiat currency as legal tender I'd say BTC is worthless.
BTC is also used if you do international money transactions, remittances, or travel overseas. The current limit is $10K, otherwise you have to declare. And doing international transactions, Western Union/MoneyGram charges an arm and a leg in fees compared to BTC, and they take days to settle.
Another use is if you're fleeing the country. If you're a Chinese multimillionaire, you can't just convert your assets into gold or cash and walk out of the country. It is simply not physically feasible if you're talking about non-mickey mouse quantities of money. However, you can convert your assets into BTC and just cross the border with your assets stored in your own head in a digital wallet.
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