Posts

Naw you don't say BTC regulation is basically about TAX

avatar of @bearbear613
25
@bearbear613
·
·
0 views
·
2 min read

As long as the ten year yield stay's low and a mass exodus doesn't happen when rates spike up we are in for a long 'taxing' few years. Stonks will inevitably go up as the machine is consuming itself. 6 months straight of no losses. Seems like a normal market to me.

Stuck into low interest rates and monetary stimulus insanity requires stretching out the class divide. It's just math. Inflation kills the debt and creates a two tiered society. Bitcoin will be regulated but taxed higher and higher as the USD loses it's purchasing power. Just like with odds and ends. Shrinkflation, inflated goods etc..this is the death knell of a currency.

https://www.coindesk.com/how-controversial-crypto-tax-found-its-way-into-us-infrastructure-bill

"Much of the controversy hinges on a technical detail: the definition of the term “broker.” The provision, which would define a “broker” as any person who provides a service “effectuating transfers of digital assets on behalf of another person,” has been questioned by industry participants due to the possibility that it will include non-custodial companies, such as decentralized exchanges and miners, that would be unable to file broker-specific tax reporting forms."

As Bitcoin struggles to defend the 42k area, I'm still remaining bullish. Like I have said there seems to be forces at work including the 'suppression' of the 10-year yield. CBCD's are coming and it makes us all wonder if releasing the kraken BTC was always the pilot project. Fortunately defi, NFTS, innovation have come out of these blockchains. Perhaps they will have avenues to preserve privacy and wealth. We know this is what has come under attack in so many different forms. SO I expect a fight on our hands in the crypto-sphere.

Posted Using LeoFinance Beta