Now once retarded capital gains tax laws on purchases and oppressive KYC/AML regulations on both consumers and businesses are lifted we can actually see this real organic adoption go mainstream instantly. Until then I'm afraid this fight will be tough with small, scarce victories like this sprinkled throughout.
Every zap I send is a disposition, and needs to be recorded along with the fiat exchange rate.
Every zap I receive is considered income. The acquisition of those sats also needs to be tracked to calculate my ACB.
It's onerous AF, and ruins my enjoyment of this platform. So I choose to break the law instead.
Yeah it forces criminality because the law is simply unjust by design. I believe the government have so many laws like this. This has to be for the purpose of ensuring every citizen is technically a criminal such that when the time comes to target you (due to some secret surveillance method legal or not), they can always throw the book at you.
When there is one restaurant chain that accepts bitcoin, that one gets the business from the entire bitcoin community. When the second chain begins to accept bitcoin, those bitcoiners who are physically near to both might now split their business between the two.
What's needed is for people to earn in bitcoin as such a rate that they are forced to sell or spend some bitcoin in order to eat. Then the merchants will find themselves losing market share to bitcoin-accepting merchants.
When I travelled to an area that had a local Steak 'n Shake, I went more often than was healthy just for the joy of paying with bitcoin.
The payment process is really simple and well thought out. I think that has a lot to do with its success so far.
TL;DR
Now once retarded capital gains tax laws on purchases and oppressive KYC/AML regulations on both consumers and businesses are lifted we can actually see this real organic adoption go mainstream instantly. Until then I'm afraid this fight will be tough with small, scarce victories like this sprinkled throughout.
I'm technically breaking the law every time I post or zap on StackerNews thanks to these onerous tax regulations.
Normies aren't going to adopt something that puts them at risk of an expensive audit.
What law are you breaking?
It's tax evasion in the eyes of the government.
Every zap I send is a disposition, and needs to be recorded along with the fiat exchange rate. Every zap I receive is considered income. The acquisition of those sats also needs to be tracked to calculate my ACB.
It's onerous AF, and ruins my enjoyment of this platform. So I choose to break the law instead.
Yeah it forces criminality because the law is simply unjust by design. I believe the government have so many laws like this. This has to be for the purpose of ensuring every citizen is technically a criminal such that when the time comes to target you (due to some secret surveillance method legal or not), they can always throw the book at you.
Agreed
When there is one restaurant chain that accepts bitcoin, that one gets the business from the entire bitcoin community. When the second chain begins to accept bitcoin, those bitcoiners who are physically near to both might now split their business between the two.
What's needed is for people to earn in bitcoin as such a rate that they are forced to sell or spend some bitcoin in order to eat. Then the merchants will find themselves losing market share to bitcoin-accepting merchants.
S T E A K T O S H I
Steak and shake