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Will the State suddenly forget about Capital Gains for millions of tiny purchases by millions of people? Especially since it's mostly custodial anyway?
Will the same state be able to enforce that for millions of tiny purchases by millions of people?
I hope common sense prevails over trying to prosecute a large chunk of their population, making them change that categorization eventually.
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"And it's okay if most of the people don't want to have anything to do with it."
I'm not sure how to process this honestly...
Bitcoin isn't especially good at privacy (in the best of cases) and it isn't especially fast (although Lightning certainly helps).
Bitcoin is good at... 'not changing' and 'being transparent' in the need for decentralization and transparency and sound money. But if 'mass adoption' means lots of custodians and fin-tech apps run by public companies... where is the censorship resistance? What is the point?
Will the State suddenly forget about Capital Gains for millions of tiny purchases by millions of people? Especially since it's mostly custodial anyway?
If they do... then Bitcoin becomes a de-facto 'currency' and I don't see government accepting that. If they don't... expect clampdown on things like Square?