It's just YouTube, but today I ran across a video that mentioned a bitcoin HODL tax.
In order to stop bitcoin, authorities would have to shut down the internet which is impossible. So I predict that their next move is to launch enormous taxes to discourage people from owning bitcoin, and prevent mass adoption as competition for their corrupted CBDC's that still have to be launched. The purpose of their regulations is to take over the entire bitcoin market, of course. They will make you sell, either by launching huge taxes for ownership or by treating the owner of 1 BTC like a drug dealer (prison sentence).
So we need a gameplan against this.
Can we be exposed to taxation or legal penalties when the wallet is reported as stolen? I think not, but I want to be sure.
I don't think you can pay taxes on something you do not officially own. And neither can you pay taxes when you don't have money or own other assets.
I have purchased my first BTC on a regulated exchange with KYC. I don't prefer it because of privacy reasons, but I had no other choice at the time. From there it will go to my coldstorage device, which I consider reporting as stolen if a ownership tax is launched. However, authorities would know the BTC address (exchange will provide it) and every future transaction that came from it. So I could never move the funds after reporting it as stolen (I guess) as this demonstrates they were not stolen.
Can I transfer the BTC from my current address, to an address that no government can ever link to me?
whats the sense of the tax in a decentralized system? If my understanding on the system of taxing isn't wrong, using the regular bank as an instance, government only impose tax in institutions like banks and not the user of the banks. What we pay for using the bank is basically bank charges while the banks are held to pay tax.
since bitcoin is a decentralized system that, who will be responsible for the payment of the tax?
Is it Satoshi? Or thymos?
I don't see this happening to b honest and if we are looking at tu possible strategies that the government can impose on bitcoin use to make it fall under government regulation then we should be talking about creating something like a bitcoin bank or stuff like that which has a physical presence