Of course it will kill the income tax especially in the US where taxes are crazy and illegal. It could make the end of the US government and the beginning of high unemployment which will be bad for everybody. There will be a lot of chaos I think.
The taxes are even higher in Europe than in the U.S. so bitcoin could benefit more to those that live in places where there are even higher taxes than the norm, the problem is the EU has already noticed this and are trying to crack down bitcoin users and their stored coins.
I think at this point the only way of getting to know who owns what in Bitcoin, is when they start forcing exchanges to release user information. Only then governments can actually find people with large amounts of coins that try to hide it from their local tax agency. It's the big fishes that they are after. I just hope exchanges will refuse these requests but I don't think they have much chances of winning against the governments.
We need more faster decentraliz exchang to prevent this. Very soon.
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BoardBitcoin Discussion
Re: Bitcoin Attraction
by
karawantbtc
on 18/01/2017, 18:30:33 UTC
I want to see bitcoin punish the banks and government for controling us for so long. It will take their power away an maybe disapear.
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BoardBitcoin Discussion
Re: What exactly can you buy with Bitcoin?
by
karawantbtc
on 18/01/2017, 18:28:47 UTC
Not enogh things you can buy and thats why it is not used mor. But it will soon.
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BoardBitcoin Discussion
Re: Is Bitcoin the best cryptocurrency what so ever?
by
karawantbtc
on 18/01/2017, 18:27:02 UTC
Bitcoin is the first mover which gives it great advantage. There are many technicly bettr.
lol i swear everyone's always so eager to get there coins on exchange.
miners can wait to dump actually?
miners will dump in the beginning like always. even zcash. this wont be any different
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BoardBitcoin Discussion
Re: Is bitcoin is the new era of currency?
by
karawantbtc
on 06/12/2016, 21:10:26 UTC
I agree if they a lot more merchants then it could be huge. But that is a big if! And it will take a very very long time probably. But I hopes it do happen.
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Re: Average Age of Bitcoin users
by
karawantbtc
on 06/12/2016, 21:03:11 UTC
Young people like it but I don't think they realize the power. Unless you have seen other technology come and go and you have something to compare it too, you really get it.
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BoardBitcoin Discussion
Re: Bitcoin governance sucks!
by
karawantbtc
on 06/12/2016, 20:55:58 UTC
I agree and disagree. the major decisions need to be centralized because these guys are all have a pissing contest. The rest that is decentalize is working fine. Stop the pissing contests.
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Re: Please teach me how to grow my bitcoin
by
karawantbtc
on 06/12/2016, 20:48:23 UTC
I will be honest I lost money gambling and trading. Buy and hold longterm is the only way. Else you are just throwing your money away.