Bitcoin

[Anonymous]

Anonymous wrote:

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Like it or not it's a major selling point. There are trillions of dollars in wealth in countries with far less economic freedom than the US, and the holders of those trillions want investments their country can't get its hands on. Just look at the real estate market in Vancouver or New York. A significant percentage of buyers in those cities are wealthy Chinese nationals who aren't even interested in living in the property they buy, they just want somewhere to park their money that the CCP can't confiscate. Bitcoin is no different - China can't confiscate your money if it's sitting on a hard drive in a safe deposit box in a NYC bank.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Like it or not it's a major selling point. There are trillions of dollars in wealth in countries with far less economic freedom than the US, and the holders of those trillions want investments their country can't get its hands on. Just look at the real estate market in Vancouver or New York. A significant percentage of buyers in those cities are wealthy Chinese nationals who aren't even interested in living in the property they buy, they just want somewhere to park their money that the CCP can't confiscate. Bitcoin is no different - China can't confiscate your money if it's sitting on a hard drive in a safe deposit box in a NYC bank.

+1. Obviously nothing is perfect, and bitcoin will always be vulnerable to the $5 wrench attack. And if you’ve got $6 million in BTC you’re a target and will have a hard time. But the ability to put some capital beyond the reach of confiscation-minded authorities has real value, and is a net positive in terms of human freedom.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Like it or not it's a major selling point. There are trillions of dollars in wealth in countries with far less economic freedom than the US, and the holders of those trillions want investments their country can't get its hands on. Just look at the real estate market in Vancouver or New York. A significant percentage of buyers in those cities are wealthy Chinese nationals who aren't even interested in living in the property they buy, they just want somewhere to park their money that the CCP can't confiscate. Bitcoin is no different - China can't confiscate your money if it's sitting on a hard drive in a safe deposit box in a NYC bank.

+1. Obviously nothing is perfect, and bitcoin will always be vulnerable to the $5 wrench attack. And if you’ve got $6 million in BTC you’re a target and will have a hard time. But the ability to put some capital beyond the reach of confiscation-minded authorities has real value, and is a net positive in terms of human freedom.

"buy our cyber money so you can commit tax fraud" = innovation

[Anonymous]

Anonymous wrote:Think about it this way, you could buy $100K of Bitcoin hold it long term and then retire to someplace abroad with no capital gains taxes and withdraw it all.

This is extremely bad advice and totally illegal.

[Anonymous]

Anonymous wrote:Amazon is apparently going to be accepting it as payment that’s why the price jumped so much the past 12hrs

If you read the actual job posting, it's for an AWS position. They want to dream up AWS products and services to make money from people who want to implement digital currency and blockchain "in the cloud". This says nothing about accepting bitcoin as payment. That's just absurd.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Like it or not it's a major selling point. There are trillions of dollars in wealth in countries with far less economic freedom than the US, and the holders of those trillions want investments their country can't get its hands on. Just look at the real estate market in Vancouver or New York. A significant percentage of buyers in those cities are wealthy Chinese nationals who aren't even interested in living in the property they buy, they just want somewhere to park their money that the CCP can't confiscate. Bitcoin is no different - China can't confiscate your money if it's sitting on a hard drive in a safe deposit box in a NYC bank.

+1. Obviously nothing is perfect, and bitcoin will always be vulnerable to the $5 wrench attack. And if you’ve got $6 million in BTC you’re a target and will have a hard time. But the ability to put some capital beyond the reach of confiscation-minded authorities has real value, and is a net positive in terms of human freedom.

I bought BITCOIN just for recognition of
human freedom in the future.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Like it or not it's a major selling point. There are trillions of dollars in wealth in countries with far less economic freedom than the US, and the holders of those trillions want investments their country can't get its hands on. Just look at the real estate market in Vancouver or New York. A significant percentage of buyers in those cities are wealthy Chinese nationals who aren't even interested in living in the property they buy, they just want somewhere to park their money that the CCP can't confiscate. Bitcoin is no different - China can't confiscate your money if it's sitting on a hard drive in a safe deposit box in a NYC bank.

+1. Obviously nothing is perfect, and bitcoin will always be vulnerable to the $5 wrench attack. And if you’ve got $6 million in BTC you’re a target and will have a hard time. But the ability to put some capital beyond the reach of confiscation-minded authorities has real value, and is a net positive in terms of human freedom.

I bought BITCOIN just for recognition of
human freedom in the future.

Wtf does that even mean?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Think about it this way, you could buy $100K of Bitcoin hold it long term and then retire to someplace abroad with no capital gains taxes and withdraw it all.

This is extremely bad advice and totally illegal.

This is not illegal, as long as you give up US citizenship before withdrawing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Think about it this way, you could buy $100K of Bitcoin hold it long term and then retire to someplace abroad with no capital gains taxes and withdraw it all.

This is extremely bad advice and totally illegal.

This is not illegal, as long as you give up US citizenship before withdrawing.

Oh that makes total sense, I didn't realize the US never taxes non-citizens

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ah yes "Our cyber money is valuable because you can flee the country with it." Very compelling.

Like it or not it's a major selling point. There are trillions of dollars in wealth in countries with far less economic freedom than the US, and the holders of those trillions want investments their country can't get its hands on. Just look at the real estate market in Vancouver or New York. A significant percentage of buyers in those cities are wealthy Chinese nationals who aren't even interested in living in the property they buy, they just want somewhere to park their money that the CCP can't confiscate. Bitcoin is no different - China can't confiscate your money if it's sitting on a hard drive in a safe deposit box in a NYC bank.

+1. Obviously nothing is perfect, and bitcoin will always be vulnerable to the $5 wrench attack. And if you’ve got $6 million in BTC you’re a target and will have a hard time. But the ability to put some capital beyond the reach of confiscation-minded authorities has real value, and is a net positive in terms of human freedom.

I bought BITCOIN just for recognition of
human freedom in the future.

Wtf does that even mean?

It's marketing. The crypto people want you to believe that cryptocurrency somehow sticks it to The System, when in reality the overwhelming majority of cryptocurrency is held by a tiny number of very rich people. A different System? Sure. But the same power and wealth inequality? Definitely. A recognition of human freedom? Absolutely not.

[Cryptwhale]

Anonymous wrote:Can someone explain bitcoin like I am a 5th grader? It seems like it is conjured currency, like a US dollar or the Japanese Yen, but there is no government backing up its value, so the value is whatever wall street says it is?

Actually a fair way to look at it. Bitcoin isn’t backed by a government, but that’s kind of the point, it’s backed by technology and math instead of politics or central banks. It’s a decentralized digital currency, meaning no one can print more or manipulate it.
There will only ever be 21 million Bitcoins, and anyone can verify that on the blockchain. The scarcity and transparency are what give it value like digital gold, but easier to store, move, and use globally.