I want to like Bitcoin but the ledger being public, every transaction recorded, and the capital gains reporting requirements any time I convert to cash to sell or even transact seems scammy.
Also I hear about lots of paper Bitcoin millionaires but I don't know anyone who cashed out and bought land or a mansion via Bitcoin wealth.
And if no one is really cashing out and there isnt much regular day important commerce utilizing the bitcoins then it seems more the pyramid scheme
So far my criticism of Bitcoin has been mostly wrong so take that with a grain of salt
Also I hear about lots of paper Bitcoin millionaires but I don't know anyone who cashed out and bought land or a mansion via Bitcoin wealth.
And if no one is really cashing out and there isnt much regular day important commerce utilizing the bitcoins then it seems more the pyramid scheme
The reason they're not cashing out is because BTC value will only rise in the future due to scarcity and more widespread adoption. The old coiners sell a bit to cover their costs and live comfortably but that wont make the news.
It is, but it's anonymous (wallet address only present) and accessible by everyone (open source). This is only made possible by the blockchain at this scale.
Yes, good point. There's no perfect airtight solution in cryptography and there never will be. I was a BTC hater for a long time and wanted it to burst badly. It didn't though and I got wiser and started stacking - it's never too late. I used to stack gold and still hold it but at this point I'm convinced BTC is the best asset there is and I'm willing to go all in on it. I believe owning BTC will be crucial in the decades to come.
I like your handle. 2+2=5.
Thanks. You should read C.S. Lewis's That Hideous Strength if you haven't. It came a couple of years before 1984 and is every bit as relevant today. Just like Orwell, Lewis personally knew the circle of people he was writing about and used fiction to expose their agenda.
I want to like Bitcoin but the ledger being public, every transaction recorded, and the capital gains reporting requirements any time I convert to cash to sell or even transact seems scammy.
Also I hear about lots of paper Bitcoin millionaires but I don't know anyone who cashed out and bought land or a mansion via Bitcoin wealth.
And if no one is really cashing out and there isnt much regular day important commerce utilizing the bitcoins then it seems more the pyramid scheme
So far my criticism of Bitcoin has been mostly wrong so take that with a grain of salt
The reason they're not cashing out is because BTC value will only rise in the future due to scarcity and more widespread adoption. The old coiners sell a bit to cover their costs and live comfortably but that wont make the news.
It is, but it's anonymous (wallet address only present) and accessible by everyone (open source). This is only made possible by the blockchain at this scale.
Yes, good point. There's no perfect airtight solution in cryptography and there never will be. I was a BTC hater for a long time and wanted it to burst badly. It didn't though and I got wiser and started stacking - it's never too late. I used to stack gold and still hold it but at this point I'm convinced BTC is the best asset there is and I'm willing to go all in on it. I believe owning BTC will be crucial in the decades to come.
Thanks. You should read C.S. Lewis's That Hideous Strength if you haven't. It came a couple of years before 1984 and is every bit as relevant today. Just like Orwell, Lewis personally knew the circle of people he was writing about and used fiction to expose their agenda.