Treating myself by explaining to the Bitcoin Holy Warriors
that they have to pay income tax in Dollars if they sell their Bitcoin.
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The USD is only the reserve currency because (not in spite of) the ability of the US to run persistent deficits without permanently debilitating our standard of living within the country. It’s a Balance of Payments axiom that Bitcoin can’t mimic without the ability to create debt
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You're right, those are missing pieces. But there is some credit creation that happens by default when bitcoin is rising (taxes paid on avg 6 months later - that's a lot!) AND a currency w Bitcoin as a reserve w rooted identity so that debt creation is possible would change this
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New conversation -
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@pnfigueiredo would you like to join into the conversation?Thanks. Twitter will use this to make your timeline better. UndoUndo
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