Let's not forget with monthly bank fee, fee for transferring money to different bank, monthly credit card fee, frozen funds, legal process etc that related with banks. Wow you've spend monthly fee and wasting your time to meet the bank requirement.
The thing is, nothing force you to transfer small amount of Bitcoin if you can't afford to pay the fee. After all you can still use fiat for small transaction and use Bitcoin for big transaction, as long as the government not remove fiat as legal tender.
Topic: When will the bitcoiners realize bitcoin is just fiat with enforced tax - page 4. (Read 546 times)
August 26, 2023, 11:11:44 PM
August 26, 2023, 10:49:17 PM
A tax is a mandatory fee, so If you view taxes and fees to be the same, fine. I think you're mistaken but I see the logic. What would you consider to be a built in inflation rate of 2% minimum by the central banks on every single major fiat currency? That's under good conditions, the actual rate of inflation is often higher than 2%.
By virtue of that alone, the so called "tax rate" of Bitcoin is is already lower.
By virtue of that alone, the so called "tax rate" of Bitcoin is is already lower.
August 26, 2023, 10:05:33 PM
What's the problem with fees for bitcoin transactions? Do you not pay the fees when you do the banking transactions in addition to paying the tax? In all financial services you have to pay fees and taxes. Can any service continue without the fee?
Fees are perfectly healthy because they are necessary for miners to stay in their centers and also necessary for the network to continue working and its security, this is nonsense because no one complains about fees because everyone knows they are necessary. Complaining only happens about congestion and when fees go up.
Fees are perfectly healthy because they are necessary for miners to stay in their centers and also necessary for the network to continue working and its security, this is nonsense because no one complains about fees because everyone knows they are necessary. Complaining only happens about congestion and when fees go up.
August 26, 2023, 10:02:29 PM
When will the bitcoiners realize bitcoin is just fiat with more steps on a transparent ledger with enforced tax aka network fee.
You don't understand what tax means.With your interpretation, fee you pay with bank transfer will be considered as tax too but in fact it is not. It is simply one of fees you pay to use a service that is similar with on-chain transaction fee when you use Bitcoin network and bitcoin to move your fund from one address to another one.
August 26, 2023, 08:58:49 PM
You seem to have gotten everything wrong. Take a closer look at Bitcoin and fiat once again and you will realize they're extreme opposites. You've mentioned about a transparent ledger. That itself is enough for you to consider Bitcoin as a different currency. Does fiat have one?
Comparing network fee and enforced tax is also wrong. From the word itself, a network fee is a fee for those who process your transactions in the network. You can't have it for free; it's a task that takes a lot of energy and computation.
Whether a nation legalizes it or not, a network fee is always required. Whether a tax is required on top of it or not, it's not anymore on Bitcoin. It's on the government that legalizes it.
Comparing network fee and enforced tax is also wrong. From the word itself, a network fee is a fee for those who process your transactions in the network. You can't have it for free; it's a task that takes a lot of energy and computation.
Whether a nation legalizes it or not, a network fee is always required. Whether a tax is required on top of it or not, it's not anymore on Bitcoin. It's on the government that legalizes it.
August 26, 2023, 08:05:54 PM
When will the bitcoiners realize bitcoin is just fiat with more steps on a transparent ledger with enforced tax aka network fee. When your nation legalizes it like canada you will pay network fee and tax on top, such wow.
I don't think it was a problem because what the tax mean if all countries in the world implemented Bitcoin as payment, The holder definitely rich, right? because Bitcoin price is not like today, maybe over a million, and maybe we just pay a few taxes to make it happen. So, tax is the 1st step for legalization, if a country implements for the assest, in the next time the people would believe that asset is legit.
August 26, 2023, 07:54:39 PM
When will the bitcoiners realize bitcoin is just fiat with more steps on a transparent ledger with enforced tax aka network fee. When your nation legalizes it like canada you will pay network fee and tax on top, such wow.
You don't seem to have any knowledge of bitcoin and fiat, you can't even tell the difference between them, we really have nothing to discuss here. Do you see any decentralized national currencies? Is there any currency that gives us freedom? Bitcoin really brings a lot of benefits to us, but it is difficult to understand many people still stupidly reject it and still love fiat. Through fiat, the government is controlling you, you are losing free, and you want to be someone else's puppet, you don't want to be free? If you don't like bitcoin, then ignore it, don't post to let people know your stupidity.
August 26, 2023, 07:30:59 PM
When will the bitcoiners realize bitcoin is just fiat with more steps on a transparent ledger with enforced tax aka network fee.
Network fee is a service.
You are paying to have the freedom to send money to whomever you want, wherever you want, without asking for authorization for it.
You also have more privacy.
August 26, 2023, 06:48:27 PM
When will people realize that it's not cause we don't like fiat that we chose to side with bitcoin?
We chose to side with bitcoin cause here, profits are decentralized. Anyone could make it or succeed without being beaten by nepo babies, people who have privileges, or whatever the fuck's going on that gives some people unfair advantages and opportunities against other people. Bitcoin is chosen by millions of people because at the very least, in this industry we have the chance to succeed and earn money that we otherwise wouldn't have gotten if we remained your 9-5 sleeper agents. So fuck off with the "bitcoiners are stupid hurr durr it's just fiat with taxes" hell yeah it is. But at the very least when bitcoin pumps we reap the profits. When bitcoin opens opportunities for people to flourish in their careers they do. Has that happened to fiat?
We chose to side with bitcoin cause here, profits are decentralized. Anyone could make it or succeed without being beaten by nepo babies, people who have privileges, or whatever the fuck's going on that gives some people unfair advantages and opportunities against other people. Bitcoin is chosen by millions of people because at the very least, in this industry we have the chance to succeed and earn money that we otherwise wouldn't have gotten if we remained your 9-5 sleeper agents. So fuck off with the "bitcoiners are stupid hurr durr it's just fiat with taxes" hell yeah it is. But at the very least when bitcoin pumps we reap the profits. When bitcoin opens opportunities for people to flourish in their careers they do. Has that happened to fiat?
August 26, 2023, 06:48:12 PM
That's like saying that paying with physical cash money has enforced tax because you have to go commute or use gas on a car to meet someone.
You do realize that bitcoin without fees would potentially cause it to get spammed with useless transactions right? It isn't even that complicated to figure out. But I guess you need to have new criticisms to throw. Try harder.
You do realize that bitcoin without fees would potentially cause it to get spammed with useless transactions right? It isn't even that complicated to figure out. But I guess you need to have new criticisms to throw. Try harder.
August 26, 2023, 06:38:27 PM
It seems to me that you need a lot to learn about how the Bitcoin network functions. Here... start with the white paper - https://bitcoin.org/bitcoin.pdf
The so-called enforced tax you are talking about is the mining/transaction fee. People who confirm blocks invest in a lot of resources to do so (investing in mining hardware, paying electricity bills, maintenance costs). The Mining rewards and transactions fees are an incentive to keep them running their mining hardware, otherwise the network would collapse or become less decentralized if there were not enough miners
Educate yourself before you make such opinions.
The so-called enforced tax you are talking about is the mining/transaction fee. People who confirm blocks invest in a lot of resources to do so (investing in mining hardware, paying electricity bills, maintenance costs). The Mining rewards and transactions fees are an incentive to keep them running their mining hardware, otherwise the network would collapse or become less decentralized if there were not enough miners
Educate yourself before you make such opinions.
August 26, 2023, 06:30:50 PM
Bitcoin transaction fee is not an enforced tax.
This is different from the money paid as fee in wire transfer and some other means of fiat payment.
Fiat and bitcoin are completely different. Fiat has no fixed supply, it is centralized, not censorship resistant and it is an inflationary asset which is just the opposite of bitcoin which has limited supply, it is decentralized, censorship resistant and it is a deflationary asset in long term if compared with fiat.
Taxes are mandatory contributions levied on individuals or corporations by a government entity
This is different from the money paid as fee in wire transfer and some other means of fiat payment.
Fiat and bitcoin are completely different. Fiat has no fixed supply, it is centralized, not censorship resistant and it is an inflationary asset which is just the opposite of bitcoin which has limited supply, it is decentralized, censorship resistant and it is a deflationary asset in long term if compared with fiat.
August 26, 2023, 06:22:33 PM
When will the bitcoiners realize bitcoin is just fiat with more steps on a transparent ledger with enforced tax aka network fee. When your nation legalizes it like canada you will pay network fee and tax on top, such wow.
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