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0 pointshkmurakami9y ago0 comments

This is what I don't really get. If you want BTC to make it as a currently, you shouldn't want it to gain value in such a sudden way. I guess the fact that they all have a position book makes that irony clear to me.

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9 comments · 4 top-level

AtheistOfFail9y ago· 5 in thread

The problem is speculation. Since it's an "open currency", the price is set by the market.

If every exchange says $1000, then you won't want to buy my Bitcoin for $1200. Supply and demand can cause issues.

For example, Bitcoin rose about 15% when Donald J Trump was elected since he said he wanted to tax remittances. Guess what? You can't tax something that's not controlled by the US government.

petre9y ago

Of course you can. You can tax it at the exchange, when it becomes something controlled by the US gov't. And you can tax companies selling products or services for BTC.

AtheistOfFail9y ago

Unfortunately, you can't tax against a commodity, it's not currency.

So, it's basically the same as trading Oil or any other basic commodity.

AtheistOfFail9y ago

You can tax Bitcoin for the US in an Mexican exchange?

1 more reply

rspeer9y ago

> Guess what? You can't tax something that's not controlled by the US government.

Uh... you might want to be a little less brazen and loud about your tax evasion.

AtheistOfFail9y ago

Tax evasion is when you make a profit after selling your Bitcoins and don't report it.

I'm a good little US Citizen that always pays his taxes.

mirimir9y ago

Yes! This! For actual, practical use, you want price stability. Bitcoin supply grows steadily at decreasing rate. So the system is somewhat deflationary, by design. But the bubbles have been caused by speculation, and outright fraud. I've read that Mt Gox (or someone who compromised it) caused the bubbles in 2013-2014.

wmf9y ago

Who wouldn't want to make money simply by having money? Of course it has to end one day.

imaginenore9y ago

Would you rather see your store of value increase in value or get devalued?

The beauty of Bitcoin is that it behaves like a successful stock, but also as a successful currency.

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