EU: Dystopia or Overreaction? Debating the Future Amidst Rising Concerns

[wellington]

Note the EU and the Fed both released papers this week basically saying the same

- Bitcoin should be banned because it stops them printing money as it's an escape route

- Bitcoin is unfair because early buyers benefit from new buyers

They see two options

- tax it
- ban it

Taxing it = you'll be legally required to provide details of your holdings

Banning it = will work because every nation currently debases in sync with the US to keep their exports attractive internationally as the currency items are priced in internationally is in $

But that tells you all you need to know

- they are desperate to control it due to debasement

- they are desperate to tax it because it keeps rising and people can loan against instead of selling

If they just tax it then it will continue to rise and crush them

If they ban it - somewhere will popup as a haven that has no exterior debt and enough of a market to absorb btc adoption internally but externally have easy enough access to $ for international trade

 

[Martin Everson]

wellington said:
They see two options

- tax it
- ban it
Click to expand...

Prohibition is very unlikely as its unworkable. Just like hard drugs if there is demand it will still remain underground in circulation whether illegal or not.

Taxing it requires them to identify ones holdings. For those who self custody their crypto or even hold in cold storage it would be burdensome to detect.

There is no easy solution to the crypto question for EU or even US. In a dystopian world they can go all out to protect their financial systems but it would be a losing war. They are best to try and compete with their own solution and hope it is more popular 😉

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[sharklasers]

wellington said:
it stops them printing money as it's an escape route
Click to expand...

If my memory doesn't fail me, main purpose of bitcoin creation was protection of one's savings from money printing expropriation. And so far it seems to work just as intended.

 

[AlicaFunk]

wellington said:
Note the EU and the Fed both released papers this week basically saying the same

- Bitcoin should be banned because it stops them printing money as it's an escape route

- Bitcoin is unfair because early buyers benefit from new buyers
Click to expand...

where did you get that information from ?

 

[PassinBy]

We're trying to be simplified version of the USA.
We should be trying to be a refined version of Switzerland.

 

[PassinBy]

Or in Zoomer
Be brat Switzerland, not a demure USA.
🙂

 

[koohl]

kislokan said:

EU: Dystopia or Overreaction?​

100% dystopia
Click to expand...

We still have to learn and wait and see.

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I keep my journey in the closed forums in Mentor Group for less saturating methods.
Please understand that I don't sell any services or do consultancy, you don't need to contact me about that!

 

[Bruce flea]

wellington said:
Note the EU and the Fed both released papers this week basically saying the same

- Bitcoin should be banned because it stops them printing money as it's an escape route

- Bitcoin is unfair because early buyers benefit from new buyers

They see two options

- tax it
- ban it

Taxing it = you'll be legally required to provide details of your holdings

Banning it = will work because every nation currently debases in sync with the US to keep their exports attractive internationally as the currency items are priced in internationally is in $

But that tells you all you need to know

- they are desperate to control it due to debasement

- they are desperate to tax it because it keeps rising and people can loan against instead of selling

If they just tax it then it will continue to rise and crush them

If they ban it - somewhere will popup as a haven that has no exterior debt and enough of a market to absorb btc adoption internally but externally have easy enough access to $ for international trade
Click to expand...

Few months can change A lot ..
Def not what being said right now .. Everyone is racing to get some.
This isn't a price action comment tho ,but def every country has changed the tone

 

[Aetherial]

JohnnyDoe said:
The media report what they are instructed to. When a journo writes something not aligned, he is quickly corrected. You can see that in online publications where “wrong” titles and contents are changed or deleted within minutes of publication.
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One of my activities is, among other things, owning a (online) media outlet. Sometimes when I publish an article, even though it is substantiated with sources, they send one of the fact checkers to teach me a lesson. It's a clear message: adapt or we'll make your life harder. I recently managed to prevent my name from being smeared in the mainstream.

When my father moved outside the EU because of a nice job opportunity, and moved back years later, the tax authorities investigated him closely and treated him as a criminal in advance. After many legal costs and a lengthy investigation, he was let go (after all, he did nothing wrong).

I grew up in a safe, wealthy society with many amenities and I see with my own eyes how things are deteriorating rapidly.

For these reasons alone I've decided to reside somewhere else, preferably a sunnier place, because I cannot justify paying almost 50% tax to a neoliberal order that goes completely against my interests. And for now I still have the freedom to do so without being taxed until oblivion afterwards.

If it's important to you to have your friends and family close by and the behavior of the leaders align with your ideology, perfect. Stay and flourish. To each his own. Fortunately, it is a big world and with enough $$ you can go and be wherever you want to be.

But I'm packing my bags 🙂

 

[jorge]

JohnnyDoe said:
I experienced it first hand. Many others I know experienced the same. It is not a joke, and while one case would be sufficient, there are many thousands of such cases. No, you won't find them in the mainstream news, as all the media have become state controlled.
Click to expand...

True, if that's the case, how are regular people supposed to speak up? Not all of us can own X, LinkedIn, Facebook or any other big social media platform to make our voices heard.