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lcbomber t1_j6ez6t8 wrote

Reply to comment by vrythngvrywhr in TIFU by buying too much crypto by Colinian18

Your pessimism and closed-mindedness are laughable. Stay happy out there fam 🙏🏻

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SignedTheMonolith t1_j6f322x wrote

Crypto won’t work because government needs tangible wealth to tax, not some block chain priority.

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lcbomber t1_j6f3mej wrote

Not sure I follow, because Colorado already started accepting Bitcoin for tax payments, so that’s gotta be possible. Plus the blockchain ledger can tell them exactly what’s happened in someone’s account, more transparent than cash. Gov could collect and hodl the bitcoin or sell it off when it’s sent to them.

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stormdelta t1_j6jh6ya wrote

As someone who lives in Colorado, no they didn't.

They made a partnership with PayPal where you give PayPal a % fee to exchange your cryptocurrency for actual USD, which PayPal then gives to the government. At no point is the government actually accepting Bitcoin as part of that process.

> Plus the blockchain ledger can tell them exactly what’s happened in someone’s account, more transparent than cash.

Complete lack of privacy isn't a positive for most people.

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lcbomber t1_j6jyawy wrote

Good info, thank you for that, kind local!

And on your point of privacy, I do agree, and so do others, which is why more privacy focused blockchains like Monero exist. Just some food for thought, not trying to shill XMR, I’ve honestly never had any or tried to get any yet. But it’s out there.

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magnificentmemer t1_j6gkv14 wrote

I hope one of these morons down voting you remembers your comment, one day.

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lcbomber t1_j6gpvrr wrote

I feel bad for most people with such a closed mind, but a lot of people make it hard to feel bad for them at the same time :/

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