tax man cometh
Armstrong wrote of the rumblings of gov’ts plan to asset tax us, add up your assets and cash and take a %. Thing is, you have to sell something to come up with the dough. Argentina first one out of the gate. On a side note, how do I sell my home in bitcoin when it fluctuates so much, I would rather use a currency that is constant. Sure there is currency to currency differentials but is is relative to location but to assume world wide use of bitcoin for is going to work I cannot fathom. Buy a new F350 today and the next day bitcoin drops 30 % will not fly. Will it max out in coin count and then stay at a constant price and how does it expand with population growth and avoid the huge fluctuations??? Will 10 bitcoins buy the same truck in Canada as in Peru ?
https://www.rt.com/news/508789-argentina-millionaires-tax-covid/
Argentina has been a basket case for decades, because of Marxism. The wealth tax will drive out the last of the those who have hung on. Then turn out the lights. This is the road the West has chosen … and we know how it ends.
Argentinians who own Bitcoin will be just fine. Price fluctuations irrelevant to them.