'Bitcoin will go to zero': Davos talks up the future of blockchain

Re:'Bitcoin will go to zero': Davos talks up the future of b... by randomsearch on Wednesday January 23, 2019 @05:23PM (#18983770)

What is a dollar based on?

The need for the citizens of the most powerful nation on earth to pay their taxes in it; a legal and regulatory framework to support it; and the military and diplomatic might of the US to support it.

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Re:'Bitcoin will go to zero': Davos talks up the future of b... by celticninja on Wednesday January 23, 2019 @06:05PM (#18984124)

So it's based on a concept, a loosely defined one at that. Cryptocurrency is based on a strictly defined mathematical concept. It isn't a huge leap between the two.

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Re:'Bitcoin will go to zero': Davos talks up the future of b... by majewsky on Thursday January 24, 2019 @07:12AM (#18987971)

All that math is not going to help you when your government puts you in jail for not paying your taxes.

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Re:'Bitcoin will go to zero': Davos talks up the future of b... by timbit42 on Thursday January 24, 2019 @01:45PM (#18991616)

Who isn't paying their taxes? Bitcoin can be sold for fiat and taxes can be paid.

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Re:'Bitcoin will go to zero': Davos talks up the future of b... by majewsky on Friday January 25, 2019 @06:14AM (#18997087)

Exactly. If I have to pay taxes in dollars, why should I accept anything but dollars in the first place?

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