Crypto’s Final Price Could Be Zero

Re:Crypto’s Final Price Could Be Zero by notch656a on Tuesday November 29, 2022 @11:47AM (#33789883)

Bitcoin is legal currency for taxes in El Salvador. And someone there will always be someone in el salvador needing to pay taxes.

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Re:Crypto’s Final Price Could Be Zero by davidweatherall on Tuesday November 29, 2022 @11:51AM (#33789954)

Yes, but Warren Buffer doesn't live in El Salvador, so the only thing he could do with BTC is sell it to someone for USD so the point still stands

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Re:Crypto’s Final Price Could Be Zero by est31 on Tuesday November 29, 2022 @11:51AM (#33789956)

So Bitcoin should be priced according to the size of the El Salvadorian economy. Not all of the economy, but the economy conducted in bitcoin. Bitcoin can't take credit for people using alternative currencies to pay their taxes in El Salvador, or using it to buy groceries, pay rent, etc.

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Re:Crypto’s Final Price Could Be Zero by pessimizer on Tuesday November 29, 2022 @12:00PM (#33790095)

> And someone there will always be someone in el salvador needing to pay taxes.

1) You don't need bitcoin to pay taxes in El Salvador. You need dollars to pay taxes in the US.

2) Why would people in El Salvador give you their USD for bitcoin when you can pay taxes there in USD?

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Re:Crypto’s Final Price Could Be Zero by nikanj on Tuesday November 29, 2022 @11:51AM (#33789967)

But it’s not the only one, unlike the USD

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Re:Crypto’s Final Price Could Be Zero by olalonde on Tuesday November 29, 2022 @12:11PM (#33790232)

So do you believe USD would be worth zero if the US accepted foreign currencies for tax payment? Or abolished taxes?

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