Exactly. People that say that the value of fiat money is fake, never think about taxes. You want to own a house? The government mandates that you acquire and give them a certain amount of US dollars. Even if you did every single transaction in your life with other assets, paying for stuff with gold and chickens, at the end of the day, the tax man will come for you, and the tax man only takes dollars.
> You want to own a house? The government mandates that you acquire and give them a certain amount of US dollars.
I have gone through many county clerk & recorder documents. I regularly see 6 and 7 figure houses change hands via recorded quit claim that says things like: 'love and other valuable consideration' or the frequent 'ten dollars'.
And I have read a lot of State law. While there is shady stuff in law such as "federal IRS lien can be recorded without a hearing nor judgment in State court", I have yet to see law which requires $ to exchange a house. Am interested in seeing a State law reference you may know of.
That's just some dummy language in the deed and not the actual transfer of value. Almost every deed is for around $1 even if the sale price says millions. In the U.S. at least it doesn't matter what you put on the deed, either way they will tax you based on the actual value of the transfer.
I realize that at the state level in the US things vary by jurisdiction, but in Canada at least you’d be hard pressed to buy property somewhere that doesn’t require annual property tax payments paid in CAD.
I lost faith in cryptocurrency pretty early on because of the idea that it costs money to send or receive money. My ideal of a currency is it should be free of cost or almost free of cost to send or receive money.
There was another post here about a thought experiment where someone asked if I had eight billion dollars, how can I send a dollar to every person on earth? Well, right now you can't because it costs too much to send or receive money.
I don't have a solution but the fact that eth is full of "gas" people who want USD, makes me think it is no different from the Bitcoin crowd regardless of the pos switch. Or to quote the wolf of wall street, the people who own Bitcoin and Ethereum networks still take home cold hard cash. Don't fall for their BS. Bitcoin or eth doesn't pay for your mining rigs or your electricity.
