[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 394 KB, 512x384, UaLpJOK.png [View same] [iqdb] [saucenao] [google]
17526358 No.17526358 [Reply] [Original]

I was thinking today, what do we do if USD is rendered obsolete and Xcoin/token to USD pairing no longer makes sense. Will all currency be based on the market value of a different coin that also has a variable market value? Will we have a standard to go by?

Second question is, how will taxes work in the US if the USD is no longer a viable form of currency. For example, right now, we "cash out" crypto for USD. But if all you cash outs are for a different crypto, are you subject to taxes? None of your net worth would be calculated in fiat, so how the fuck would the government tax you on it?

>> No.17526382

>>17526358
What you're talking about is banks controlling monetary flow. Once paper money disappears, for all intents and purposes the Federal Reserve loses control. Meaning your money is more or less ABCBANKUSD which is pegged to some fantasy number.

>> No.17526485

>>17526382
Yeah but when banks lose control are we just free to do whatever we want? Like if i can constantly flip my holding from one coin that's a premium price to another that I can buy at a discount price and increase my net worth on, is that how one would generate infinite money? Seems like it to me.

>> No.17526509

Taxes will never go away, ever. Matthew was even a tax collector. That shit has been with use for millennias.

Humanity need something to base and do the math simple. For the last decades USD have been, but it could change for Au, OIL, Water price, BTC, yuan

>> No.17526640

>>17526358
bump

>> No.17526673
File: 10 KB, 239x211, disgusted.png [View same] [iqdb] [saucenao] [google]
17526673

>>17526640
stop bumping your own thread

>> No.17526674

>>17526358
They will find a way to get your money. They always have and always will.

>> No.17526680

>>17526673
no

>> No.17527003

>>17526358

You just price everything in BTC, just like alts always have been. Taxes will just be based on BTC, and governments might try to implemented a wealth tax to replace inflation.