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Bitcoin will rise again. Bitcoin removes the need to trust a bookie/agent to move money offshore. Whenever flow of money is possible between a safe haven and

Bitcoin will rise again. Bitcoin removes the need to trust a bookie/agent to move money offshore. Whenever flow of money is possible between a safe haven and a corrupt/socialist big country with high tax rate/more population burden. Money flows to the safe heaven. Bitcoin is one such way to move money from african nations/india/china to safe haven like Switzerland, Singapore, UK etc... I am talking about illict gains/unreported assets which can't be moved through official channels. Moving your unreported assets to a different country might not be illegal in that country if a deal is structured correctly. That's where lawyers/accounts/consultants come into play. Bitcoin will rise again once a need to move money to save heaven rises again. It's an efficient medium to move large sums of money without trusting a bookie. I can buy coffee loaded in container from an african country where inflation has killed the local currency and banks do not have infra for international settlement or take much bigger cut or simply aren't trusted by local people. For this i make simple bitcoin transfer from Hong Kong and get my coffee contain undocked in Hong Kong. Edit: it's haven not heaven.

carlob 8y ago
First of all the word you're looking for is haven (as in a harbor), not heaven. Secondly, are you saying that bitcoin exists solely for the purpose of money laundering and tax evasion?
- InGodsName 8y ago
  No, but it certainly can be used for money laundering and tax evasion. It removes the need to trust a bookie or agent to move money offshore. There are lawyers/accountants in Switzerland and Hong Kong who will help you launder money from third world countries. Moving your assets offshore without local government knowing is not a crime in other country! Edit: why downvotes? What's wrong?
  - carlob 8y ago
    My point was that you are assuming some sort of libertarian viewpoint where nation-states trying to tax your money are fundamentally corrupt/socialist. I personally tend to think that in the vast majority of cases govt spending of tax money does more for the greater good than whatever a self-appointed authority would. There are many exception to this, but I still think this is largely true in democracies. But then again I tend to identify as a social-democrat.
    - InGodsName 8y ago
      Yeaa but if you go to some third world countries, you'll see high tax rate yet not enough benefits for your tax rate. Prime example is India where people still have power cuts yet business/salaried middle class pays north of 30% tax. People there will happily pay 60% tax if they get even Rome level of infrastructure access So, it's no brainer a lot of them move their money offshore. Edit: people who feel they are not getting fair share of their infra quality, with this line of thinking will move money aboard doesn't matter if it's ethical/legal thing to do or not.
      - carlob 8y ago
        This would require some discussion of international wealth and income distribution, but to me the injustice is not at the state level here, but rather in the fact itself that India is a third world country. The Indian upper-middle class should really be demanding reparation to the UK for the effects of colonization rather than moving money offshore damaging only their poorer countrymen.
    - mmirate 8y ago
      > nation-states trying to tax your money are fundamentally corrupt/socialist That is a true statement; taxation is theft.
perfmode 8y ago
The religiosity of this post is fitting.
- albertgoeswoof 8y ago
  Dogmatic is the word you’re looking for
  - perfmode 8y ago
    Nah. > strong religious feeling or belief Religiosity
mindfulplay 8y ago
Basically a scam then?

carlob 8y ago

First of all the word you're looking for is haven (as in a harbor), not heaven. Secondly, are you saying that bitcoin exists solely for the purpose of money laundering and tax evasion?

InGodsName 8y ago
No, but it certainly can be used for money laundering and tax evasion. It removes the need to trust a bookie or agent to move money offshore. There are lawyers/accountants in Switzerland and Hong Kong who will help you launder money from third world countries. Moving your assets offshore without local government knowing is not a crime in other country! Edit: why downvotes? What's wrong?
- carlob 8y ago
  My point was that you are assuming some sort of libertarian viewpoint where nation-states trying to tax your money are fundamentally corrupt/socialist. I personally tend to think that in the vast majority of cases govt spending of tax money does more for the greater good than whatever a self-appointed authority would. There are many exception to this, but I still think this is largely true in democracies. But then again I tend to identify as a social-democrat.
  - InGodsName 8y ago
    Yeaa but if you go to some third world countries, you'll see high tax rate yet not enough benefits for your tax rate. Prime example is India where people still have power cuts yet business/salaried middle class pays north of 30% tax. People there will happily pay 60% tax if they get even Rome level of infrastructure access So, it's no brainer a lot of them move their money offshore. Edit: people who feel they are not getting fair share of their infra quality, with this line of thinking will move money aboard doesn't matter if it's ethical/legal thing to do or not.
    - carlob 8y ago
      This would require some discussion of international wealth and income distribution, but to me the injustice is not at the state level here, but rather in the fact itself that India is a third world country. The Indian upper-middle class should really be demanding reparation to the UK for the effects of colonization rather than moving money offshore damaging only their poorer countrymen.
  - mmirate 8y ago
    > nation-states trying to tax your money are fundamentally corrupt/socialist That is a true statement; taxation is theft.

perfmode 8y ago

The religiosity of this post is fitting.

albertgoeswoof 8y ago
Dogmatic is the word you’re looking for
- perfmode 8y ago
  Nah. > strong religious feeling or belief Religiosity

mindfulplay 8y ago

Basically a scam then?