You cannot tax that what is worthless
Says who?
Former chief of the IMF, now captain of the ECB, Ms. Lagarde has spoken.
She did not state that, now did she?
Well according to her Crypto Assets are worthless and Central Bank Digital Currencies {CBDC} are da bomb. Her cheering for the Digital Euro as el presidente del European Central Bank {ECB} makes sense. Just like those two oal uber rich grumpy men every time will try and trash talk Bitcoin and its relatives. Bunch o muppets them lot are. But, they're old wealth and they know that if the spending value of what they call 'money' drops then they're fogged. That's why them lot have to get richer and richer. As their precious 'money' devaluates by the second. 'Money printer goes prrrrr...', well it is in fact just some computer order. Like: "Press 1 for 1 billion per month, press 2 for 2 billion per month..." It is mostly digital, almost no cold hard cash involved anymore. But hey, let's call it 'inflation', that has a better ring to it than 'devaluation'.
It is bleeding obvious to those who dig just a little deeper. But do not dare call for a 'Bank run', because that might result in some jail time. Yes, it became law, it is forbidden, do not call for a 'Bank run'. Well, let me put it like this then: "It might be a bad idea to leave your 'money' under Bank control. It might be wiser to take it out in cold hard cash. But walk don't run." Also, as there is no cold hard cash available in the Banks these days anymore, expect the weird situation where you have to order it. Where you will be asked why you want to take out your 'money'. And those are the nicer ones. There might be limits on how much you can take out, before you are punished with interest for wanting more. Remember yourself though, that it is your 'money' they are debating about. Yeah, that good oal system at work. Where one might not be able to decide where to send ones own 'money', or it will be taken away and gets frozen. Or whatever 'politics' decide.
And then there are Cryptocurrencies
Sure let the Banking Monetary Governance system state how all that is Cryptocurrency is worthless. Because what has no worth cannot be taxed. If it can be taxed then it has value. Or am I actually making too much sense? It is kind of weird to claim Cryptocurrencies have no value, but it is still to be taxed. The logic used by the Banking Monetary Governance system is close to crazy. Still I can send this worthless stuff all over the world in a jiffy. And for some reason I need to put it on my (digital) tax return form, if I have more than 40K in their 'money's worth. Or if I want to trade and exchange anything Crypto related I have to go through some identification process that every fascist system in history would cheer for. Not stating that on a global scale we already might live in one. As you know fascism has been defeated, or so it has been claimed. Until you read stuff about operation 'Paperclip'. Yeah, yeah, I'll make myself a nice aluminium foil hat again. (It is not tin, if you want to make fun with it, then actually show that you know what it is.)
Yet, no matter what on the larger global scale you and I might differ in opinion about wether or not we already are facing a proto neo fascist system being rolled out, hopefully we agree on Cryptocurrencies having value. The reason the 'money' boyz and gallz are kicking so hard against our beloved Cryptocurrencies is because they know better. They know how something gets value through its actual use. And that the amount of something being available does something to its value. Even that process can be manipulated. And turning on the trillion digital 'money' printing press will make it more wortless in spending value. Where at some point in time a so called economical crises is being constructed. At that moment it might be too late to cash in on the 'money' in the Bank. (Again, I do not call for a 'Bank run', as that is illegal for me to do so. Your 'money', your choice.)
Yeah, but the Cryptos crashed
True, I felt it myself. Just had moved into DeFi {Decentralized Finance} myself and saw how the value dropped. At some point only 20 to 25 percent was left. That was when I decided to buy some Terra-Luna, as if I wanted to lose even more, right? Meaning I might not be the one giving you advice on how to speculate. Which I won't do indeed. No, only invest that what you are willing and can effort to lose. And even then, when the shit hits the fan, it still sucks in a bad way. Following the path to the Terra-Luna 2 launch I can see how many actually did risk what they cannot live without. And they blame others for the risk they took themselves. While probably cheering a stable coin algorithm when Luna was above a 100 Euro. Sure, I do feel sorry for some of them. But it is part of the game. The higher the possible return, the higher the risk of ending up broke. And I was taught never ever to lend 'money' for speculation, no matter how high the 'promissed' golden mountains were supposed to be. Greed has an ugly face and it can have us make stupid moves.
All that is human is known to me. Et ergo: I bought a shitload of LUNA... That is mostly a huge gamble, I do admit. That is why I only put in a small portion of my Cryptos. Reading how the Terra-Luna team will create a second Blockchain does not give me high hopes though. Meaning I probably will be stuck with a lot of Classic LUNA. Getting back on the subject, Ms. Lagarde might at least be spot on about this one being worthless. Okay, so it seems there is some 10 percent drop in LUNA 2 for those who HODL classic LUNA. Yet it can not be moved until after about two years or so. Have to dig in a little deeper into that. But, that is what I get for taking a gamble. And I am fully aware of that. Luckily my other investment seems to actually take off. But I'm perfectly okay with Ms. Lagarde and those two oal Grumpy uber rich dudes claiming them Cryptocurrencies have no value, at all. Meaning I cannot be taxed on something that is worthless. In the meantime my activities on Polygon Matic tell me a different story. But hey, I might be a dreamer who has lost all connection to reality.
The more they talk about it
Guess you and I might actually thank them oal 'money' peeps for bringing up Cryptocurrencies all of the time. Because it is advertising its existence, by some people who seem to attract a lot of attention. In the meantime there is advertising for Cryptocurrencies, at formula 1 racing, on the soccer fields and people talk about it. Pretty amazing for something that is considered worthless by the oal 'money' gangstas. The more they kick, the more interesting its gets, as it shows to me that those of the oal 'money' have no control and do not seem to have a clue how to. When they put their own freshly 'printed' trillions in, to pump it, what will happen if they then dump it? It might create an unwanted side effect, hard to deny it is worthless by then. And there is actually taxation on Cryptocurrencies. That is a way to legalize it. So, I think what Ms. Lagarde did was kind of repeating the same old same old. While trying to move forward the CBDC creation of the digital Euro.
Actually the way I see it is that Cryptocurrencies are competition to the oal 'money' thing. And all those who have their wealth dependent on it will dislike Cryptocurrencies, for one because they can not control it. With a complete digital 'money' system they probably can. Or at least I think those inside the Banking Monetary Governance system believe they can be in total control after cold hard cash has been exterminated. But, even though Blockchain technology will also be used, it will be in a centralized environment, under the control of a global system. Cryptocurrencies though are the next best thing to cold hard cash, no banking account needed. And there are some great privacy and anonymity developments ahead. While some are already being rolled out like MimbleWimble as a sidechain for Litecoin {LTC}.
This is where Cryptocurrencies are a real pain in the neck for the Banking Monetary Governance system. So the ones who are part of that system can never ever promote Cryptocurrencies, as that would leave them broke and jobless. Therefore it is a good thing to hear them trash Cryptos. To read how governments threaten to forbid this and that. While they still want to cash in on taxation. It is awesome to see two oal Grumpy uber 'money' rich muppets try to take a piss at Bitcoin {BTC}. More I say, more of that, as I know I'm actually on team 'good' this time and we are getting on the nerves of 'evil'. Really, I have to admit, I'm having a great time, even while some state how we seem to be stuck in a bear market. The sour sad attack attempts on Cryptocurrencies make me laugh all the way to the bank. To get my 'money' out in cold hard cash. And mind you, I'm not running, I'm walking slowly.
Have a great one!
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