this post was submitted on 13 Nov 2024
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Every time the price spikes I get the feeling its large holders cashing out while they can and the liquid from newcomers is available. Which would make it mostly a scam, kinda like the stock market but even more shallow somehow, as if the stock market wasn't unrelated enough to actual production and very esoteric.
It really depends on the community you're talking with. In the Bitcoin community that would not surprise me in the least if it's just big holders dumping on little holders to cash out for fiat. In the Monero community however that's totally different because they want to use it as actual money. They, and I include myself in this category, believe that the government should absolutely not have control of our money supply that they can manipulate at any time for any reason or no reason at all and make everyone less wealthy, with the exception of those who they choose to give "government contracts", "incentives" or "subsidies". This is why the libertarians say that taxation is theft because they tax you on your productive hours of your life and call it an income tax and then they give it to the people who they choose to flatter and leave you homeless and shit.
Income taxes go back into services that help society. How do you expect a government to fund any of the infrastructure and services that you take for granted around you without it?
some areas do fine without income taxes. plenty of other types of taxes.
Name one
Cayman Islands, UAE, Bahamas, Monaco, Bermuda, Qatar, Bahrain, Brunei, Oman, Kuwait, British Virgin Islands, Panama, Saudi Arabia, Anguilla, Somalia... There's more, but you only asked for one. I will admit that doing fine is a relative term and probably doesn't apply to all these places. 😂
Not exactly the places you would go for living a free life...