This might help too. From the Financial Review: This court case could make your bitcoin profits tax-free Joanna MatherWealth editor Updated May 19, 2025 – 4.38pm,first published at 12.18pm A judge says bitcoin is just another form of money, which means it could be exempt from capital gains tax – a decision that upends the Australian Taxation Office’s approach to taxing cryptocurrency and could open the door to millions in refunds. Victorian magistrate Michael O’Connell said bitcoin was property, but akin to Australian dollars rather than foreign currency, shares or gold. The implication is that just like exchanging a $20 note for two $10 notes, no tax is payable.
Ponzi claims they have a business model, but instead they pay old investors with cash from new investors. Bitcoin is claimed to be a "digital gold" and "store of value", but it's an asset propped up by $150B of Tethers printed out of the sky by an offshore company with 10 employees with no audited financials. Attention gives the value, baseball or pokemon cards can be insanely valuable too... but bitcoins value is completely artificially inflated and not a consquence of organic demand. People don't want bitcoins because they are rare, but because their price goes up and price goes up because of Tether.
I guess the bitcoin credit card with points is the next thing required? I think the Steak and Shake things speaks to ongoing adoption and visibility in the mainstream.I believe there is some sort of 'Bitcoin Meal' which attracts a discount when paid for with BTC. Golden Arches next NoahA! haha
Let's say all of this is true (and I don't profess to know either way). What causes the music to stop, the party to end? My guess is a major systemic financial shock, which is why I have my doubts about BTC holding up when* the next really nasty recession/bear market hits. * And it is when, not if. Human nature (greed, fear, overconfidence, irrational exuberance) never changes. Too many investors now have never experienced a secular bear market like 1966-1982, a stock market crash like Nasdaq 2000-2002, or a financial crisis like 2007/8, let alone a 1929 type collapse.
(SEMAFOR) Crypto kidnappings come stateside, worrying execs Gonzalo Fuentes/Reuters A string of crypto kidnappings across Europe and the US have put executives and investors on edge. A brutal scene unfolded in New York City over the holiday weekend, when a Kentucky man was arrested and accused of torturing an Italian tourist to obtain access to his crypto wallet. Concerns have grown after hackers stole from crypto giant Coinbase the names, addresses, and account balances of some customers. “This hack will lead to people dying,” TechCrunch founder and crypto investor Michael Arrington wrote on X. Masked assailants unsuccessfully attempted to kidnap the daughter of a prominent crypto executive off the streets of Paris earlier this month, while the co-founder of Ledger, which makes physical crypto wallets, was kidnapped alongside his wife and mutilated earlier this year. French police yesterday arrested 20 people they believe were involved in the plots, which authorities said were attempts to steal crypto. Crypto enthusiasts blame rules that require companies to collect personal data in the first place. “Regulation is the actual thing to target,” investor Balaji Srinivasan wrote. But kidnappings stemming from hacks of banks — which have to collect that same data — are vanishingly rare, suggesting that crypto’s vulnerability lies in the untraceability (to a point) of payments and its usefulness in criminal enterprises.
This thread's first message shows BTC was at 9,000$, so if someone held all the way from that year, he must have made 1200% gains (current price: $108,796). Nice!! So who might be ultimate diamond hand here?
what firm is doing the processing and BTC conversion? I bet their spreads are wider than airport currency kiosks. cha-ching. did I mention RBUX yet