yd on Nostr: This is a huge problem in the EU, especially in the Nordics. 1. Cash is dead, ...
This is a huge problem in the EU, especially in the Nordics.
1. Cash is dead, everything, even ID is controlled by Banks. If you get un/debanked, it's over. You can't even check your kid's schedule at school.
2. Taxation on financial instruments is 30% on gains by default (deductible at loss), or very little if you have a special form of accounts (close to 1%, regardless of movement).
3. 2025, many places where you would hold your BTC requires some form of KYC and will most likely share that info with the tax agency.
4. Inflation is higher than EU, due to own currency or the same if Euro is used.
There is a privacy movement and BTC is accepted in some niche places, but the state & tax agency, is strong, big and encompassing. The banks, even more so. The reason why credit companies excel here is that you can easily get money you lend out.
I can't use BTC meaningfully without risking getting un/debanked, so I am forced to hold. The 30% tax on gains is sadly the price to pay if fiat is needed. But this is still infinitely better than holding on to the shitcoin that is fiat. You cannot live or save for the future with the inflation we're experiencing.
1. Cash is dead, everything, even ID is controlled by Banks. If you get un/debanked, it's over. You can't even check your kid's schedule at school.
2. Taxation on financial instruments is 30% on gains by default (deductible at loss), or very little if you have a special form of accounts (close to 1%, regardless of movement).
3. 2025, many places where you would hold your BTC requires some form of KYC and will most likely share that info with the tax agency.
4. Inflation is higher than EU, due to own currency or the same if Euro is used.
There is a privacy movement and BTC is accepted in some niche places, but the state & tax agency, is strong, big and encompassing. The banks, even more so. The reason why credit companies excel here is that you can easily get money you lend out.
I can't use BTC meaningfully without risking getting un/debanked, so I am forced to hold. The 30% tax on gains is sadly the price to pay if fiat is needed. But this is still infinitely better than holding on to the shitcoin that is fiat. You cannot live or save for the future with the inflation we're experiencing.