Yep.
I also find it very disingenuous how crypto enthusiasts use people in third world countries under oppressive regimes as their go to "why crypto matters" example while they themselves are only actually only in it for a big payday.
I also find it very disingenuous how crypto enthusiasts use people in third world countries under oppressive regimes as their go to "why crypto matters" example while they themselves are only actually only in it for a big payday.
Somebody doing taxes this year is going to be on the hook for last year's BTC prices, and by god, they need it at least 100% ROI just to break even after paying taxes in the US.
So someone doing taxes this year either sold at a profit and has gains to pay on cash, sold at a loss and has no tax to pay, or bought and held, again, no taxes to pay.
There's no being "on the hook for last year's BTC prices" in any of these.
And if the risk of those things goes up, a rational person increases their bets as a hedge. Because the payday does go up, but only because everything around it is collapsing.
The difference is that you don't think those things could ever happen here; in our peaceful, stable, bourgeois society.