First off let me preface this question by saying this is in no way a “gotchya” post to bitcoin. I’ve held bitcoin in the past but don’t currently. I am genuinely posing these questions to better my understanding of the space and argument for investing in bitcoin.
When is the end goal? By that I mean that when crypto people say that it is the “future” of currency. The USD reigns supreme because you don’t pay businesses, landords etc usually in bitcoin because they have to pay taxes. As long as the government collects tax on its fiat, there is no backing to bitcoin. What is the future? Government collection of taxes on a centralized currency would always reign over decentralized currency it seems.
What happens in the result of a recession when people liquidate to stay afloat? There is no penalty for liquidating bitcoin like there is a 401k, that would be the first and easiest to be immediately drained.
I’m genuinely just curious about these 2 questions I was thinking about recently. Thanks!
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