Quote:
Originally Posted by Hehe
I'm not buying the argument.
BTC has nothing fundamental that create value for it. One can argue all he wants, but BTC is what it is... a bunch of numbers that takes a lot of processing power to come up with.
The only thing (for now) is that the government has not recognize it as such and thus there is no real/legal way to tax you should you choose to keep your holdings in BTC.
Nevertheless, the more mainstream BTC becomes, the more gov. control would be laid on top of it; making the original intention pointless.
Yes, with BTC design, one could argue to never claim anything on their taxes... but if one ever tries to convert BTC (however its value) into something gov. has control on, you can bet they will want a cut from it.
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again, look up the previous (probably up a couple posts) arguments on intrinsic value. all currencies and gold have none of it. it is all government backed.