The UK economy is taking all kinds of ridiculous actions to mitigate the effects of Brexit. First we wasted £500m buying useless satellites and then we said we would be a cryptohub. I wonder how much this is going to cost the UK taxpayer.
Merged Bitcoin - Part 3
- Thread starter Dr.Sid
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The UK economy is taking all kinds of ridiculous actions to mitigate the effects of Brexit. First we wasted £500m buying useless satellites and then we said we would be a cryptohub. I wonder how much this is going to cost the UK taxpayer.
Suddenly
No Punting
"What is how you refute economic libertarianism in ten words?"
The UK economy is taking all kinds of ridiculous actions to mitigate the effects of Brexit. First we wasted £500m buying useless satellites and then we said we would be a cryptohub. I wonder how much this is going to cost the UK taxpayer.
Not quite the fiscal catastrophe El Salvador has embraced.
TurkeysGhost
Penultimate Amazing
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Just for laughs, reddit legaladvice thread about a tenant whose landlord claims to have held their security deposit in bitcoin, and has returned about 50% of the value because the market tanked.
MA does not screw around with landlord tenant law, and this guy has a slam dunk case to get 100% of it back in real money, plus the interest of a normal escrow account would have accumulated as required by law, and maybe even triple damages. But you have to admire the chutzpah of a landlord who thinks he can make his gambling losses with internet funbucks his tenant's problem.
https://www.reddit.com/r/legaladvice/comments/v39qbw/landlord_held_my_security_deposit_as_bitcoin/
ETA: "Bitcoin landlord" is the kind of cursed concept that seems to be tempting fate. This is how you get zombie Mao to rise from the grave and finish what he started regarding landlords.
MA does not screw around with landlord tenant law, and this guy has a slam dunk case to get 100% of it back in real money, plus the interest of a normal escrow account would have accumulated as required by law, and maybe even triple damages. But you have to admire the chutzpah of a landlord who thinks he can make his gambling losses with internet funbucks his tenant's problem.
https://www.reddit.com/r/legaladvice/comments/v39qbw/landlord_held_my_security_deposit_as_bitcoin/
ETA: "Bitcoin landlord" is the kind of cursed concept that seems to be tempting fate. This is how you get zombie Mao to rise from the grave and finish what he started regarding landlords.
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EaglePuncher
Banned
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Wow, Bitcoin fanboys. Imagine sending about half of the deposit back and also thinking that you're totally in the right,lol.
ETA:
Just another example of "Bitcoin is mostly used by scumbags"
ETA:
Just another example of "Bitcoin is mostly used by scumbags"
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a_unique_person
Director of Hatcheries and Conditioning
You know if the Bitcoin price had gone up the landlord would have kept the profit.
Dr.Sid
Philosopher
Well, you are right. Hard cash was never used for anything malicious. Bitcoin might be doomed after all. 
psionl0
Skeptical about skeptics
I don't understand what this story says about bitcoin. It sounds just like an everyday scam to me.
If the tenant paid the security in bitcoin then they should receive the same number of bitcoins back - plus interest.
Of course that didn't happen. If the landlord isn't talking pure BS, any losses on his "investment" are his and not the tenant's.
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TurkeysGhost
Penultimate Amazing
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Sure, hence the "just for laughs" framing. Landlords gonna landlord, it's just a funny anecdote that is tangentially related.
psionl0
Skeptical about skeptics
Fair enough.
That was my opinion years ago, and I was convinced that bitcoin would have been worthless for years by now. It's clear that I was utterly wrong and either bitcoin has durable utility I hadn't appreciated or the bubble is remarkably resilient.
But I think the original main point for its proponents was the currency aspect for which it has proven to be utterly impractical. Now it's basically just an abstract commodity which is subject to investor betting - some will profit, many will lose.
Without stablecoins, bitcoin has a bit of a problem integrating into financial markets, no?
psionl0
Skeptical about skeptics
a_unique_person
Director of Hatcheries and Conditioning
Every Etherium NFT now available as part of a 20tb download.
https://www.kotaku.com.au/2022/06/someone-right-clicked-every-nft-in-the-heist-of-the-century/
https://www.kotaku.com.au/2022/06/someone-right-clicked-every-nft-in-the-heist-of-the-century/
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Dr.Sid
Philosopher
That's even more stupid than the NFT idea itself.
porch
Muse
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Just watching news feeds, and new regulations proposed by senators etc, gets this comment
Omri Marian ����
@Omri_Marian
In fact, the language of the bill is so broad, that people could start a whole business of mining/staking crypto assets, hold them until death (and in the meantime borrow/short them against the box), and never ever pay tax on them.
Which is exactly how real estate works in New Zealand anyway. Capital gains tax is ridiculous in this context.
Omri Marian ����
@Omri_Marian
In fact, the language of the bill is so broad, that people could start a whole business of mining/staking crypto assets, hold them until death (and in the meantime borrow/short them against the box), and never ever pay tax on them.
Which is exactly how real estate works in New Zealand anyway. Capital gains tax is ridiculous in this context.
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