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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: Elroy Jetson who wrote (137054)12/10/2017 3:20:41 AM
From: Maurice Winn  Read Replies (1) of 217782
 
I was unaware of the malware risk [which might or might not be true - I suspect it's easily avoided]. But the rest of the problems [and solutions] were obvious at the beginning: << At a point in the future, this will all seem so obvious a child could have pointed out the flaws. >>

Banks can hold bitcoin and do as they have always done, which is borrow them from depositors and lend them to others. A major advantage is less tax because there's no inflationary dilution ripoff by fiat currency creators [central banks of governments].

If people receive "interest" on NZ$ deposits [say 3% but has been 10% in recent decades] then they pay tax of 33% on that amount. With bitcoin which is not subject to inflationary dilution, interest rates would be lower and tax would be lower. That's a big deal.

So, even without currency hyperinflationary super novas as in Zimbabwe and elsewhere where money is destroyed, bitcoin still makes sense. Own a big lump of bitcoin, deposit it at a creditworthy bank, receive 1% interest without dilution risk and with likely capital gains as it increases in value.

Tax on the 1% is only 0.33% [in NZ] without risk of hyperinflation. In NZ$, one pays 1% tax and risks hyperinflation and is guaranteed dilutionary destruction even without hyperinflation.

Mqurice
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