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Re: Panama City Approves Bitcoin and Crypto Payments for Taxes, Fees, and Permits

By: Fiz in GRITZ | Recommend this post (0)
Fri, 18 Apr 25 8:26 PM | 16 view(s)
Boardmark this board | Grits Breakfast of Champeens! 		Msg. 06935 of 07345
(This msg. is a reply to 06929 by Fiz)
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From crypto.com:
"Approximately 19.5 million bitcoins have been mined and are currently in circulation, out of a total capped supply of 21 million. The remaining bitcoins are expected to be mined gradually, with the last one anticipated around the year 2140"

So, call it 20 million bitcoins. Bitcoin is "worth" around $100k per coin.


Pull out your calculator and play with the numbers.


Set any other defensible valuation and number decision. Maybe change the code to allow 100 million and set the starting value (floored by taxes) at $20k USD each. So total valution of the full mining set starts at 100,000,000 x $20,000 = 2e12 = $2 Trillion base value. Watch it zoom in value from there, as the first PRIVACY & STRICTLY LIMITED NATTIONAL COIN IN THE #1 ECONOMY AND BASTION OF FREEDOM IN THE WORLD.

Will someone check my numbers and logic, please. Why wouldn't it take off like a rocket? Yes, it would collapse the paper dollar valution right quick. But the US can print unlimited quantities of those to pay off the national debt entirely.

And the U$Bs given to US citizens would establish broad satisfaction with the new currency ;-) -- although the banksters and other criminal/klingons wouldn't be too happy to be made to stand in the "ordinary persons line". ;-(

Glorious!


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The above is a reply to the following message:
Panama City Approves Bitcoin and Crypto Payments for Taxes, Fees, and Permits
By: Fiz in GRITZ
Fri, 18 Apr 25 8:00 PM 		Msg. 06929 of 07345

http://bitcoinmagazine.com/news/panama-city-approves-bitcoin-and-crypto-payments-for-taxes-fees-and-permits


The USD is running out of time and relevance. I have proposed a revolutionary step forward for the Trump administration...before time runs out entirely:

Have the US
(1) introduce a U$B coin initially "mined" by the US government, keeping all of Bitcoin's privacy and inability to be Ponzied into existence with "debt" or any other means. This isn't tricky and ought not to be too controversial: there are thousands of BitCoin clones and near clones -- it is just that none of them are legal tender, especially in the US.
(2) Hand out most of the tokens on a stict citizenship basis (keep maybe half the U$B coins to cover national debt, but give the rest direct to citizens on a strict citizenshiip basis, maybe 1 coin per 330 million legal citizens basis.
(3) Make the U$B NON-TAXABLE LEGAL TENDER in the US for all debts.
(4) Do #3 by STIPULATING (codifying) a FLOOR (minimum) value of, say, $10K PER COIN and
(5) LOCK THIS FLOOR VALUE IN BY ANNOUNCING each coin can be used to pay $10K of US income taxes or pay any other US government debt.
(6) Do this before any other government can do the same and likely establish the U$B as the "reserve currency" of the world.


I don't think I laid out my vision here before. If you think it wouldn't work, please back up your argument (or perceived flaw) with some facts or logic.

Right now Bitcoins biggest problem remains it cannot be used in general commerce. This would usurp BitCoins precendence in a twinkling and, I believe, would create a huge new source of wealth and advantage for the US, almost overnight.

I've previously written about the sordid history of the dollar "hot swaps" (change the rules but keep the name) underlying the US currency system. This happened perviously at least half a dozen times since 1776. This would just be the latest and greatest -- and would simply get ahead of the rush by other countries which might try to do the same. And would put a nail in the coffin of "CBDC" Leninist ploys.

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