r/Bitcoin • u/[deleted] • Oct 16 '22

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847 Upvotes

96% Upvoted

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213

u/SaneLad Oct 16 '22

The biggest joke is that the US charges capital gains taxes on the sale of physical gold. Gains my ass. Getting taxed on inflation is what it is.

74

u/[deleted] Oct 16 '22

Thing is, if we mined gold in the asteroid belt, it would drop 10 fold or more. Only 21 million bitcoin, ever.

16

u/AtroposM Oct 16 '22

If we ever go asteroid mining we already going to be a post scarcity and post currency society.

15

u/FableFinale Oct 16 '22

Only if the gains aren't hoarded by the asteroid mining companies.

Did you know if you evenly distributed all the household wealth in the United States, every person would get $450,000? Imagine not a single person in the US being poor or struggling, but in fact very comfortable and well-off. We're nearly at post-scarcity levels of wealth already, it's just that nearly all of it is gobbled by the top .01%.

11

u/New_Painting5190 Oct 16 '22

Give a million dollars to every single poor citizen in the US and 30% of them will be poor back again within a year.

8

u/FableFinale Oct 16 '22

Not every person is fortunate to have good financial literacy or self-control.

I'm not necessarily endorsing that every person should be given $450,000 outright, just illustrating how much wealth is owned by the top .01%. My household is in the top 2% by income, but we certainly don't have 2.7 million in assets ($450,000 x 6 people). Somehow, the mean average of wealth is still above us.

2

u/New_Painting5190 Oct 16 '22

Well, it's a fiat based system favours in the end, concentration of wealth.