367 karma · joined January 24, 2019
If you want to make a customer cash-flow argument, Ethereum has $9B of ARR. Same story.
There was certainly a negative return over 20-year periods including the Great Depression.
And negative real returns during the 1970s stagflation.
Again, the understanding of "property" is evolving in this environment, and there are areas of regulatory uncertainty (such as synthetic assets from staking collateral in money markets). However, transferring from one wallet to another is pretty safe territory.
The IRS has designed crypto as a property, so you are subject to paying capital gains (or claiming capital losses) whenever you sell, convert, pay or earn. Converting one crypto to another (or to USD) is a taxable event, while transferring BTC in one wallet to another wallet is not (since you keep the same property). Further details at https://www.coinbase.com/bitcoin-taxes#paytaxes.
If you sell a car for more than you bought it for, you do owe taxes on that. https://www.carvana.com/research/2020/03/what-to-know-about-....
Great write-up by Erik Bernhardsson, CTO of Better, here: https://erikbern.com/2020/01/13/how-to-hire-smarter-than-the....
The larger shift is out of Treasury bonds into different reserve assets, such as commodities (oil, gold, alternative currencies). That one is very real.
Here we see that qeternity has stated an incorrect fact, therefore qeternity is unable to truly reason about anything :)
There is some fascinating work demonstrating generalization on arithmetic problems GPT-3 has never seen before, what do you think about that?