Say someone wealthy wants to escape the taxman and spends all their fiat buying things that "have value as long as people believe it has value", like land, stocks, jewelry, art works, antique cars.
When the taxman comes knocking on their door, do you think this person will escape by saying "sorry, I don't have fiat available to pay for the taxes, come back next year!"? No, the taxman will respond by either seizing their assets or forcing the person to liquidate into fiat.
What makes Bitcoin (or crypto) different in that regard?
When the taxman comes knocking on their door, do you think this person will escape by saying "sorry, I don't have fiat available to pay for the taxes, come back next year!"? No, the taxman will respond by either seizing their assets or forcing the person to liquidate into fiat.
What makes Bitcoin (or crypto) different in that regard?