I agree with Svetski - probably a few generations https://fountain.fm/episode/13787009231

Not everyone will get there at the same time. April and May 2023 a group of countries will accepting Bitcoin as legal tender. By September 2023 other countries will be tempted to join. 2028 US is forced by international economic landscape to peg the dollar to BTC.

25yr at soonest. Prolly longer though. Not nearly enough people own bitcoin to even consider it right now. We need almost everyone to own a decent amount of btc before this can happen otherwise they will continue to vote for new fiat bailouts etc

OK so Balaji is way off base with 90 days then 😂

Sounds too bad to be false

If you buy anything with btc you are essentially selling it. The UK hmrc requires you to record the GBP price at that point and use that for capital gains calculations. Not sure how it works in other regions but I would imagine it is similar.

I guess yes. But what happens when you technically send it as a btc payment?

Followed btw! 🫂 Feel free to follow me back! 🤙

I guess that would also apply to zaps too. As the GBP value is so small and you get a certain amount of capital gains tax allowance, it shouldn't be an issue. Unless you are zapping a huge amount 😀⚡

But for the receiving end, in certain cases it can be handled as a tip, which in certain countries are not taxed.

Yeh again not sure about tips in other countries but you are required to pay income tax on tips in the UK. Good luck to hmrc tracking 21 sat zaps ⚡

https://www.gov.uk/tips-at-work/tips-and-tax