It seems like each day cryptocurrency gets another boost in the arm.
Today, we see the Governor of Colorado coming out and saying that the state might accept crypto payments (BTC and ETH) on taxes by the summer.
Then we have a member of the Board for Walmart (among other entities) claiming that cryptocurrency is going far beyond the financial services arena.
In this video I discuss how cryptocurrency is going to impact both of these situations and how it is much bigger than people understand. We are passed the point of no return with this. It is only going to get bigger.
The key is to remember, cryptocurrency is a technology with a monetary component.
Articles cited in video:
https://cryptopotato.com/state-of-colorado-to-accept-crypto-for-tax-payments-by-summer-2022/
https://blockworks.co/walmart-board-director-cryptos-potential-goes-beyond-financial-services/
▶️ 3Speak
Like you have rightly said crypto is only going to get bigger no matter how the government choose to take it.
The lines are becoming clear: either for or against it.
Many want to control it which is another way of saying against it.
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That's the beauty of the decentralized nature of crypto, they can't control it.
This was an interesting one to see, the move from Jared Polis is very bold.
Cryptocurrency however, is getting the much deserved attention that it needs in whatever the case maybe, it keeps making headlines.
ETHDenver is one I reckon with.
It is a big move. We are seeing things really taking shape. There is a lot going on which is tilting things in favor of crypto. This is vital to remember.
This is a tug-o-war that we need to have a lot of weight on our side.
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I love the way you put it, tug-o-war.
Definitely, slowly but surely, it would all fall in place.
Yes things are starting to line up. We are seeing things getting stronger each day. Basically there is no stopping this.
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I think it's quite nice to see them accept crypto and it's the first step to adoption. However how many people do you think will be using crypto for taxes? I feel it might be a little bit risky because your basically letting the state know what your wallet address is.
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I dont think many will actually do it. We are still too early in the game. Plus who is going to give up BTC or ETH when most people believe they will go to higher levels.
If they accepted Stablecoins that might be different. Either way, it is the publicity that is important along with the validation. By accepting it, the State of Colorado is not going to take action against cryptocurrency.
We have another safe haven.
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Cryptocurrency, a technology with a monetary component; I like that definition. Crypto I think is starting to get attention now as it seems to get harder to not be noticed. It’s exploits are just too overwhelming.
Yes and now it is up to us to expand the use case and innovation associated with the technology. Focusing upon the monetary aspect is a mistake. Yes it is a component but there is so much potential outside of that.
Tokenization can spread far and wide.
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I had just read the other day that Polis was pro-crypto and that we have fairer crypto laws than most, so I have this tab sitting open to read about it but I haven't done that yet, lol: https://leg.colorado.gov/bills/sb19-023
Crypto for taxes is interesting. I'm thinking the state can probably afford to sit on a bag for a long time.
I would believe that the state will unload the second it hits to reduce the exposure to volatility.
That is what other areas that seemed open to it have considered.
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That's true. But they also invest in things, like state pension funds invest in the stock market?
Many states are barred from investing holding digital assets. It seems that many are having to change their laws to fit this in.
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Oh, gotcha! That makes sense.
As always great information. As more city and states begin to accept crypto in one form or another it would be of value for a searchable listing of these to be made. (anyone?)
DDO yes another acronym now we need to truly define it and differentiate it from DAO. My 1st thought is as a sub definition.
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