Mostly agree, but the block size wars had a huge impact. I personally have witnessed the adoption movement grow and then fizzle out after the wars. Regulations were the same, or better, than today.
Again I can't agree with that because I saw people adopting and using it during this time. What changed is that all the energy got sucked out of the room with the block size wars.
Correlation isn't pure causation but it does leave clues.
But I guess my point is there's literally zero evidence that tax status was a catalyzing factor.
This issue was an issue when adoption boomed, but didn't hamper anything at all. No massive crackdown from tax authorities happened in any correlated timeframe of the adoption bubble cooling.
Yes, I do agree that for may normies that has been a concern, but that's more of a barrier to those people adopting crypto, not anything that caused the people who were already using it to stop.
Yes. But the cause of the delay in adoption had to do with regulation not block wars.
Plus lightning is not the answer.
To move forward we have to make sure we don’t try and rewrite the past by telling from our viewpoint.
I did a panel a few weeks back on it, with NH as a specific case study:
Mostly agree, but the block size wars had a huge impact. I personally have witnessed the adoption movement grow and then fizzle out after the wars. Regulations were the same, or better, than today.
true but that is insider baseball to the normies it stopped being a currency the minute cap gains taxes were applied.
Again I can't agree with that because I saw people adopting and using it during this time. What changed is that all the energy got sucked out of the room with the block size wars.
Correlation isn't pure causation but it does leave clues.
you are speaking from a bubble viewpoint.
I am speaking from what the world and economy did.
This is one big issue with the industry.
Can’t see the forest for the trees.
But I guess my point is there's literally zero evidence that tax status was a catalyzing factor.
This issue was an issue when adoption boomed, but didn't hamper anything at all. No massive crackdown from tax authorities happened in any correlated timeframe of the adoption bubble cooling.
Yes, I do agree that for may normies that has been a concern, but that's more of a barrier to those people adopting crypto, not anything that caused the people who were already using it to stop.
no crackdown happened but the average users left over fear of tax consequences.
Sometimes just the fear of something is strong enough.
I understand your point from adoption of the crypto community.
My point is it stopped businesses from wanting to “touch” it.
The best thing happening right now is businesses are no longer afraid.