Detroit to accept crypto payments for taxes in 2025!

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Huge leap

Donald Trump is the crypto bull, we hear it all over the place, and there is definitely truth in that. But other things are happening all over the crypto sphere that is pushing crypto and Bitcoin higher.

Today, a huge next leap was taken for crypto, the city of Detroit announced that for the year 2025 they will start accepting crypto payments for the collection of taxes. That makes it the biggest city in the United States (maybe even the world) to do such a thing. And probably others will follow now. This is huge news for crypto, maybe even bigger in the short term, than Donald Trump becoming the next president of the United States.

Downsides

There are a few downsides to this, Detroit won't have any crypto wallets themselves, but you will have to use the PayPal exchange service, which of course has some difficulties.
First, it will make the transaction take longer, so the volatility of crypto could play a role in the payment. By the time the payment gets through, you could have paid too little or too much.
Second, there are costs involved in the exchange through PayPal, so it won't be the cheapest way to pay your taxes.

Boost for Detroit

The city that used to be the center of the automobile industry in the world, has been through rough times, bankruptcy, massive unemployment, crime,... By this move, Detroit could become a new hotspot for crypto friendly ventures, and give the city a new vibe. This will surely make Detroit interesting for Tech entrepreneurs.
For instance crypto mining companies could directly pay with their "product". This will give the city of Detroit and the state of Michigan an enormous boost!

Way to go, Detroit!

Sincerely,

Pele23

Posted Using InLeo Alpha



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Taxation is theft as formulated in AnarchoCapitalism, true cryptocurrency is AnarchoCapitalism (I will argue that Bitcoin is not anymore since its polluting a lot and therefore violating the non aggression principal), taxation is statism, so claiming taxes in crypto is a wierd nonsence mix of statism and anarchocapitalism. It does not make sence philosophically.

What we need is to abolish the state and have 100% anarhcocapitalism.

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Anyway, how's your XEN minting coming along Lasse? You haven't posted about that since June 22. To show you how long that's been I got this XEN price chart off coingecko.com and marked June 22, 2024 when you last posted about XEN.

By the way, note that it is a "price chart" for the last year. Not a chart showing how XEN has been reducing its power consumption.

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