MultiversX Tracker is Live!

Bitcoin is the only asset that you can have complete ownership

Bitcoin Reddit

More / Bitcoin Reddit 83 Views

I just realized that bitcoin is the only asset that you can have complete ownership (and I'm not talking about confiscatability). In our common social beliefs, we say that we have ownership over a house. However, it dawned on me that we don't really have complete ownership over the house due to property taxes. If we really "owned" the house, we wouldn't have to pay a "subscription membership" (property taxes) every year indefinitely. The only person who really owns property is the King of England, who owns most of the land in the world, and pays no taxes on it.

Additionally, even every physical object we "own" is impacted by this. For example, if you purchased a painting and claimed to have complete ownership over it, well... the painting occupies physical space and requires a housing property to store it. Thus one's "ownership" over some kind of painting or physical asset also gets impacted by the housing issue of having to pay a "subscription membership" (property taxes or rent) to store it.

Also, stocks / equities do not allow complete ownership either. Equities are a claim of ownership over a business, and the equity has value due to the prospective dividends that it will pay in the future. However, even these dividends are subject to a similar sort of "subscription membership" which is taxes on all revenue taken in by the company, and also taxes on dividend payments. These taxes are really at the vicissitudes of future government taxation. At some point, the company could theoretically be taxed 99.999% through official taxation or even hidden inflation taxation. Because of this, equities are not a vehicle for complete ownership over a business, and rather it's a business subject to a multitude of various taxes (subscription memberships). Plus, whatever traditional equity you own requires some kind of physical office, which is subject to property taxes as well.

Bitcoin, on the other hand, does actually offer complete ownership. There is no taxes every year on bitcoin. There is no subscription membership scheme.

Every other asset besides bitcoin falls under the "you will own nothing and be happy" paradigm, while bitcoin counters this and says "no thanks, I will completely own bitcoin in every imaginable way".

submitted by /u/CoyoteClem
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments