[smeej]

Given that the median family income in the U.S. is almost 15% less than $80k[0], the majority of U.S. households don't have to worry about this problem.

You can try to make it out to sound really widespread if you want, but the facts don't support you.

And the fact that people with lower incomes stand to benefit more from crypto than people of higher means who already have access to reliable banking systems is part of the point.[1]

[0] https://www.census.gov/library/publications/2020/demo/p60-27... [1] Bitcoin's genesis block, which cites the bailout of banks at the expense of sound money.

[jacques_chester]

My top level point is still the same. The government won't settle debts in crypto. Taxes are the main one, but there are also fees, levies, duties etc etc which will need to be settled in fiat. That is not likely to change.

[alexeldeib]

can you help me understand the income point you made? I'm not sure I totally follow.

If I make less than $40k a year, I pay 0% capital gains? But what about income tax? You have to have some form of income, which will be taxable. I don't see how to keep that so low your effective taxation will be 0% while having enough money to live on? Am I missing something? Forgive my unfamiliarity with the tax regimes here.