Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: NotATether on July 12, 2024, 02:47:24 PM
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https://stacker.news/items/605591
It is no longer news that the government of Germany is offloading tens of thousands of bitcoins that it has seized over the years related to illegal activity such as drugs and stuff like that, but meanwhile, what most people outside Germany are not seeing is the image of a struggling economy.
In my opinion, I think it is useful to see the hard numbers associated with this in order to back up this evidence.
Germany, the powerhouse of the Eurozone, is grappling with a significant wave of insolvencies. Years of zero-interest-rate policies have fostered a fragile economy that buckles under even minor interest rate hikes. Compounding this are stringent regulations, the political battle against conventional energy sources driving up energy costs for businesses, high tax rates, and a generally investment-unfriendly environment. Here are the latest figures:
The number of insolvency filings in Germany rose by 6.3% in June compared to the same month last year, according to preliminary data from the Federal Statistical Office (Destatis). This follows a 25.9% increase in May. From June 2023 to May 2024, double-digit growth rates were observed, with June 2024 marking the first single-digit rise.
As you can see, these policies, which have nothing to do with crypto by the way, are hurting Germany's economy and are causing businesses to close down.
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Meanwhile:
https://www.dws.com/insights/cio-view/asset-classes/cio-special-05282024/
With the publication of the GDP figures for the first quarter, Germany's economic turnaround became more or less official. Not only did the economy grow better than expected, at 0.2% from the previous quarter, but the figures for the first three quarters of 2023 were revised upwards.[3] This means that, according to current estimates, the German economy did not shrink last year, but merely stagnated, which also corresponds to our initial forecast. Our estimates for 2024 are also above those of the consensus. For the full year we see average annual growth of 0.4%, above the consensus of 0.1%. We also expect growth to pick up during the year – in the fourth quarter of 2024 we see 1.3% year-on-year growth, double the consensus forecast of 0.6%
I tell you, if there are two things that died more times than Bitcoin is the us dollar, the Us army and the German industry!
If Germany is struggling with an inflation of 2.2% I would love to hear some opinions about Argentina and Turkey!
But I get it, everyone is butthurt because the move made the price go down so now it's time to find fault, I believe the 4th Reich also lost the war because they hated Bitcoin,right? ;D
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As you can see, these policies, which have nothing to do with crypto by the way, are hurting Germany's economy and are causing businesses to close down.
I am sure that the same malady that affected the Biden administration of USA is the same one that created havoc in the Germany's economy...woke ideas that are really radical produced unexpected results like making doing business a lot harder as the costs of everything shoot up to the roof under a heavily regulated environment allowing limited leeways for businesspeople to grow more which in turn resulted into shrinkage in different areas of the country. Germany has had been struggling for some years and this should not be because where Germany goes so does the whole of the Eurozone. At any rate, I still beleieve that eventually Germany will get back to its feet and claim back its status as the powerhouse of Europe eventually becoming once again the hug of growth like in the past decades. Yes, this topic may not directly related to cryptocurrency but we should note that Germany is considered to a lot friendlier to the crypto industry than other countries and so with a good economy am sure there will be more impetus for people and institutions to adopt cryptocurrency.
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I tell you, if there are two things that died more times than Bitcoin is the us dollar, the Us army and the German industry!
If Germany is struggling with an inflation of 2.2% I would love to hear some opinions about Argentina and Turkey!
+1, I do not like reports that talk about the macroeconomy from the perspective of one event. The economy, especially for a country like Germany, will not be affected by Bitcoin, and we must realize that even though the market capacity is more than a trillion, Bitcoin is still a secondary player in economic variables.
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Germany sold all of its confiscated Bitcoin over the past years and completely emptied its wallet. The Bitcoin community does not care about the real reason behind Germany selling such a huge amount, but what matters to them is the negative or positive effects.
The good thing is that the negative impact was limited and temporary, although some weak people got scared and sold and this caused the price to fall slightly, but the market came back and absorbed the wave completely and we are now seeing a very good recovery, contrary to what was expected.
This is the most important thing for us that the Bitcoin market has become so strong and large that it will not be affected by the sale of all these huge quantities.
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Germany sold all of its confiscated Bitcoin over the past years and completely emptied its wallet. The Bitcoin community does not care about the real reason behind Germany selling such a huge amount, but what matters to them is the negative or positive effects.
These are for legal reasons that prevent the government from keeping confiscated assets, and this has happened several times. The good thing is that sometimes these laws do not force governments to sell cryptocurrencies in a short period or to a single buyer, so they often take place in auctions and their price is often much lower than the exchange rate.
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My question is when will they see the effect of selling those billions worth of BTC to their economy? The influx of tourists because of the recently concluded EURO 2024 probably boosted their economy too.
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These are for legal reasons that prevent the government from keeping confiscated assets, and this has happened several times. The good thing is that sometimes these laws do not force governments to sell cryptocurrencies in a short period or to a single buyer, so they often take place in auctions and their price is often much lower than the exchange rate.
Yes, we noticed that the impact of the sale did not have a major negative impact. In fact, its impact was slight and for a limited period, as the price quickly recovered and rose to about 65K$.
However, even though the German government sold for less than 60K$, it made profits equivalent to $2.8 billion, according to a news I read on Cointelegraph.
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These are for legal reasons that prevent the government from keeping confiscated assets, and this has happened several times. The good thing is that sometimes these laws do not force governments to sell cryptocurrencies in a short period or to a single buyer, so they often take place in auctions and their price is often much lower than the exchange rate.
Yes, we noticed that the impact of the sale did not have a major negative impact. In fact, its impact was slight and for a limited period, as the price quickly recovered and rose to about 65K$.
However, even though the German government sold for less than 60K$, it made profits equivalent to $2.8 billion, according to a news I read on Cointelegraph.
I'm not sure how much they profited, but yes, for sure, some of the confiscated if not all comes from 2014 seizure, so it has gone in values as the price of Bitcoin around that time could be less than $500.00. So it's already a big profit that they got already. But the thing is that some government might have been owning Bitcoin as well secretly to act as a reserves,
(https://www.talkimg.com/images/2024/07/19/4PI41.png)
https://finance.yahoo.com/news/governments-hold-surprising-amount-bitcoin-125711893.html (https://finance.yahoo.com/news/governments-hold-surprising-amount-bitcoin-125711893.html)
Although obviously, we can remove Germany already from that list.
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This is the most important thing for us that the Bitcoin market has become so strong and large that it will not be affected by the sale of all these huge quantities.
We have become resilient and strong over the years. There is another one coming, which is the MT.Gox payment, but like Germany, I don't see how this will harm the market. I think with this, Bitcoin is ready for new heights, If this happened in the past, the market would crash and have a hard time recovering.
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My question is when will they see the effect of selling those billions worth of BTC to their economy? The influx of tourists because of the recently concluded EURO 2024 probably boosted their economy too.
4 billions in extra revenue from direct sources, calculated by direct spending of 2 million expected fans, might sound like much but Germany makes 40 billion from tourism each year! They also had a 24 billion trade surplus, so positive trade balance last month, 8 times what they got in crypto in just one month.
People really need to understand the size of the German economy!
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People really need to understand the size of the German economy!
They need to understand the impact of Bitcoin. Even for a small country like El Salvador, Bitcoin alone will not have a real positive impact, let alone the German economy.
Bitcoin needs decades before it affects the economies of countries.
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Bad policies are imposed in almost every country of this world and the whole country first takes full benefit for example, the millennials will take full advantage of these soft policies which are slowly eating the country's growth and a time will come when gen-z have to suffer the consequences caused by these policies. All they need is to modify them in accordance with the need.
I can clearly see lower interest rates at the start and taxation will decrease the national reserve and thus people who will be making more money will leave the country and they won't start a business in the country causing more loss to the country. Therefore a time will come when new generations have to suffer. This selling might not be enough to cover the economic situation of Germany.
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Holding BTC or not makes no difference to an economy like that of Germany, we are pro bitcoiners, but we have to admit the glaring truth. I don't think the German economy is struggling either, especially when you compare it with that of so so many other countries. They dumped their BTC, and that is that, end of story.
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People really need to understand the size of the German economy!
They need to understand the impact of Bitcoin. Even for a small country like El Salvador, Bitcoin alone will not have a real positive impact, let alone the German economy.
Bitcoin needs decades before it affects the economies of countries.
Salvador has had for two consecutive years the lowest economic growth in Central America, but god forbid we talk about it as it would be...FUD, right? ;D Now Germany sells a few Bitcoins worth not even 0.1% of their annual GDP and their economy crashes...
I can clearly see lower interest rates at the start and taxation will decrease the national reserve and thus people who will be making more money will leave the country and they won't start a business in the country causing more loss to the country. Therefore a time will come when new generations have to suffer. This selling might not be enough to cover the economic situation of Germany.
Oh yeah, people leaving Germany....in what alternate reality is that?
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Salvador has had for two consecutive years the lowest economic growth in Central America, but god forbid we talk about it as it would be...FUD, right? ;D Now Germany sells a few Bitcoins worth not even 0.1% of their annual GDP and their economy crashes...
That is the truth that many bitcoiners do not want to talk about, instead they would prefer to live in the illusion that things are great economically for El Salvador since they made BTC a legal tender, but that is not the truth. We must understand what BTC really is, and how it cannot really help a country's economy, neither does selling it affect a country like Germany.
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I doubt if there are any indications or economic reasons surrounding the German government offloading their Bitcoin. I think that the German government decided to sell off their Btc may be because price has really appreciated in recent time.
Again, German government Btc sales may not be associated with a struggling economy but may be because Bitcoin prices has increased dramatically this year and there was some critical needs to sales.
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That is the truth that many bitcoiners do not want to talk about, instead they would prefer to live in the illusion that things are great economically for El Salvador since they made BTC a legal tender, but that is not the truth. We must understand what BTC really is, and how it cannot really help a country's economy, neither does selling it affect a country like Germany.
The annoying part is that Bitcoinw as about verify don't trust, yet the mob is slowly moving back into the same direction as everything, where just tweets and memes without information are considered enough of a source today and as long as it's painting a good image nobody will ever consider doubting it.
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That is the truth that many bitcoiners do not want to talk about, instead they would prefer to live in the illusion that things are great economically for El Salvador since they made BTC a legal tender, but that is not the truth. We must understand what BTC really is, and how it cannot really help a country's economy, neither does selling it affect a country like Germany.
The annoying part is that Bitcoinw as about verify don't trust, yet the mob is slowly moving back into the same direction as everything, where just tweets and memes without information are considered enough of a source today and as long as it's painting a good image nobody will ever consider doubting it.
Living with the illusion of not really feeling the benefits, when Bitcoin became a legal currency but many people resisted.
But after all, a government like El Slavador has a lot to gain from the investment and mining that is made, but not from the transactions that take place.
Germany may be one of the countries that has not been able to make the most of their bitcoin and Germany can only sell it for a temporary profit.
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Oh yeah, people leaving Germany....in what alternate reality is that?
What I meant is, that they prefer to leave the country and settle in another country considering the facilitates and relaxation in financial terms they are getting. I am not saying they will just leave the country by facing struggles, while some might be. ;)
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What I meant is, that they prefer to leave the country and settle in another country considering the facilitates and relaxation in financial terms they are getting. I am not saying they will just leave the country by facing struggles, while some might be. ;)
Do you have any proof of people leaving Germany in their numbers, for the reason you claim; surely the answer is no. Let us stop making too much out of it once we hear about countries that are not interested in BTC, i am a pro bitcoiner, but i know that not everyone or every country would care about BTC.
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Oh yeah, people leaving Germany....in what alternate reality is that?
What I meant is, that they prefer to leave the country and settle in another country considering the facilitates and relaxation in financial terms they are getting. I am not saying they will just leave the country by facing struggles, while some might be. ;)
Yeah, and I'm asking you in what reality is this happening?
Seriously, how many people are leaving Germany because all I can see in the news is people risking their lives and drowning at sea just for a chance to get to Europe and especially Germany, I don't see Germans trying to storm the borders of Mexico or Nigeria.
Look at the figures 60 000! people from Salvador were caught trying to cross the border illegally to the US, 1% of the country's population was caught trying to flee another country in just a year!
We seriously need to stop making macroeconomics being about Bitcoin, it's not!
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~snip~
People really need to understand the size of the German economy!
Not only Germany, but also other large countries within the European Union, but also the EU as a whole. When we look back two years since the start of the second phase of the war in Ukraine, how many articles were written about how the EU will literally collapse (first, of course, it will freeze) because there is no more cheap gas and oil.
The assumption that Germany is selling BTC to save its economy is one of the weirder things I've read lately.
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The assumption that Germany is selling BTC to save its economy is one of the weirder things I've read lately.
Really it is and it is even weirder that people believe in such things, or maybe they don't and they are just upset that the sell off cause the price of BTC to tank temporarily. Events like these cannot keep the price of BTC down for a long time, but people should not make up propaganda against those selling BTC or who are not interested in it like we are.
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~snip~
People really need to understand the size of the German economy!
Not only Germany, but also other large countries within the European Union, but also the EU as a whole. When we look back two years since the start of the second phase of the war in Ukraine, how many articles were written about how the EU will literally collapse (first, of course, it will freeze) because there is no more cheap gas and oil.
The assumption that Germany is selling BTC to save its economy is one of the weirder things I've read lately.
Remember how we were supposed to:
- die in our houses of cold
- eat our hamster pets?
- no gasoline , no cars , no travel
- entire industry collapse
- skyrocketing unemployment
It's been two years and you can't get a damn booking in a hotel, I spend hours in traffic, everyone seeks workers and we've reached the highest levels of employment in the history of the EU, but still...we're supposed to go bankrupt. It's a 14 trillion economy that grew in the last quarter by only 0.3% but that means 42 billion so 10 times the amount of Bitcoins sold, that in just a quarter!!
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Yeah, and I'm asking you in what reality is this happening?
Seriously, how many people are leaving Germany because all I can see in the news is people risking their lives and drowning at sea just for a chance to get to Europe and especially Germany, I don't see Germans trying to storm the borders of Mexico or Nigeria.
Look at the figures 60 000! people from Salvador were caught trying to cross the border illegally to the US, 1% of the country's population was caught trying to flee another country in just a year!
We seriously need to stop making macroeconomics being about Bitcoin, it's not!
This is happening in this reality, I was not talking about the multiverse, if you will check some stats for example source 1 (https://www.destatis.de/EN/Themes/Society-Environment/Population/Migration/_node.html#1189580) and Source 2 (https://www.dw.com/en/germany-immigration-reaches-record-high-in-2022/a-66042319), you will know that if people are dying to go to Germany then there are Germans who are leaving Germany to other Europe countries and some are moving to other parts of the world. It won't be right to say, if the news is showing you the ones side that people are dying for German occupation, and not considering the other side where people are also leaving Germany, and these are those people who have established something in their life and now they are trying to move into another country better than Germany.
In the first source, you can see the departures are, the data is not so specific to tell if those are unique departures means, the person departed might be counted in arrival counting too if comes back. But this number still gives some idea that people are leaving Germany not permanently. I was just trying to say at the start that people are leaving and coming to this country. And speaking of Salvador's, I did not know about that information, thanks for sharing. I am also trying to get a scholarship of Germany at the moment because I can afford to go to Germany.
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~snip~
People really need to understand the size of the German economy!
Not only Germany, but also other large countries within the European Union, but also the EU as a whole. When we look back two years since the start of the second phase of the war in Ukraine, how many articles were written about how the EU will literally collapse (first, of course, it will freeze) because there is no more cheap gas and oil.
The assumption that Germany is selling BTC to save its economy is one of the weirder things I've read lately.
Remember how we were supposed to:
- die in our houses of cold
- eat our hamster pets?
- no gasoline , no cars , no travel
- entire industry collapse
- skyrocketing unemployment
It's been two years and you can't get a damn booking in a hotel, I spend hours in traffic, everyone seeks workers and we've reached the highest levels of employment in the history of the EU, but still...we're supposed to go bankrupt. It's a 14 trillion economy that grew in the last quarter by only 0.3% but that means 42 billion so 10 times the amount of Bitcoins sold, that in just a quarter!!
I am not surprised that the picture of the EU outside the EU is quite different from the one we have who live here - because if we are honest, huge resources are invested in creating the impression that the EU is collapsing, that people live worse than before, and that the majority of Europeans are against helping our eastern neighbors, who are subjected to aggression.
I will not say that there are no people who do not migrate, but I also hear that a lot of people come to Europe from the US, especially to Portugal.
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What I meant is, that they prefer to leave the country and settle in another country considering the facilitates and relaxation in financial terms they are getting. I am not saying they will just leave the country by facing struggles, while some might be. ;)
Do you have any proof of people leaving Germany in their numbers, for the reason you claim; surely the answer is no. Let us stop making too much out of it once we hear about countries that are not interested in BTC, i am a pro bitcoiner, but i know that not everyone or every country would care about BTC.
Dear Z-tight I don't think you got the idea of what I was talking about, you must read my first (https://www.altcoinstalks.com/index.php?topic=322713.msg1591219#msg1591219) post that I made on this thread and then read others. I was trying to say if the German economy is struggling, and they are not thinking about their future in the long run which can be clearly seen by their selling of BTC, but I know we can't just say they are not thinking about their future on single selling of a single asset. I was saying if the economy starts to scatter, and taxation will increase and business owners might prefer to move to and might want to start their business in some other country.
If you want a number of how many Germans who flew from Germany to some other countries just because they were fed up with taxation to back up my statement then I might not find that source link, but I did not say they already did but saying if things go wrong then in future. I will try to find past data as well, but a specific search of data is hard but I am sure these data will help you idealize. And speaking of being pro-bitcoiner, we all are, and we all don't really care at the moment about Germany, because they already made their move and in that move, I did not sell anything.
https://www.dw.com/en/germany-immigration-reaches-record-high-in-2022/a-66042319
https://www.destatis.de/EN/Themes/Society-Environment/Population/Migration/_node.html#1189580
https://www.infomigrants.net/en/post/58069/germany-net-immigration-sinks-sharply-in-2023
https://www.infomigrants.net/en/post/58508/skilled-professionals-leaving-germany-for-other-english-speaking-countries
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I was trying to say if the German economy is struggling, and they are not thinking about their future in the long run which can be clearly seen by their selling of BTC, but I know we can't just say they are not thinking about their future on single selling of a single asset. I was saying if the economy starts to scatter, and taxation will increase and business owners might prefer to move to and might want to start their business in some other country.
Can you stop with the struggling economy of Germany?
Seriously if the German economy is struggling let's make a head-to-head with your country and see what that leads to, deal???
Common, it would be nice to see how it is when strangers talk about your country!
If you want a number of how many Germans who flew from Germany to some other countries just because they were fed up with taxation to back up my statement then I might not find that source link
Again you talk about things you don't understand.
People in every country move in and out, there are people moving away from Switzerland and there are people actually moving to Syria, what we all ask you is proof that Germans (of German nationality and birthright) are fleeing Germany because of economic consequences...
And most important what economic consequences would that be?
Even more important, to where would they flee, so Salvador? ;D ;D
Ps, do you even read what you link to?
https://www.infomigrants.net/en/post/58508/skilled-professionals-leaving-germany-for-other-english-speaking-countries
Where in that link is anything about Germans leaving the country? All I can see is this
Germany is increasingly eyeing India as a recruitment ground for skilled labor migrants.
Figures from the Federal Statistical Office show that in 2023 alone, the number of Indian nationals in Germany was estimated at 36,391. In 2022, that number was estimated at 38,114 and 21,224 in 2021.
Second:
https://www.infomigrants.net/en/post/58069/germany-net-immigration-sinks-sharply-in-2023
Some 663,000 more people came to Germany to live in 2023 than emigrated from the country, according to official statistics released on Thursday (June 27).
Half a million people (legally migrated) because the economy is in trouble right?
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It's true that the German government’s offloading of seized bitcoins has captured a lot of attention, but it's also crucial to consider the broader economic context. The impact of this sale on the market and Germany's economy might not be immediately visible but understanding the hard numbers and economic indicators could provide a clearer picture of the situation. Examining these figures will help us better understand how these actions align with the broader economic challenges Germany is facing. Thanks for highlighting this important aspect!
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It's true that the German government’s offloading of seized bitcoins has captured a lot of attention, but it's also crucial to consider the broader economic context. The impact of this sale on the market and Germany's economy might not be immediately visible but understanding the hard numbers and economic indicators could provide a clearer picture of the situation. Examining these figures will help us better understand how these actions align with the broader economic challenges Germany is facing. Thanks for highlighting this important aspect!
I think the dire state of the German economy might prompt a question: Could investing in BTC help improve the German economy?
I don't dare to give an answer as anything can happen in the future, both positive and negative. As a BTC and crypto enthusiast, I think the German government should take advantage of the crypto wave to collect crypto taxes, supplementing the government budget to support the economy. Using the budget to reserve BTC comes with many risks but is also worth experimenting with on a small scale if the German government wants to leverage the price increase of BTC to generate profits to rescue large businesses instead of facing the general inflation of the EU.
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I think the dire state of the German economy might prompt a question: Could investing in BTC help improve the German economy?
I don't dare to give an answer as anything can happen in the future, both positive and negative. As a BTC and crypto enthusiast, I think the German government should take advantage of the crypto wave to collect crypto taxes, supplementing the government budget to support the economy. Using the budget to reserve BTC comes with many risks but is also worth experimenting with on a small scale if the German government wants to leverage the price increase of BTC to generate profits to rescue large businesses instead of facing the general inflation of the EU.
If nothing has changed (and I don't think it has), in Germany the tax on the sale of cryptocurrencies is 0% if you sell cryptocurrencies 1+ year after you bought them - so I don't believe that the German government has ever gone in the direction of making any significant money from taxing people who invest in cryptocurrencies.
They probably count on the fact that the profit from such investment will be returned to the system in one way or another, either through VAT, increased personal consumption or perhaps by starting a personal business that will perhaps employ additional people. Unlike some countries that have taxes up to 55% or at levels of 20-30% and thus actually discourage people from investing in cryptocurrencies, Germany has a very good model in my opinion, along with some other countries within the EU that have similar taxes (or they don't have them at all).
In addition, it should be taken into account that Germany is part of the EU and that European finances are controlled by the European Central Bank, and accordingly, no country can buy BTC and keep it in its reserves just like that. I am not 100% sure that this is the case, but I know that when it comes to gold reserves, no country within the EU can sell gold without the approval of the ECB.
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I think the dire state of the German economy might prompt a question: Could investing in BTC help improve the German economy?
What dire state?
I think the German government should take advantage of the crypto wave to collect crypto taxes, supplementing the government budget to support the economy.
Well Lucius beat me to it but Germany is one of the few countries in the world where crypto is a legal payment method, you don't pay VAT on acquiring it and you have zero capital taxes for long-term investments, so if you sell your Bitcoin after 1 year you pay zero in tax, legally!!!
It's like the paradise of long terms holders for crypto yet some people think the authorities are anti-bitcoin! Just marvelous what some headlines can do to actual reality!
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I think the dire state of the German economy might prompt a question: Could investing in BTC help improve the German economy?
Let us not live under the illusion of things that BTC cannot do, we are pro bitcoiners, yes, but how many countries actually need BTC right now for anything, the answer is little to none. The German economy is not in a dire state, and certainly better than that of so many countries around the world, how much benefit do you think storing BTC would be to a country like Germany.
Like others before me have said, they are not hostile to BTC, they just sold coins that they held when they thought was right, there is no more to be made of it.
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Well Lucius beat me to it but Germany is one of the few countries in the world where crypto is a legal payment method, you don't pay VAT on acquiring it and you have zero capital taxes for long-term investments, so if you sell your Bitcoin after 1 year you pay zero in tax, legally!!!
It's like the paradise of long terms holders for crypto yet some people think the authorities are anti-bitcoin! Just marvelous what some headlines can do to actual reality!
I remember when that law came into force that many people wrote on BTT that it would be good to move to Germany, and in the meantime Portugal, Croatia, and Slovenia happened with their own laws, so the choice became much bigger. Some would be really surprised if they come to some European countries, pay 0% tax, buy/sell BTC at the post office, order food from the supermarket for BTC and then go get a haircut and pay for your haircut in BTC. (https://www.facebook.com/frizerdjuka/) ;)
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Can you stop with the struggling economy of Germany?
Seriously if the German economy is struggling let's make a head-to-head with your country and see what that leads to, deal???
Common, it would be nice to see how it is when strangers talk about your country!
I see you are from Germany and I was not aware of it. If you are a German citizen you definitely know more than me and if the sources to my statements are not reliable in your sight then they must be. I think I should agree with you now. As I am also unable to find any report suggesting people leaving Germany for economical struggles. I won't be talking more on this topic from now on. Thanks for your statements BTW.
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Holding BTC or not makes no difference to an economy like that of Germany, we are pro bitcoiners, but we have to admit the glaring truth. I don't think the German economy is struggling either, especially when you compare it with that of so so many other countries. They dumped their BTC, and that is that, end of story.
actually the economic situation does not affect btc, but how the government manages all the assets they have, maybe germany sold their btc yesterday to destroy the value of btc but the reality is btc has recovered a little, and look at germany. the economic situation has not changed at all
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I wonder if now, looking at the prices someone will say the truth we all think but we are ashamed of saying.
"If I would only have sold when the Germans did!" ;D
Selling at 65k instead of holding doesn't look so bad right now, isn't it?
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Selling at 65k instead of holding doesn't look so bad right now, isn't it?
Problem is, Germans won't buy back the bitcoin they sold. So I don't think that anyone is jealous of them (I know I am not). ;)