German economy struggles while selling crypto

[MrSpasybo]

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.

[Lucius]

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.

[Stompix]

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!

[Z-tight]

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.

[Lucius]

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.

[Faisal2202]

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.

[MUGNIA]

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

[Stompix]

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!" 
Selling at 65k instead of holding doesn't look so bad right now, isn't it?

[Rikafip]

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).