News That Amazon might accept Bitcoin creates Bitcoin surge to $40K – July 26, 2021,

So Bitcoin is going on another tear, news about Amazon taking Bitcoin as well as a scheduled Federal Reserve meeting has Bitcoin surging. Bitcoin isn’t the only surging crypto asset, Etherum is also surging. The vast marketplace that is Amazon accepting Bitcoin is very interesting from my point of view. With Paypal accepting Bitcoin, we all know eBay, did a little bit of distancing itself from Paypal as accepting Bitcoin, could complicate eBay’s tax situation.

Exchanging physical goods for Bitcoin or any other crypto asset differs from a financial institution accepting Bitcoin. If let’s say the price of Bitcoin surges and Amazon files its taxes, depending on the tax code, Amazon could find itself with a larger tax liability than it otherwise anticipated. If the idea is for Bitcoin to gain in value next to the U.S dollar, it can create a complicated tax liability.

Anything can be money if it’s accepted by the masses, the problem with crypto as a currency, in general, is taxes, taxes are basically a form of burning money, which is why even in a fiat monetary system you can still see the economy deflating. Satoshis allow for the deflation of Bitcoin to be economical, but those slow and increasingly more expensive satoshi transactions, take away Bitcoins’ real-world practical usage as a currency.

All of these fees and taxes would put Amazon in an interesting place, I’m not saying Amazon can’t pull it off, but I sure as hell would lie to see how this all would unfold. As I’ve stated in other posts, the behemoths in finance are now looking at Bitcoin and the governments’ inability to regulate it INTERNALLY, but this also creates a whole different type of beast, because unregulated marketplaces are battlefields for money.

Bitcoin getting involved with Bitcoin is not something that should be ignored, trading crypto for Amazon gift cards is already a very normal thing, as I like to point out with Bitcoin is that if successful in the long term it opens up pandora’s box.

A human in the modern era can genuinely live off of Amazon gift cards meaning that if let’s say the U.S dollar lost its value, Amazon Gift cards for a period of time could actually completely decouple for the U.S dollar. The only thing that would stop that from happening would be big government, but if Amazon was able to function without the U.S dollar, it begs the question, why would Amazon need Bitcoin?

I’ve always been curious about Bitcoin breaking the regulators, this is why I personally see interest rates being forced upward in the future. The Amazon Gift Card for Bitcoins example is only one thing that could happen if Amazon accepts Bitcoin.

The Chinese Communist Party in its ignorance of money being a free market trading vehicle, assumed their digital Yuan could compete with the U.S dollar or Bitcoin, that’s not how this, people love LIQUIDITY and if Bitcoins become more liquid for Amazon merchandise this is indeed a threat to the U.S dollar, which is why I assume they’d tax the hell out of Amazon for taking Bitcoin, which will surely surge in price if this is true.

The Federal Reserve is already near zero percent, inflation is surging and the Republicans have Joe Biden right where they want him. If I were the Fed. now would be a good time to do NOTHING! The Fed has been extremely accommodating to Joe Biden, but the Democrats with some knowledge about fiscal responsibility are reluctant to allow the Joe Biden spending bills to pass.

So for myself personally I believe this Bitcoin surge is mostly due to the possibility that Amazon might accept Bitcoin. Now, to be honest, I think this is a fools rally, because Amazon Web Services(AWS) is a real thing and as I’ve alluded to in the past, companies like Microsoft, Apple, and Amazon, would love it if Bitcoin is able to break the regulators, because that would allow them to build their own DECENTRALIZED crypto-networks.

Bitcoin is in reality a collection of talents, that more entities will begin fighting for if this Bitcoin experiment is successful. People working on any blockchain network could easily find themselves freelancing for Apple, Microsoft, or Amazon, in my opinion, I assume that the larger tech giants are positioning themselves to be major players in the crypto space.

Because the people I talk to in finance, have told me that if crypto is indeed unstoppable, why beat them when you can join them or create your own. Apple, Microsoft, and Amazon as simple examples already have the infrastructure to improve upon most of the flaws that plague cryptocurrencies. Anything the Fed does at this point, points to ECONOMIC deflation which is bad news for crypto in my view. If more money buys fewer goods and services, it’s deflation for the consumer, if interest rates rise, it’s deflation for the consumer because asset prices will rise.

As I’ve been saying for months now, the U.S dollar has decoupled from the U.S dollar, U.S dollars are now better served being invested outside of the United States. If you’re joining the Bitcoin party late, buyer beware!

Amazon posted a crypto job, causing Bitcoin prices to soar | ctvnews.ca

Interesting times ahead