For mass adoption of BTC spending for everyday purchases, one of three things needs to happen:
1. The Fiat system collapses, and with it tax enforcement
2. People buying things with BTC need to laboriously report *every single thing* they buy as a "capital gains event", thereby exposing *not only* their spending history but
*also* their BTC history to prove their basis..., or
3. People buying things with BTC need to lie on their taxes at that Big Checkmark that's like question 4 on the 1040
We all hope for # 1, for sure. But that's not here yet.
# 2 requires people to submit awfully personal information to the IRS.
And # 3 requires people to accept criminal liability.
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#1 doesn't happen without #3.
To a certain extent. But the "speculative attack" scenario (c.f. @npub1hxwm...40pf) doesn't intrinsically require retail spending.
Many consider Saylor's "Strategy" to be a speculative attack. Use BTC as collateral to drive up inflation, basically play off a deflating currency against an inflating currency...
And he's a registered business with the SEC and he's extorted for taxes as well, so as long as the Bitcoin appreciates, he is either forced to sell or continue pumping more fiat into the system. This is not an escape velocity strategy.
He is a giant target that will either be liquidated or a criminal in the future. There is no third option for him.
So again, don't self incriminate to the government and transact with Bitcoin however you feel is appropriate.
Fiat system is designed to collapse, Klaus Schwab's reset awaits, tax enforcement is just a tool for control.