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Bitcoin is a commodity of value, but WoW gold is not? Subjectively applying the law. I don't understand how you can't see this. Law enforcement and governments

Bitcoin is a commodity of value, but WoW gold is not? Subjectively applying the law. I don't understand how you can't see this. Law enforcement and governments don't have unlimited resources. Frivolous crimes should not be pursued as vigorously as crimes of violence and physical/financial/corporate victimhood. Equifax executives are chilling in their house right now. Big Vern is wanted by the feds for loss of fictional assets. Come on, apply the law equally. 53% of prisoners are there for possession of marijuana. Surely you don't want your tax money spent on this victimless crime? Well, it currently is being spent that way, while many murders go uninvestigated.

JumpCrisscross 9y ago
> Bitcoin is a commodity of value, but WoW gold is not? Subjectively applying the law. They're both commodities. People get away with not reporting WoW gold because the mean holder probably holds less than the mean holder of Bitcoin. As you observe, law enforcement resources are limited. That said, counting on flying under the radar is a horrible tax policy. (It does not help that there is a (a) history of successful prosecutions surrounding Bitcoin, (b) a vocal group of Bitcoin enthusiasts arguing they aren't subject to tax and (c) a veritable black market around Bitcoin.) > Equifax executives are chilling in their house right now. Big Vern is wanted by the feds for loss of fictional assets Due process, my friend. The Equifax executives are being investigated; they have not yet been found guilty or even charged. One might argue they should be. But that's a discussion about what the law should be, not what it is. (That said, the insider trading charges look promising.) As others have repeatedly mentioned, any delineation between "fictional" and "non-fictional" assets is itself a fiction. Arguing that something shouldn't be prosecuted because it isn't as illegal as murder is ridiculous. Better strategy: understand it's illegal, follow the law and organize to lobby to amend it. Disclaimer: I am not a lawyer nor a certified accountant. This is not tax, accounting, legal or any other sort of advice.
gnaritas 9y ago
Bitcoin is a 63 billion dollar market, you are being dishonest when you call these things frivolous crimes; people have lost their life savings playing in crypto, there's nothing frivolous about it. If you can't see the diffence between WoW gold and Bitcoin, then I suggest you look more into how many people have been financially devastated and robbed in each, because that's why the government cares more about crypto than WoW gold. You're using the word subjectively incorrectly; the word you seek is selectively. Bitcoin assets are not fictional, they translate to real dollars, Big Vern stole tens of millions of dollars of other people's assets. You are minimizing this for some reason that you don't make clear. Equifax didn't commit a crime, having lax security is not illegal, getting hacked is not illegal. They may be been unethical about not disclosing shit soon enough, but there's no obvious crime to charge anyone with, yet; that may change after an investigation. Big Vern however stole people's money, that's a clear crime.

JumpCrisscross 9y ago

> Bitcoin is a commodity of value, but WoW gold is not? Subjectively applying the law. They're both commodities. People get away with not reporting WoW gold because the mean holder probably holds less than the mean holder of Bitcoin. As you observe, law enforcement resources are limited. That said, counting on flying under the radar is a horrible tax policy. (It does not help that there is a (a) history of successful prosecutions surrounding Bitcoin, (b) a vocal group of Bitcoin enthusiasts arguing they aren't subject to tax and (c) a veritable black market around Bitcoin.) > Equifax executives are chilling in their house right now. Big Vern is wanted by the feds for loss of fictional assets Due process, my friend. The Equifax executives are being investigated; they have not yet been found guilty or even charged. One might argue they should be. But that's a discussion about what the law should be, not what it is. (That said, the insider trading charges look promising.) As others have repeatedly mentioned, any delineation between "fictional" and "non-fictional" assets is itself a fiction. Arguing that something shouldn't be prosecuted because it isn't as illegal as murder is ridiculous. Better strategy: understand it's illegal, follow the law and organize to lobby to amend it. Disclaimer: I am not a lawyer nor a certified accountant. This is not tax, accounting, legal or any other sort of advice.

gnaritas 9y ago

Bitcoin is a 63 billion dollar market, you are being dishonest when you call these things frivolous crimes; people have lost their life savings playing in crypto, there's nothing frivolous about it. If you can't see the diffence between WoW gold and Bitcoin, then I suggest you look more into how many people have been financially devastated and robbed in each, because that's why the government cares more about crypto than WoW gold. You're using the word subjectively incorrectly; the word you seek is selectively. Bitcoin assets are not fictional, they translate to real dollars, Big Vern stole tens of millions of dollars of other people's assets. You are minimizing this for some reason that you don't make clear. Equifax didn't commit a crime, having lax security is not illegal, getting hacked is not illegal. They may be been unethical about not disclosing shit soon enough, but there's no obvious crime to charge anyone with, yet; that may change after an investigation. Big Vern however stole people's money, that's a clear crime.