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Most cryptocurrency users are chasing their own moon. I agree that it's not practical to do book keeping if you want to buy real world goods with crypto (you ca
by tehlike 9y ago
Most cryptocurrency users are chasing their own moon.
I agree that it's not practical to do book keeping if you want to buy real world goods with crypto (you cannot keep calculating capital gains everytime you buy a coffee with it), but that's not the common use today _anyway_.
This is also the exact reason why it's taxed the way its taxed. There's no way government is gonna let you build wealth without paying taxes.
Private key is surely a database password that lets you do certain operations, but that exact feature make it an asset. As long as you can buy "things" that has value with it, it's a capital you need to pay taxes on.
It's hard, but it's what it is.
- Cyberdog 9y agoI personally think cryptocurrency is more interesting as a currency than as an investment. I want "Satoshi's vision" to catch on. But you're right, the reality is that many are using it as an investment instead, so now, I suppose, it's being regulated like one. Unfortunately, at the same time that we solve some of the problems making usage as a currency impractical (even if one of those solutions is just Bitcoin Core becoming an outdated relic), regulations treating it as an investment will hamper its adoption. Oh well. I have faith the tech will win in the end.
- tehlike 9y agoI am all for parts of satoshis vision. I wish it was somehow universally accepted, so i could give my dollars and get them burned (legally, somehow), and can keep transacting with my digital coin.