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Aside from all environment and ethical concerns, can someone elaborate how bitcoin & other crypto affects global economy and especially wealth equality? Since b
by higerordermap 6y ago
Aside from all environment and ethical concerns, can someone elaborate how bitcoin & other crypto affects global economy and especially wealth equality? Since bitcoin transactions are anonymous, what will happen to taxes?
- whitepaint 6y agoIt's not anonymous. Very far from it actually. Let's say you buy BTC on some exchange platform and then you buy something illegal with it from some FBI honeypot. FBI can trace where you get those bitcoins and then they can go to the exchange platform with a warrant (probably they don't need it nowadays) to extract your real identity.
- higerordermap 6y agoBut again what's the effect on taxation?
- ddtaylor 6y agoIf you're looking for an actually anonymous cryptocurrency, see Monero.
- charcircuit 6y agoTaxes wise for the US fiat -> crypto: nothing crypto -> crypto: capital gains crypto -> fiat: capital gains nothing -> crypto: income