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> Otherwise they'd be unable to tell how many $ you paid to acquire the Bitcoin you just spent. This is a massive reconciliation and record keeping overhead p
by jkepler 6y ago
> Otherwise they'd be unable to tell how many $ you paid to acquire the Bitcoin you just spent.
This is a massive reconciliation and record keeping overhead problem if you live in a jurisdiction that taxes crypto transactions for capital gains/losses. Michael Saylor said just recently in his interview with What Bitcoin Did that MicroStrategy plans to only use bitcoin as a treasury reserve asset and not as a transactional currency precisely because of the record keeping overhead.