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One problem I don't see anyone talking about is that there's likely a taxable event nearly every time you want to get money out of this ecosystem. With MobileCo
by twostorytower 5y ago
One problem I don't see anyone talking about is that there's likely a taxable event nearly every time you want to get money out of this ecosystem. With MobileCoin so volatile, you may earn a 10%...30%...taxable gain from the time you put it in and take it out. It's going to be a bit of a pain and the ass for a mobile payment system.
- qqii 5y agoTaxable events occur off platform at the exchange. As long as you're in crypto only gift allowance applies.
- anaganisk 5y agoThis is a no go in some countries like India which is on the verge of banning crypto.
- twostorytower 5y agoI said in and out of the ecosystem. Not talking about P2P transfers.