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> because every transaction costs money. Based on my observations (ETH gas) every transaction costs a ton of money and in a lot of jurisdictions you have to tr
by donmcronald 5y ago
> because every transaction costs money.
Based on my observations (ETH gas) every transaction costs a ton of money and in a lot of jurisdictions you have to track capital gains / losses based on fair market values whenever you participate in a transaction.
I’m sure it’s easy for Cloudflare and other big companies to play around with crypto protocols because they can send the complicated financial end of it to their accounting department. For normal people like me it’s insanely difficult to deal with.
- k__ 5y agoI read a few pieces on tax advise and they all said crypto currencies aren't considered money in the sense of taxes. Which is kinda strange, but seems to be the downside of a government not allowing crypto to be legal tender.