Don't know why there has to be some push to 'legally' recognize any means of exchange. That's all Bitcoin is! If two people decide to do business with Bitcoin as the payment method, our Constitution will be protecting both sides to the contract signed.. Signed contracts make us happy, as in our pursuit of happiness!!! You could sign the contract using rocks, and it would be legal, with Constitutional protection.
Discussion
If we want the elimination of cgt, which has a legal status, the legal status of bitcoin also has to change. That's all I'm saying. We can certainly use bitcoin as a medium of exchange and hope the govt doesn't ever come after us.
Another possibility is that the current tax system gets abolished, and the whole cgt question becomes irrelevant.
I think this is exactly what Trump is doing.. No tax on tips or social security is the beginning. Trumps' setting up another financial system based on External Revenue.. Tariffs and other money coming in from oil leasing & selling. He's talking about no taxes on people earning $200,000 or less.. It's happening right now.. This is a 3rd industrial revolution. Technology, Bitcoin will be the central currency. Gold. The IRS will be gone. Who needs the IRS if taxes are no longer being collected?
I hope this is what happens. I'm 55 years old and have been paying taxes since I was 16. It's hard to imagine that changing, but I'd love to have the extra cash to buy more bitcoin.
You got a long way to go... You and your kids'll spend years living in a country that doesn't forcibly take wealth from you. I truly believe this is the way it's going. Trumps' spoken about this already, that this is the goal.. Get rid of the Internal Revenue Service which means both the IRS & the Federal Reserve System, and in ther place is the External Revenue Service.
I really want to believe this is where we end up. It would be incredible if he pulls it off.