Why isn't the dollar taxed when it is spent (to account for the unrealized gains) when the value of the dollar has risen? Why can't one take tax deductions on the dollar when the value at the point of purchase is less? This would be great because the dollar has lost lots of value and the IRS would go bankrupt. With Bitcoin, one has to account for the gains at the time that it's spent. We need to see Bitcoin like cash and get rid of the regulatory nightmare and then people would be using Bitcoin as cash. Where can one get a Bitcoin Debit card? I had one from Coinbase and they seem to have discontinued them.

Study Kaspa.

Ok Jack but I'm not paying a CPA $2000 in April just figure out the Capital Gains taxes .

It's okay. He doesn't understand money and how it scales in layers. So, it's fine. Lightning and its derivatives is how it will be used for everyday payments. Even on the gold standard, nobody used bullion for everyday payments.

Jack should remember that all value is subjective. In other words ...

The degree an asset is used as a medium of exchange is not the sole determinant of relevance or success, or value.

For instance, if just used as a store of value, bitcoin may be failure to a payments company (like Block) and its leader (like Jack), which thrives on transaction fees. But it is 100% relevant to the saver or investor.

Isn’t gold only used as a store of value? Gold isn’t irrelevant

Preserving the value of my income is relevant.