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Replying to Avatar bitcoiner7 nym

This is an important and complicated issue.

I struggle with this a bit as well.

As it stands today, in most countries, each time you sell Bitcoin, also when you buy anything for Bitcoin or even zap someone, it is a taxable event.

At least that's my understanding.

This means our options are:

1. Ignore it, violate the tax code and hope they will not catch us or will not chase very small amounts, try to buy non KYC. But this is risky.

2. Attempt to report tax properly for every transaction. But this is impossible from a practical perspective.

3. Do not sell or spend Bitcoin at all. Until the government declares it as a non-taxable event, if ever. But then what about adoption?

What other better options do you see?

I'd like to be wrong on this.

But, like Saylor said, the moment they declared Bitcoin a commodity, it meant it cannot be "money" from the government or tax perspective. It can be a treasury reserve asset, a digital gold, great, but not money...

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boston wine 2y ago

Solution 🤙

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