re: DOJ & IRS going after users of Cryptocurrency. They want their "fair share"!

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Those who transact with cryptocurrency must meet their tax obligations like any other taxpayer.”

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you got a problem with expecting drug dealers and pot growers to pay taxes?

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Bidens America... people "wanted" him, and get what they asked for. Lots of young people love them some crypto

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Yeah I posted this link on the cryptocurrency forum I frequent for the idiot Trump haters there. They are silent. I wonder why?

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You don’t agree

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it's not that i don't agree as much as i'm saying it's really not as different as fiats in terms of manipulation at this point, and there is a lot fewer reasons to trust cryptos over solid fiat currencies

i think an issue you have is thinking i'm celebrating fiats when i'm not. i'm much more saying cryptos have been somewhat ruined longterm

it's an amazing tech with lots of potential that became way too popular and commoditized too early and it destroyed the ultimate potential of the tech. that's a common theme with tech that's beyond what society is ready for, especially if some aspect of the potential of the tech can be sold as a commodity

I'm always curious, to what extent have rogue countries etc been able to bypass economic sanctions by using crypto? Has it been a major effective way to bypass, or has the success been embellished? I don't love sanctions, but I prefer them to be effective so that more extreme methods, like invasions and nukes, don't have to be used instead.

I'm not so bullish that this global decentralization from America trend = peace and prosperity. In fact I think it'll be the exact opposite for most, especially Americans. War, poverty, and more instability for people and countries that aren't used to it. But it looks like it's rolling in that direction even faster now, and instead of fearing it, we'll be cheering it on via crypto price appreciation.

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Want people to get ahead? Stop taking their money.

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This is an argument against all federal taxes, not just capital gains. I think income taxes should be much lower, including capital gains, but to completely eliminate the federal income tax, with nothing to take its place is a radical and foolish idea. We would be speaking Chinese five years later.

That is a major driving force of Biden wanting to raise capital gains. They know we made a lot of money and they need to keep us under their heel

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I'm not so bullish that this global decentralization from America trend = peace and prosperity. In fact I think it'll be the exact opposite for most, especially Americans. War, poverty, and more instability for people and countries that aren't used to it. But it looks like it's rolling in that direction even faster now, and instead of fearing it, we'll be cheering it on via crypto price appreciation.

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So this is the part of the crypto story that I'm extremely interested in. You should go listen to Mike Green on this subject. He's in the camp that all the bad actors are the ultimate benefactors of crypto and a new monetary system has only come to fruition via hot war and the de-dollarization will lead to a highly volatile world. Typically the bulls have accepted that the US government is just as bad of an actor as the CCP, Russians, Iranians etc...

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It isn’t something they can stop.

If they start cracking down on our ability to use exchanges, just use a decentralized exchange like Uniswap that can’t be targeted.

They can’t stop this thing.

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You gonna deposit all the cash you make into a decentralized exchange like Uniswap?

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This is an argument against all federal taxes

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They all suck.

But taxing people on crypto is ridiculous. The government does not need more money. They need to spend less money.

The government wants to control crypto. frick em. Not everything needs to be taxed and overly regulated.

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i think an issue you have is thinking i'm celebrating fiats when i'm not. i'm much more saying cryptos have been somewhat ruined longterm

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I don’t think you are celebrating fiats. I think we share a lot of the same concerns about fiat but we definitely diverge on cryptos because I think the idea that the technology has been compromised by speculators or that it has similar problems to fiat to be mostly nonsense. I couldn’t even hasten a guess what the M2 money supply is going to look like in 20 years. I can tell you exactly how much Bitcoin has been mined and will be mined at any point in the future. I can also rest easy knowing this number or Bitcoin in circulation is capped so I don’t risk debasement via inflation. Additionally, I can tell you exactly how much custodians hold, thanks to the transparency of the blockchain. In my opinion, this system fosters more trust than fiat could ever dream of.

What you are being overly critical of is the short term role of speculation during this price discovery phase of this young asset. Sure, there are long and short liquidations regularly right now and whales can move markets by taking advantage of fools buying on margin, but volatility is decreasing with time and I’m comfortable saying we are simply on the tail end of hypermonetization and price discovery due to accelerating adoption.

All of the variables that dictate asset price will eventually converge down to two: Metcalfe’s Law and value of the underlying fiat currency. The rest of the price fluctuations are just temporary noise created by speculators that lose more and more of their influence as adoption increases and their share of the market grows smaller and as those entering in the market don’t succumb to their whalish games because we believe this technology is the answer to a lot of terrible monetary policy.