/biz/ - Business & Finance

>>8780018
>Crypto-crypto trades trigger capital gains

Not a common sense notion, frankly.

If I sell amazon and buy apple stock I understand the fiat conversion because there is a security to fiat trade, but in crypto, there is no such conversion.

It is only because of accounting methods (not made explicit until September of 2017) that "create" gains and losses.

Its obvious there were no bad-faith intentions to hide capital gains or acquired wealth. Just an understanding based on common sense in the absence of substantive and explicit guidance.

These people are victims of unjust and unfair taxation which will result in wrecked financial prospects for people who would otherwise be building wealth and eventually, paying taxes on fiat invested and spent in local economies.

Instead, the government is essentially stealing someone's wealth, and creating public debtors. This robs the community and destroys public trust.

But since these are minority cases, in an economic arena which is viewed with little sympathy by the public, no one is going to care. Its another example of the system destroying people financially. People ITT are perfect examples of this.

Ultimately this model will be used to effectively kill crypto without explicitly banning it or making it illegal, around the world.

Crypto people are a tiny, tiny minority of the world economic picture and by divide and conquer they will destroy it. We have no voice, no advocacy, no one to argue our position, and that is why I am out of crypto, after paying these ridiculous taxes. Too many assholes, not enough revolutionaries. The big money and government aren't going to allow it and we are not united.

Crypto is fucking dead. It will bleed out forever and flatline, Co-opted by governments and corporations.

You guys might as well start researching which companies are going to profit from blockchain tech. The list will start with banks, financial firms, tech, and so on...