I wrote an article on this yesterday (taxing Bitcoin Cash), about the potential scenarios. It is going to be tricky and there is much uncertainty, but there are only so many ways to slice the apple per se, and I have addressed quite a few of them.
I agree, I think its going to be an uphill battle for them(IRS). Taxation is the antithesis of Bitcoin. That said, I don't the bankers are just gonna sit back and get run over. They are gonna have their IRS dogs doing all kinds of horrendous things before bitcoin actually prevails. Many more Charlie's and Ross's will come - this is a big reason we are seeing the jump in privacy coins...because those same bankers want to shelter their wealth from taxation and the dying petro-dollar.
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Taxation is going to be tricky for crypto. I can't wait to see what IRS rules on the bitcoin cash airdrop....
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I wrote an article on this yesterday (taxing Bitcoin Cash), about the potential scenarios. It is going to be tricky and there is much uncertainty, but there are only so many ways to slice the apple per se, and I have addressed quite a few of them.
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I agree, I think its going to be an uphill battle for them(IRS). Taxation is the antithesis of Bitcoin. That said, I don't the bankers are just gonna sit back and get run over. They are gonna have their IRS dogs doing all kinds of horrendous things before bitcoin actually prevails. Many more Charlie's and Ross's will come - this is a big reason we are seeing the jump in privacy coins...because those same bankers want to shelter their wealth from taxation and the dying petro-dollar.
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This is a helpful article. Thanks!
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