I love the idea of people being able to exchange value freely with anyone from anywhere in the world. This is one of many ideas that interest me in regards to cryptocurrency. But what if governments start to impose consequences for those that choose this medium of exchange, or attempt to outlaw it completely? Would this have a drastic effect on crypto's ability to store value?
I would like to think that like alcohol and prohibition in the United States nearly a century ago that cryptocurrency could survive, and perhaps thrive, despite governments' attempt to control it. But I also worry that if governments start going after exchanges who facilitate conversion into or out of fiat currency it will be difficult for crytpo to be very useful or valuable.
It seems like governments, out of self-preservation interest, will at the very least want to make sure crypto is taxed. As the market cap of crypto continues to increase it seems like it will become an ever bigger target for the possibility of tax revenue.
Can cryptocurrency escape the potential looming target on its back? Please share your thoughts.
this might be a big issue - but is it stoppable??
Have a read to my post about Tax and Crypto
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Will do, thanks!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Upvoted!
Cryptocurrency is the future! I believe there might be some regulations later on.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I hope you are right that it is the future. Let people be free to choose their medium of exchange.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
@greenman81 it has its own perks and cons the main problem it will raise is u cant trevel to other countries with all of ur cryptoes
#upvote
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit