01-26-2022, 12:21 PM
The government says crypto has no value but they’re still taxing us…
<!-- SC_OFF --><div class="md"><p>When you consider what politicians, the SEC, and bankers have to say about crypto, it should be evident that according to them, they have no value and are regarded as a worthless and a useless asset… but they’re still taxing us on crypto. When it comes to value, they probably didn't understand the ecosystem and use cases of (not shitcoins) crypto.</p> <p>For someone like me, I did a lot of trading and utilized a lot of different exchanges and wallets (which of course wasn’t a good idea).</p> <p>I also use a coin tracker and records to keep track of my gains and losses. I started with <a href="https://koinly.io/?r=1">Koinly</a>, but because I didn't want to pay for the tax reports, I switched to <a href="https://crypto.com/?r=1">Crypto.com</a> and their tax tool. I experienced the same problem with both of them. I then discovered that <a href="http://cryptotaxcalculator.io/?r=1">CryptoTaxCalculator</a> was a lot more accurate at recognizing transactions than Koinly.</p> <p>But seriously though, this just makes government bankers and politicians hypocrites if they make people pay taxes on crypto if they consider it a useless asset and that they'll receive a part of their paycheck from taxes collected from crypto. </p> <p>To have intrinsic value, something does not have to be a "physical asset" like gold or have "official" government support or acknowledgment. From a philosophical and practical standpoint, the whole argument that it has no intrinsic worth is a ridiculous slippery slope.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CrispOriginality"> /u/CrispOriginality </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/scze4d/the_government_says_crypto_has_no_value_but/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/scze4d/the_government_says_crypto_has_no_value_but/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>When you consider what politicians, the SEC, and bankers have to say about crypto, it should be evident that according to them, they have no value and are regarded as a worthless and a useless asset… but they’re still taxing us on crypto. When it comes to value, they probably didn't understand the ecosystem and use cases of (not shitcoins) crypto.</p> <p>For someone like me, I did a lot of trading and utilized a lot of different exchanges and wallets (which of course wasn’t a good idea).</p> <p>I also use a coin tracker and records to keep track of my gains and losses. I started with <a href="https://koinly.io/?r=1">Koinly</a>, but because I didn't want to pay for the tax reports, I switched to <a href="https://crypto.com/?r=1">Crypto.com</a> and their tax tool. I experienced the same problem with both of them. I then discovered that <a href="http://cryptotaxcalculator.io/?r=1">CryptoTaxCalculator</a> was a lot more accurate at recognizing transactions than Koinly.</p> <p>But seriously though, this just makes government bankers and politicians hypocrites if they make people pay taxes on crypto if they consider it a useless asset and that they'll receive a part of their paycheck from taxes collected from crypto. </p> <p>To have intrinsic value, something does not have to be a "physical asset" like gold or have "official" government support or acknowledgment. From a philosophical and practical standpoint, the whole argument that it has no intrinsic worth is a ridiculous slippery slope.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CrispOriginality"> /u/CrispOriginality </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/scze4d/the_government_says_crypto_has_no_value_but/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/scze4d/the_government_says_crypto_has_no_value_but/">[comments]</a></span>Kind Regards R