my question is, does it even make sense to bother with foreign bank accounts anymore? We live in a post crypto world now and it seems to me that cold storage on a tiny device is completely impossible to crack down on even if we do have the technology to track every technology.

Also, when it comes to capital gains, how do we calculate actually calculate these kinds of earnings in a fair way? If the currency might drop in value dramatically during the actual transaction its insanely unfair to the citizen in that case. We really need to be able to pay taxes in a new kind of way to keep things fair.