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RE: Cryptocurrencies, Government and Tax Collection. Let's Talk.

in #cryptocurrency7 years ago (edited)

If crypto users think they are going to be able to avoid taxes, they have another thing coming.

Big govt does not look kindly on tax evasion, period. Even state and local govts are getting in the act.

Look at how Amazon caved in the US when the states threatened to not allow them to operate unless they collected and disbursed state sales taxes. And....this is only going to get worse as govts on all levels start to face shortfalls and are scrambling to find new sources of revenue!!!

Trade crypto for crypto all you want. All the govt has to do is hit you at the bottleneck when you try to convert them into actual fiat currency.

If you think you will be able to bypass taxes by spending your crypto with retailers, well you might be able to get away with that at your local coffee shop or boutique retailer, but the major retailers are not going to risk the wrath of the IRS (or what ever taxing agency your country has) just to accept crypto.

You might as well just pay your taxes on your gains rather than risk going to jail and becoming someone's biatch!

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I for one do not want to go to jail for something stupid like not paying taxes. Cryptos going to the moon is like getting free money anyway.

Suck it up, pay the taxes, enjoy the rest of your free money, don't get prison-raped. Just that simple.

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