Days of Future Past
Considering the massive changes around us, it is difficult to anticipate the future. By being a natural pessimist, I wonder: "What is the worst that can happen?"
In theory, I could be accused of treachery towards bankers and government. Seized and shot for my crimes.
I'm thinking that is the worst case. I doubt it is likely, but at least I've considered it.
The tax horizon is unclear. How governments treat the value changes within the Steem community will be interesting to observe.
You may want to keep records of everything you do. You may want to wait and see. You may want to bunker down with food, water, guns and ammo.
Regardless, governments will eventually track us down. The fight is coming.
I am going to relax, get a cool drink and allow the serious folk the opportunity to fight it out and determine my fate.
Very good article of truth that I liked a lot of successes and thanks for the story
amen! Theres more to life than finances, enjoy the summer while it lasts :)
I think my government is taking a wait and see approach. They'll probably try to deal with this as a capital gains tax, which is triggered when you move value out of the STEEM. This is generally how tax works for other assets: CGT when it the assets is converted.
The situation with STEEM is a little more subtle; would transfers between STEEM, SP or SBD trigger a capital gains tax? Dunno. And, unlike other cryptos there is a labour element that goes into creating value on STEEM. I wonder how I could claim expenses for that to offset the CGT? Claim a grammarly subscription? Research fees?
Either way, if STEEM goes huge, then the blockchain is public. Once a govt associates your user account with a tax-payer-id then they can very easily figure out how much that citizen made on STEEM and send a tax demand automatically.
Agreed, we can and should simply enjoy the basic joys of life without being too bothered. The human society is a rather toxic construct, but it needn't dictate our contentment.
Like you mentioned, it would be wise to have some basic supplies and be prepared for anything, but constantly dwelling on negative possibilities is bad for one's health!