You are viewing a single comment's thread from:
RE: Why Are We Still In A Bear Market!? Let Me Tell You Why...
I think theft, taxation and kyc laws (know your customer) are issues too. With centralized exchanges being targets for theft, and tax laws and kyc hindering the adoption of decentralized exchanges by the general public.
I need to do more research into decentralized exchanges, but, from what I know so far, they are the future! They are more theft, kyc and taxation proof, and when taxation becomes more of a thing in cryptos, people will flock to DEXs! I'm waiting for the binace DEX, maybe that will cause a mass change since most people trust CZ very much... most DEXs atm have 0 volume in that, no liquidity, nothing, i'm sure binance DEX will fix this!
Have you ever used a DEX?
Actually, unless people start flocking to privacy oriented coins I think DEX's are more subject to taxation and public scrutiny. They do solve a host of other problems like someone stealing millions of dollars of ETH from places like Cryptopia.
Unfortunately, the way the US tax regulations are written right now crypto to crypto trading or mining coins is a taxable event. This is an almost intractable accounting burden for someone of my age and intellectual abilities.
So with that in mind my business income comes purely from software engineering, blogging and creative endeavors. I might have tried a DEX once or twice but I didn't inhale, LOL.
There are no taxes in my country thank god! And if they ever happen to create taxes for cryptos I will either not pay them, keeping everything in crypto, or change country... the nomad way :P