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0 sats \ 0 replies \ @unboiled 14h \ parent \ on: What I *still* cannot understand is the tone-deafness and absolute fantasy... bitcoin
You would still have to record each and every acquisition and disposal (ie every single use of BTC for MoE- time, date, exchange rate, amount in clear tabulated form thank you) in order to be able to demonstrate you have held for at least 12 months prior to disposal. Do you do that?
Yes. Even though I don't need to anymore. It's not as hard as you make it out to be.
As a side note: It's baffling to me that people who are not doing it, and never attempted to do it in earnest, claim steadfastly that it's too hard. It's nothing more than a simple sheet that tracks cost of goods sold. And the only good is sats.
For most people the benefits and security of tax residence far outweigh the costs...
What can I say? Some people like to be shackled. Others don't.
and going into no mans land is not going to be incentive for most people to adopt Bitcoin as their preferred MoE!
There it is again. You seem to imagine me living in a desert, camping (illegally of course) behind sand dunes. Dust swirling around my rusty wash bucket.
But I can't blame you for that. That is the results of years of your upbringing, conditioning and indoctrination. The state is really good at that. If they weren't, they'd falter.
So lawful MoE use of Bitcoin is not available to citizens in the vast majority of global democracies
That is blatantly false. I showed you above how it can be done legally. If you don't want to get locked up by your local mafia, track your cgt and pay up. It's not that hard. I rather enjoy not being locked up, so I've been doing it for years.
If that bit of friction is too much to ask, the imagined burden too much to even try it in earnest, well, then you're still too comfortable to step out of your local fiat maxi bubble.
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