Crypto & Your Tax Bill
Crypto taxes are not hard.

Crypto & Your Tax Bill

By AlucardLife | cryptoinvesting | 18 Mar 2021


You don't have one.

Questions?

Drilling down:

Crypto, bitcoin especially, is sovereign. That means your country has NO CLAIM TO IT. Moreover, it is not in any way defined by or against any fiat currency. The fact that they can be exchanged for fiat currencies is coincidental at best. You can trade Pokemon cards for fiat as well, albeit in a less liquid market. I don't understand why you would allow your government to impose any tax policy on your bitcoin that wouldn't make sense for your Pokemon cards.

Make no mistake — your tax jurisdiction is taxing your citizenship and proximity to its enforceable violence monopoly, not your crypto. You assume they are taxing your crypto because you, for whatever ignorant reason you have, equate crypto with fiat money. And money, duh durr, gets taxed. Durr huh duh. Because government has a right to take your most liquid store of value just because it's government.

Stop being fuckin stupid. Don't be weak.

Jurisdictions being "nice" to cryptocurrency — places like Portugal and Miami — are dangerous. These "nice" legacy jurisdictions make it seem as though they are bestowing favorable tax conditions on you as a favor. As a result, you end up thanking them for giving you a power they never had. The most they do is help you avoid a fight from useless subhuman fucks and mindless fucking automaton dullards trying to use a system to steal your wealth.

The one good thing about crypto is that I'm not responsible for your ignorance. Just because you choose to get taxed unfairly doesn't mean I have to be, thank God. I have to protect my privacy more because the government may assume eminent domain over what it defines as my property because of your capitulation, but at least it can be done.

I do agree that once you swap your crypto for a fiat, then that government has the right to impose rules (taxes) on that fiat. And I don't agree with this out of some sort of ethereal edict. I only agree because once I exchange for fiat, I am obviously trying to purchase something within the purview of that country. Most likely, I'm in the physical proximity of that country, which means I'm in reach of their violence monopoly. I agree because I'm at a strategic disadvantage, not because government has some sort of decree from God.

For instance, the US is trying to tax NFTs. Many people are mad about it. Why get mad? Just say no. Protect your privacy and don't pay the tax. And since when do I ever own anything in a non-custodial wallet? It's not mine. It never was. It only becomes mine if I can be identified as the owner once it becomes fiat.

If no one complies, then these silly decrees go away. Don't give up your sovereignty based on some arbitrary rule that some idiot just made up.

———

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Gaming - Abyss
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AlucardLife
AlucardLife

The next level.

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