I know a lot of us have been wondering how the US government will react to the rising adoption of crypto around the world. Now it seems we that answer. TAXES!!!!!. Starting Jan.1,2018 the tax man will come knocking on your door to get his cut. I guess since the government can't put crypto back in the bottle, they will tax it to death right along with the people.
If you can't kill it out right, make it unprofitable to invest in.Control it and you can control the people who use it.
So what do you think of the massive taxes being imposed on the crypto community? I would love to hear others opinion on the matter.
Theres always been taxes in the US on crypto. Most people just decided not to report. Thus, you will have a crackdown. I dont think it deters many people from investing because the possible gains are so much greater than traditional stocks and bonds.
How rude! Just dont leave the blockchain. Stay on it. Many ways to cashout. Try BitPay. They have a BitPay VISA card Add Funds via your BitPay BTC wallet. Other similar options.