lol I don’t see the state needs to tax it I mean it’s not money they created it’s us just making our own agreements to say we willing to accept payment in these random pieces of code
Sure if you sell it for fiat then you in their system and I can see why tax is applicable here but as long as you’re in crypto you’re effectively bartering different code and influence in diffrent networks which I think isn’t really a tax applicable thing
If I gave you 5 chickens for one goat should that be taxed?
The state charges taxes on bartered transactions. You are supposed to pay taxes on the fair market price of the chicken and the goat. This really puts a damper on bartering because the taxes are usually higher than the advantages people gain from bartering. So, people have to pay the state for the privilege of recycling.