Tuesday, September 12, 2017

The easiest way to tax cryptocurrency activity

Government needs to require a universal, multi currency smart cash device.  Then government taxes activities, as usual, collecting the tax in the coinage used.  Government keeps its monopoly on secure device, guaranteeing its citizens the fair sandbox.

All the issues we see in bitcoin tax involve the conversion to a monopoly tax dollar.  The sandbox ios autotraded, government holds and spends reserves in the sandbox.  If government insures the honest smart card, then it provides a limited guarantee in the sandbox and it need not readily convert to and from the central bank standard money.  Its oney can always ride the even money bet, regardless of currency.

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