If I am getting this right, if I invest in a shitcoin, it moons 100x and I sell for bitcoin, I have to pay taxes on the 100x surge? This is an outright steal, because when BTC goes down, all the alts go down.
I am rather seeing the whole tax thing as more like an attack on the usage by the Americans.
I am not sure how they will be able to get this played out, but I am really trying to see how it ends up working. There is a lot that would go on this year with the government as I feel some wars would be declared on crypto, but that would be a war they cannot win. For now, the crypto market looks strong and no taxation can scare people off from using it.
