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Lee-Lee

(6,324 posts)

12. Attempts to regulate will be woefully inadequate

Reply to derby378 (Reply #11)

Sat Mar 17, 2018, 11:51 AM

Mar 2018

Crypto is rapidly evolving. Government regulations just can’t keep up fast enough.

It’s taxed sure, in theory, when it’s converted to USD. If you do it via the exchanges that report to the IRS. But anyone can exchange or sell outside those easily.

The whole intent behind the people pushing crypto is to move it where you never have to convert to a real currency to evade government regulation and taxes. They want to create an entirely unregulated economic system with no central authorities- that’s the whole point.

The systems are designed in a way that effective government regulation is essentially impossible.

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16 replies

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Highlight:

Anyone else here experimenting with cryptocurrency? [View all] derby378 Mar 2018 OP

I plan to . . . once my money transfer comes in from the Nigerian Prince DrDan Mar 2018 #1

Are you gonna invest it in Dogecoin? derby378 Mar 2018 #2

Hope you can sell it someone later... Adrahil Mar 2018 #3

I am waiting for the Dutch Tulip market to come back first grantcart Mar 2018 #4

GMTA. I'd be very cautious with this stuff. Funny story though, someone offered on our house with... Hekate Mar 2018 #10

"Reputable" would not be a term I apply to cryptocurrency... Wounded Bear Mar 2018 #5

Crypto is not just volatile, its in many ways an attack on the institution of government Lee-Lee Mar 2018 #6

Except that cryptocurrency is now undergoing government regulation derby378 Mar 2018 #11

Attempts to regulate will be woefully inadequate Lee-Lee Mar 2018 #12

A dollar short and a day late. safeinOhio Mar 2018 #7

Depends on what you mean by surge DFW Mar 2018 #8

I don't deal drugs or humans to the point it is necessary. nt. NCTraveler Mar 2018 #9

+1 sarah FAILIN Mar 2018 #14

Im invested in Litecoin. Took a hit after the announcement Litepay was on hold, apparently... Marengo Mar 2018 #13

Spam deleted by MIR Team rayshow Sep 2019 #15

Post removed Post removed Jan 2020 #16