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Response to derby378 (Reply #11)

Sat Mar 17, 2018, 11:51 AM

12. Attempts to regulate will be woefully inadequate

 

Crypto is rapidly evolving. Government regulations just canít keep up fast enough.

Itís taxed sure, in theory, when itís 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- thatís the whole point.

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

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