Yesterday I got messages and calls from some of my friends. Every time there is a big push-up on the crypto markets as it has happened this week, Is like everyone who knows I am into crypto remembers me. It is ok, but honestly, it is kind of sad they only remember because of the news :)
In the afternoon, I was with an old friend who was interested in learning more about this world. I started talking to him about freedom, innovation, decentralization, and so on, even before mentioning the markets at all. At a certain point, he asked about the fiscal implications of owning crypto and how governments are releasing new policies to make everyone pay taxes when they get their crypto assets increased in value or sell them. I decided to explain to him how that is robbery with this analogy.
Imagine today, while we talk here I give you a plastic coin and tell you to keep it as it will change how the whole world deals with money in a few years. Even you think it is worthless I tell you to trust me and read about the impressive technology behind this plastic coin. You trust me and keep it.
I share with you some sites with info about this crazy innovative project and you get more and more interested. All of a sudden you find some kind of market where other users trade these plastic coins giving them value. It is kind of hard to believe but some people pay $1 to get one of the coins as the one I gave you.
You tell your relatives about this experiment with plastic money and they laugh, tell you it is a scam, they tell you are crazy and the friend who gave it to you even more. You just forget about telling them anything else and go your own way learning. After a few years, you get involved in one of these crazy projects and get paid some more plastic points and now the price is $10.
Years go by and some media discovers this "stupid" monetary system and writes an article about it when it reaches $100 per plastic coin. The world starts warning about this crazy scam, and even governments warn citizens to stay away from it.
It is time to pay your yearly taxes and if you happen to have more than $1000 in coins, you think you should add that to your tax declaration but there are no regulations as governments say this is worthless and has no value at all.
Years go by, the price reaches more than $20k per coin and all of a sudden governments change their mind, saying it has value although they are the monetary authority and have never given it value now it is time for you to pay taxes for it.
They do not believe in it, (As the EU Central Bank stated a few days ago). It is a scam and worthless but the banking system is all into it and governments require you to pay taxes,,,,,ON PLASTIC COIN!!!
See the robbery, they just jump into the wagon whenever they can take the profit out of it, no matter if they believe or not if they told you were crazy a few years ago, if they don't even believe if it kills its policies.....they CHARGE YOU.
You can follow their rules or just keep your coins in your house and move along. it is your choice but a five-year-old would know exactly what to do and who are the ones abussing the system and scamming.