The European Union ordered Thursday that it cryptocurrency companies must
report their European users’ holdings to tax authorities.
The eighth Directive on Administrative Cooperation was previously reported on by CoinDesk, and will have wide-reaching implications including forcing non-EU based companies to have to register with tax entities there.
@freepatriot Explain it to me again you crypto bros, exactly how will the magic coins save you from government overreach when the government just taxes the shit out of it or worse makes it illegal and determines you're a terrorist for using it?
@SunMcNukes @freepatriot lol, they will just shut down the exchanges,you still need to buy/convert, or the person you sell to needs to buy/convert or it's worthless.You could do cold storage and trade in person like drug dealers I suppose, but there's no value unless someone at some time can convert. If the gov wants to shut it down they will and several coins and exchanges have willingly given up clients.
You do you bro, but I suspect that the privacy/pirate coins are a glowie opp...
@SunMcNukes @freepatriot sure, I understand how it works and have been in it long term, but again if someone at some point can't convert it, then it's worthless. You and I could trade slips of paper back and forth and claim they are worth millions, but if we can never convert it to anything else, it's effectively worthless and still only slips of paper...
@SunMcNukes @freepatriot when shit goes sideways who will buy my slips of paper? I have been in crypto long term, but for speculation only. Gold has intrinsic value, but was made illegal to buy sell hold from 1933 to 1974. Gov can shut off OR make coins illegal too. You do you bro, but getting self sufficient out on your own is way more important than slips of paper for what is coming...
And don't worry, I'm also prepared for collapse and considered many scenarios including marauding and raids. Homesteading isn't entirely safe either as the government can Waco you any other day.
And no, they can’t just "shut it off". Try again.
@pokkst @freepatriot @UnpopularOpinion @SunMcNukes
I am becoming more and more convinced that the internet couldn't be invented today. No way would the government allow a new technology that allows anyone to publish information without government oversight. How dangerous it would be!
Cryptocurrency is speech.
As I said before, people help people regardless the tools.