what changed was the like for like exemption

it's how mega millionaires avoided capital gains for decades

oh you got a nice 10 mil ocean front mansion, I got a picasso let's TRADE

well now 1031 is gone so the I got 1 mil in btc for 1 mil in eth is gone

you move 1 mil in btc into 1 mil in eth, the irs wants 20% NOW on the gains

so you got in btc at mining costs, gear and elect and time, you made maybe millions

you don't cash it out, but merely trade, and now that trade is taxable and you got no cash

all I can say is BINANCE

coinbase will now be crushed by this rule

it's one thing to pay on exit money, but when you have to pay gains on trades, no way

so I guess coinbase is okay to buy coin in, then you move to gdax then you move to binance or whatever and do the trades outside the usa

so now your gains is in china or korea or where ever

you do trades in gdax they are taxable

that's how I see it

you never do anything now on gdax

it will eventually end up with the irs

so the question becomes how do you exit out of the foreign exchanges into fiat

I think the centra card is nice exit to spend gains

but if you plan on using coinbase for exits or trades the irs has you big time

so coinbase will never go public now, 1031 killed the future of coinbase