Quote from: Btcwashu on June 14, 2018, 01:39:28 PM

Quote from: 0t3p0t on June 14, 2018, 12:39:56 PM

Quote from: Kakmakr on June 10, 2018, 09:28:05 AM

When you sell your car to someone, there will be a transfer of ownership to you and this will leave a paper trail for the IRS or whatever tax authority. When they audit you or if someone else report you to the tax authorities, you will have to explain your wealth to them and what you used to pay for that.

Governments and tax authorities have full control, no matter what you think. Roll Eyes

I agree. Even in the cryptocurrency world, governments still can implement taxes through our local exchanges and that is why we are paying it passively everytime we convert our cryptocurrency funds into fiat money. Being in a cashless society will still be under controlled by governments and we cannot escape or evade tax generally. Bitcoin will be our best investment or other cryptos while fiat will be good for economic stability so I think having both assets will make sense.

The fiat currency system may be seriously tested over the coming decade and ultimately we may need to find an alternative. Cryptocurrencies are all the rage at the moment and are as much about blockchain as anything else, but there could be an increasing desire for alternative mediums of exchange in the years to come. Keep in mind that fiat money is a relatively young innovation and it's only truly been the norm.

I agree, Fiat currency will have an alternative currency in the future, I see the future will be digitize so that we need digital money also, Bitcoin is one of the choices, It will stand until the very next generation, so it is possibly will dominate the other currencies including fiat. Bitcoin just need to be consider by other countries.