Quote from: gembitz on August 01, 2019, 07:19:59 PM

Quote from: Unthinkingbit on May 15, 2019, 07:00:07 PM

Taxes on crypto are getting too complicated and dangerous:
https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/

The problems are the following:

1. The tax code for crypto is ambiguous, there is no widely agreed upon way to calculate taxes.
2. When exchanges fail, the trading information is lost, so it can be impossible to calculate trading gains and losses.
3. Accounting fees can be very high for crypto trading, sometimes more than the actual money made.
4. It is possible to owe more in taxes than was actually cashed out.
5. The rules change, and some of those changes are retroactive, so even if taxes are filed correctly today, in future tax collectors can claim that the taxes were not filed correctly and impose arbitrary penalties.

Devcoin is worth very little, but the accounting fees and risks are still high. It's a lot of hassle for little gain.

Because of this, unfortunately, I am going to resign from devcoin, until taxes are simplified or there's a big tax free cryptocoin jurisdiction, which I don't expect to happen for a long time if ever.

I don't want anyone to get in trouble because of something I'm doing or developing. I'll do the accounting for round 94, after that devcoin developers can handle the receiver files however they want.

I'm sorry for leaving. I wish there was another way, but I don't see one.

didn't you know devcoin is based out of portugal? = tax free zone :-D lel n00b!!

Dude been getting ALOT of "pt" ccTLD or URL with pt lately. I mean todays Brazilians back to the Illustrious generation - those we're some ballsy explorers. I wonder if Charlie Lee being from the Ivory Coast has anything to do with us being bound to that location geo-historically. Or uh. Ya know, to a block AWARD we still cannot spend - at least on BTC chain. Maybe we can redeem our own one day and reveal history from a counter-Columbian perspective. Those Portuguese and their weird language/secrets. I know much of their Royal intermarrying and hell - they have the LONGEST fuckin alliance with "England" that I have ever seen continually in action over the years. Bilaterally bound. I thought Columbus chose Castile to get around the Papacy dividing half of the hemisphere for Spain and half for Portugal. Would you let him repair his ships in the Azores if you owned them and he just screwed your treaty? The Azores are the only islands I know on 3 different continental plates, let alone the exile for the last Habsburg Emperor << The last Holy Roman Emperor. And that's your Portuguese chain of history for the day. Sorry my blocks sync slow so I reply to old ass shit sometimes.

https://en.wikipedia.org/wiki/Anglo-Portuguese_Alliance#Modern_times

develCuy I have a suspicion you and I are on the same page. FOUNDER intentions and activities/objectives are often carried out behind the scenes only to be revealed later. So I think that the solution is time and more input from the creators. Otherwise the hell are we doing but creating things that do not physically exist yet proving its worth our time and its possible to continue with even just 1 peer. I think we're doing great.