Anyway, what are your thoughts on buying PPBTC ? I believe it's fully degenerate, mostly due to the fact you cannot transfer PPBTC out to your own custody.
I have seen reports that PayPal is planning to introduce these features next year and we have already seen reports about them purchase huge amounts of coins directly from the miners.
The only way I'm rationalizing it right now, is whatever PPBTC I'm scooping, aren't going to be sold for at least 365 days after they are purchased, so I'm at least being taxed at long-term capital gains.
I am yet to purchase using PayPal as i am not comfortable with the current process as you cannot hold the coins and when they start allowing to withdraw the coins then i might use the platform. When filing the tax all the other incomes can be termed as long term capital gains and i did file like that in the past when i profited from the last rally.