Aaaaaaand the predictions that I made in previous articles have come true. I told you over and over to stay away from Paypal and Coinbase, and here's why.
Both of those evil companies, along with the Twinkletoes Twins, have invested in automated tax program Taxbit. It won't be long before Taxbit is integrated into both of these systems. Trading on COINBASE in the near future will mean fully automated tax deductions for each and every one of your trades. Paypal as well. The US government will declare any crypto transaction a taxable event and take your shit automatically. It's coming.
Fortunately, the ideal of crypto is to be a borderless, permissionless, sovereign currency. You can't be taxed unless you willingly give all of your information to the government. Their only tactic at this point is to scare you into thinking they are more powerful than they are. But when you use Coinbase or Paypal, you are opting your sovereign money into a US regulated structure over all of the other choices you have. That's 100% completely your choice. So you deserve to get taxed for no reason.
For those of us who want to keep our wealth, because 1. the government doesn't take those trading risks with us, and 2. just because we can, there are a wealth of exchanges and retailers to keep your money completely outside of the US. And don't think the US government is the 800 pound gorilla in the room bullying everyone. The exchange SHAPESHIFT just reversed its decision to impose KYC, implementing a DEX to ensure the privacy of its users.
The market is coming to us. Soon, you won't even have to cash out your crypto to fiat to get any good or service you want. (You really don't have to now if you look hard.) The old order of nobles taxing serfs for no reason is OVER. Don't volunteer your information to the government or these shit companies when you don't have to.
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Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
