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Leister

๐Ÿ‘ค Speaker
1620 total appearances

Appearances Over Time

Podcast Appearances

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

Other than that, no, because if you don't do that, you're not going to get the adoption that you hope.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

Think about it.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

If they don't get the adoption that they hope, or it all goes offshore and under the, under the radar,

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

You're banking on revenue you're not going to get.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

So it actually behooves them to be smarter about this and simply say, if it cashes out to fiat, we're going to nail you to the wall.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

That discourages people from cashing out to fiat.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

If we discourage people from cashing out to fiat, it actually helps preserve the value of it and increase the value of it over time.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

But we know what the game is.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

The game is that the IRS wants to take every last dollar they can get from you.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

And in a world where they're increasing the adoption for cryptocurrency, they expect that people are going to toss their money over there to duck taxes.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

That's why this came up and that's why it's going to be a problem if something's not done.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

Speaking about something done, Washington, so that same President Donald Trump, Senator Lumis, Cynthia Lumis, presented a bill called the Mine in America Act and what they're trying to do.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

is bring mining back to the United States.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

At one point it was here to a limited degree.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

And then most of it's offshore now, even if you buy the hardware and have it here, the hardware is manufactured in China.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

And so they're trying to bring that here, set up manufacturing here, starting from the actual equipment that goes into the mining machines to better dominate the mining scape.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

What does that do?

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

Well, if you can do that for Bitcoin, it adds control over the mining of the remaining supply that's there.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

it's going to be high price.

Crypto Talk Radio: Basic Cryptonomics
IRS Issues Guidance On 1099-DA Crypto Reporting; Bitcoin Under Threat

These miners are going to be high price because of the cost of staff and regulations, et cetera.