The government says crypto has no value but they’re still taxing us…

When you consider what politicians, the SEC, and bankers have to say about crypto, it should be evident that according to them, they have no value and are regarded as a worthless and a useless asset… but they’re still taxing us on crypto. When it comes to value, they probably didn’t understand the ecosystem and use cases of (not shitcoins) crypto.

For someone like me, I did a lot of trading and utilized a lot of different exchanges and wallets (which of course wasn’t a good idea).

I also use a coin tracker and records to keep track of my gains and losses. I started with Koinly, but because I didn’t want to pay for the tax reports, I switched to Crypto.com and their tax tool. I experienced the same problem with both of them. I then discovered that CryptoTaxCalculator was a lot more accurate at recognizing transactions than Koinly.

But seriously though, this just makes government bankers and politicians hypocrites if they make people pay taxes on crypto if they consider it a useless asset and that they’ll receive a part of their paycheck from taxes collected from crypto.

To have intrinsic value, something does not have to be a “physical asset” like gold or have “official” government support or acknowledgment. From a philosophical and practical standpoint, the whole argument that it has no intrinsic worth is a ridiculous slippery slope.