https://www.thestreet.com/investing/biden-government-coming-to-regulate-your-bitcoin
Well, anyone who didn’t see this coming as soon as bitcoin was invented isn’t very smart. Of course the government is going to try to regulate it! Bitcoin was invented as a peer-to-peer transaction able to go from one person to another without involving a bank. It’s money! It’s worth $40,000 per bitcoin at the moment. I bought 10,000 when they were just $1.00 back in 2011. You do the math. And that doesn’t include my four sessions of selling high, and buying again when it bottomed out. Can you see why the government would want to regulate it?
What I don’t see is how they are going to. Bitcoin is capped to only have 21 Milliion ever produced. How would you regulate the BlockChain? I don’t know. How would you stop you and I from doing a transactioni? Again, I don’t know.
Tax it? Yes, I can see getting taxed on the profits made. I had my first Sell-High/Buy-Low transaction in 2019 and I nearly had a heart attack when my CPA told me what the Capital Gains tax bill was going to be. Fuck Me! Is all I can say on that one. But you know what? I still have bundles left over, so I’m happy to pay my fair share. I just wish I could say what programs I want my tax money to go to. I’d prefer my dollars not go to some stupid pet project of a representative or Senator. Put it towards the homeless, schools, fixing the bridges, and I’d be happy.
But yea, how would you regulate bitcoin? I guess we will see in the coming years as BTC and other cryptos take hold in the economy.
A Little Bit of This and That 