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55905457 No.55905457 [Reply] [Original]

What’s the point of paying taxes? I could just keep my profits in Tether and BTC forever and just never cash out right?

>> No.55905998

Taxation exists to balance inflation. Mo

>> No.55906050
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55906050

>>55905457
Yes exactly. You'll never have to pay sales tax either if you don't buy anything. It's the perfect plan to fuck the tax man.

>> No.55906155

>>55905998
the point of taxes is to curb income inequality

>> No.55906266

>>55905457
One day you'll be able to buy everything you need with crypto

>> No.55906301

>>55905457
You owe capital gains taxes on BTC->Tether transactions.

>> No.55906368

If you never cash out then your crypto are worthless by definition. The entire use case for money is to be spent.

>> No.55906693

>>55906368
You can take a loan against your crypto collateral and pay 0 taxes, but that's for very high NW people only

>> No.55906817

>>55906693
That would only delay it, sooner or later you'd have to pay that loan back

>> No.55906831
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55906831

>>55906817
>Take it out at 60.
>Die at 70
>Letters start showing up the week after

>> No.55906853

You can cash out by converting to Monero and spending through giftcards

>> No.55906908

>>55905998
>>55906155
You’re both wrong about the purpose of taxes