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Is Crypto Finally Dead?
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this post was submitted on 19 Jun 2023
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Technology
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In the US each time crypto is traded it needs to be reported.
I got free crypto from Coinbase. Then sent it to a wallet, then sold it. So each transaction needed to be reported. It’s too troublesome to be worth it.
Also, if I buy crypto, they have a week hold before I can move it. My idea was to buy crypto in country A and sell it in country B to quickly transfer money between the two countries I live in. Also it would help me beat the bank fees.
But the 7 day hold kinda defeats the purpose of quickly transferring money.
This is an interesting take. I suppose in hindsight it was naive of us to think the government wouldn't catch on and track / tax it.
Just download your transaction CSVs from Coinbase and throw them into a Git repo.
It’s not just Coinbase though.
I send it from Coinbase elsewhere and those do not provide the data through a csv.
Even if it did, it’s too much trouble. 2023 is the last year I touch crypto.