You want to know why mainstream Bitcoin adoption (or really any other form of crypto) hasn't taken off yet in the US?
It's not bad UX. It's not Michael Saylor, it's not Luke Dashjr. It's not even Trump.
It's this question on the form 1040:
If you so much as pay for a cup of coffee with Bitcoin in the USA, you're legally obligated to click "yes" here, which immediately plunges you into a rabbit hole of record keeping, "basis", long- vs short-term capital gains, 5 different tax forms, with 100+ pages of instructions, and on and on...
Or just check "no," and congratulations, you're officially lying on your taxes. And good luck claiming you just "forgot", it's not like some 20th question buried after "farm income", or some Schedule X you forgot to submit; it's right there, clear as crystal, "yes or no" in the middle of the page.
Sure, if you're a "Bitcoiner" you're probably used to this... You've got spreadsheets and accountants already helping you. Or if you're just not going to tell the government, fine, more power to you.
But are we really so delusional as to think that *most* Americans, like more than 1%, are going to be willing to go through with this shit to spend their "money" when they can just Tap to Pay for that coffee and not have to worry about any of this?
If you so much as pay for a cup of coffee with Bitcoin in the USA, you're legally obligated to click "yes" here, which immediately plunges you into a rabbit hole of record keeping, "basis", long- vs short-term capital gains, 5 different tax forms, with 100+ pages of instructions, and on and on...
Or just check "no," and congratulations, you're officially lying on your taxes. And good luck claiming you just "forgot", it's not like some 20th question buried after "farm income", or some Schedule X you forgot to submit; it's right there, clear as crystal, "yes or no" in the middle of the page.
Sure, if you're a "Bitcoiner" you're probably used to this... You've got spreadsheets and accountants already helping you. Or if you're just not going to tell the government, fine, more power to you.
But are we really so delusional as to think that *most* Americans, like more than 1%, are going to be willing to go through with this shit to spend their "money" when they can just Tap to Pay for that coffee and not have to worry about any of this?