I’ve been wrestling with this one. Australia (and many other countries) logs btc as subject to capital gains tax. So whenever we dispose of btc (like when we buy something with btc), it’s treated no different to a sale. We’re then liable for capital gains tax on any “profits” made from btc value growth since it was first bought. It’s a big tax too.
Lots of people only know of kyc exchanges or are not confidant or comfortable with their non kyc options.
So how can you transition a general population to btc as monetary exchange, when it’s at such a transactional disadvantage compared to fiat?
Not trying to sound pessimistic. Genuinely interested in thoughts on this for how to build the road ahead
