[fastball]

As others mentioned you're forgetting an economy which just uses crypto as the means of exchange, which for many has always been the long term goal.

But you're also forgetting P2P crypto marketplaces like LocalCryptos[1], which (for Ethereum) allows you to have smart contract escrow and therefore the middle-man is only really required in the case of disputes. I personally have transacted > $100k with LocalEthereum, not once having an issue with a trade, and most settling in under 30min.

[1] https://localcryptos.com/

[jacques_chester]

> As others mentioned you're forgetting an economy which just uses crypto as the means of exchange, which for many has always been the long term goal.

Taxes are owed in income or capital gains, whatever form that income or capital takes, but taxes can only paid in legal tender. Until the IRS et al hang out a wallet address for payments you will still need to touch the ordinary financial economy.

[fastball]

A good number of people (in the US at least) legally pay no taxes every year. So it's hypothetically possible to live entirely within crypto (legally) already.

But yes, that was more talking about the future. That is the matter at hand, after all – Coinbase's future (or lack thereof).

[ImprovedSilence]

A good number of that good number of people that dont pay taxes are children that dont participate in the economy first hand.

[fastball]

I'm not talking about children...

[alexeldeib]

Who are you talking about?

[freeone3000]

Presumably people who make less than $22,000 USD and have no capital gains, which definitionally cannot apply to anyone dealing with cryptocurrencies (as they're securities).

[brianvli]

Ty for sharing!

I did totally forget to mention local exchange