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by hgomersall 962 days ago
If you can use it to satisfy your tax liability, then it has value.
1 comments

It’s a yes or no question.
I think your difficulty is in understanding what states hope to achieve by taxing, which is not in order to capture some "value" from the thing being taxed. To them, crypto obviously has no value beyond anything they can do with the crypto (i.e. none). On the other hand those that fall under the tax jurisdiction of a state have a tax liability and whatever unit they can satisfy that liability in has value.

The fact that states can't issue more crypto on demand is why they'd be stupid to ever pay attention to it, much less let people pay their taxes in it. Crypto is not even money in the sense that it doesn't represent a debt, which is where the value of money is derived from.

Without fail, every single time I ask person like you a yes or no question, I receive an essay evading the question in response.
That's because your question is not meaningful. You haven't found some great way to catch people out, you've just found the limits of your understanding. That's great, it's a chance to understand where the problem with the posed dichotomy lies.

The reason I'm here is to discuss issues, which means more than single word answers. I'd love for you to respond in a way that actually challenged what I'm saying, or questioned it more deeply or whatever. I'm not here to win; I'm here to learn.

Whether or not crypto can be used to pay taxes is irrelevant to whether or not it holds the value to be taxed itself. But you’re demanding that I address an argument you made in an attempt to evade an argument I made. You’re now trying to have it both ways in more than one way. My question has a yes or no answer, you can either give me a yes or no or I’ll answer for you. I’m not interested in letting you continue to run from your obvious lack of consistency while asking me to let you try everything and see what sticks.
I'm not aware you've made an argument and I'm not demanding anything of you (beyond an implicit request to discuss in good faith). I'm not sure what I'm not being consistent about. I suspect you're assuming quite a bit about what my views are.

I addressed the specific point you made in your first sentence already in the thread. It having value is irrelevant to whether or not it can or should be taxed, but it being taxed is sufficient to give it value.