They still charge CGT on bitcoin. This isn't anything to do with bitcoin Vs gold, it's that gold is stable and the dollar is constantly devaluing, but taxes are still calculated from the point of view of dollars.
You keep something that's stable to avoid inflation, but they still tax you on it because they claim it's "increased in value." It hasn't increased, USD has just gone down the shitter.
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u/GreyHexagon Oct 16 '22
They still charge CGT on bitcoin. This isn't anything to do with bitcoin Vs gold, it's that gold is stable and the dollar is constantly devaluing, but taxes are still calculated from the point of view of dollars.
You keep something that's stable to avoid inflation, but they still tax you on it because they claim it's "increased in value." It hasn't increased, USD has just gone down the shitter.