I would also add that there are many cryptos, that comes into play in a few ways. One major difference with traditional "money" right now is the wild price fluctuations. You can have $100 worth of a crypto one day and the next its worth $1000. In some ways that is bad, but in others it is very very good!
I am no bitcoin evangelist by any means, but I do try to see both the positive and negatives. With taxes I have a feeling in due time because of the "recorded" nature it will be even easier to track than cash. How is the government supposed to collect taxes if I sell someone a baseball card for $1000 cash? I personally would pay taxes on cash or crypto just to avoid any hassle.
I am no bitcoin evangelist by any means, but I do try to see both the positive and negatives. With taxes I have a feeling in due time because of the "recorded" nature it will be even easier to track than cash. How is the government supposed to collect taxes if I sell someone a baseball card for $1000 cash? I personally would pay taxes on cash or crypto just to avoid any hassle.