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Originally Posted by freebeard
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How in the heck are you supposed to enforce a tax on untraceable currency? Why does it talk about transactions of $600 or more when no dollars are being exchanged?
This is one of the reasons I don't see Bitcoin taking off; the government is going to make it illegal since it represents the end of taxation.
I imagine some form of decentralized block-chain ledger e-currency will be the future standard, but not Bitcoin. Transactions will still be tracked for tax purposes.