But, we are forgetting the unbanked, underbanked, the day laborers and migrant farm workers paid cash, the LexisNexis tracking leading to unbanked.
Check cashing places are slimming, buts that's more due to entry level jobs offering prepaid debit cards as payment of salary. Yum Brands I believe does this. But of course, prepaid debit cards cant be used everywhere. (Hotels, deposits, some gas pumps, etc)
honestly, this is all to plunder the solar system further. Mining asteroids, etc. Of course the R&D is tax payer publicly funded and the future profits privatized. This is the way it has always been.
Although the IRS considers it property, it also allows capital gains and losses on such due to its widely fluctuating price. This means filing cost basis and net gross and loss when the crypto was spent, sold, created (mined), given to another person, etcetera.
here is document Notice 2014-21. In which conditions for crypto IRS conditions are explained in an easy to understand fashion. It's widely interesting to me.
https://www.irs.gov/pub/irs-drop/n-14-21.pdf
I filed for gains for three years, losses for one year. But im out of it, everything is to hot for me.
more info on filing losses. It is the same as declaring losses on stocks pretty much. Cost basis when received, bought, created, or given to you on commerce and then consolidation when that crypto is sold, traded in commerce, etc.