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0 sats \ 5 replies \ @kr OP 17 Aug 2022
As noted in the original article and this one, these new rules affect Canadians living in 9 of Canada’s 13 provinces and territories, including Ontario with roughly 40% of Canada’s population.
These rules exempt Bitcoin, Ethereum, Litecoin, and Bitcoin Cash from the $30k limit… no idea who decided on these four assets in particular.
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1 sat \ 4 replies \ @jeff 17 Aug 2022
Idiots decided the list. What a joke. It has nothing to do with what the tokens represent, freedom/rights, or risk.
You know why they picked that list? Because that list is what they have tracking software for ready to go. It takes time and money to write software to monitor other chains.
Think about it. They write software for BTC, ETH, the majors - then they go "Hey, we can add LTC and this other shitcoin, cause it's so similar to BTC" (I'm paraphrasing a bit).
Plus, the other chains have lower market caps -> lower number of users -> lower taxability. So they can't justify the development costs to track it.
MFers.
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0 sats \ 1 reply \ @AJ1992 18 Aug 2022
Except LTC isn't similar to BTC at all... LTC actually has consistent block times and near free fees. Also, no matter the fee size as long as it's 1 sat/byte with LTC you are always in the next block. Dash is the same way.
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0 sats \ 0 replies \ @jeff 18 Aug 2022
Software wise, LTC is extremely similar. Especially to monitor. Fees are irrelevant to my point. Dash was a fork, but, it's market cap is waaaay smaller now.
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0 sats \ 1 reply \ @mikhael 17 Aug 2022
Baseless speculation. Could be true, and just as easily not.
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0 sats \ 0 replies \ @jeff 18 Aug 2022
You're correct.
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