Here is how I think it works, curious if you have insights on how to deal with it?
In the US, every bitcoin transaction is supposed to be tracked. Here on Stacker.News if I earn 10 satoshis, in that moment, the US tax office wants the incoming satoshis documented, valued and then when I spend a few minutes later upvoting your comment, if bitcoin price has changed, I've now incurred a short term capital gain or loss.
Holy wow - that seems like a huge burden to getting the bitcoin circular economy going? Am I over thinking it? Am I getting it wrong?
Do other countries have this same burden?
Is there an easy way to account for it all with code?
I believe (curious what you think...) to speed up hyper bitcoinization, getting solopreneuers and small business owners transacting in satoshis will help a lot. But how to get them on board if the tax reporting seems so burdensome?
Thank you in advance for your time and insights.