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...In my opinion, if the system were to use a fantasy "Stamp Smarter Scheckel" as currency and if it were remain relatively small, it would represent 'more work than it is worth' to come after it (by using a fantasy currency calculating 'value' becomes a much larger time suck for the taxman). But it certainly is a risk and the understanding would be that the system might one day come under the scrutiny of the tax man.
I have two issues with investing my time in something like this; first is the jerks in out hobby. The 'know it alls' who have a grudge and would not think twice in trying to take down the work which a system like this represents. Second is the ethical issue of dodging taxes. Staying under the radar does not make it right nor does the perspective 'everyone dodges taxes'. Real business owners, those who are setup with the IRS as a business, should not have to shoulder the tax burden while 'wannabe dealers' skate. So a system like I imagine would be only for true hobbyists looking to only barter a few things each month. No 'stores' or unlimited listings, there would be a cap on the number of transaction or "Stamp Smarter Scheckels"....
Don
Yet more Russian sanctions come home to roost on the shoulders of Americans to help Ukrainians.
Senator Warren seizes on fears over crypto and sanctions with new bill (3-9-22)
If passed, Elizabeth Warren's new draft crypto bill will require local crypto exchanges to submit "detailed records" to the Treasury Department of customers' identities and transfers to private crypto wallets.
https://cointelegraph.com/news/sena...ith-new-bill 
Posted 03/15/2022 08:52 am
