Hacker News Reader

> there has been more hesitancy around what to do with digital assets like Bitcoin due to volatility and a history of it being used in shady transactions like drugs and evading taxes.

Yes, all of those low-level tax evaders with their thousands of dollars in Bitcoin avoiding taxes via easily traceable transaction and plenty of digital forensic evidence! That's the real concern preventing bitcoin's adoption by legitimate businesses. /s

The IRS could employee <10 people fulltime to monitor these guys each year and not break even in returnable taxable income...

There are far bigger problems with cryptocurrency adoption/scaling that are tirelessly being worked on.

Money laundering and tax evasion via cryptocurrencies has hardly resulted in any level of significant criminality, despite the endless years of FUD/hype that it's attracted...

View on HN

Dozens of American entrepreneurs, made newly wealthy by blockchain and cryptocurrencies, are heading en masse to Puerto Rico – a US overseas territory – this winter. They are selling their homes in California and establishing residency on the Caribbean island in hopes of avoiding what they see as onerous state and federal taxes on their growing fortunes, some of which reach into the billions of dollars.