All reporting requirements for tax and other purposes should still be followed but even this only reveals some information about the aggregate amount of cash that has changed hands. Nevertheless, the benefits to the average person can be enormous.
I actually wondered if there is a CPA that would weigh in on how to do taxes for those who are treating steemit as a job. If you are not taking money out, then I would be forced to believe that it is similar to the stock market, where you don't pay on anything until you have fiat gains. (I'm not an expert, but this makes sense to me)
Also what business expenses can we write off? Travel, lunches with people you are collaborating with. Necessary hardware/computer/cell phone.
I'm mostly interested in the US tax but other countries may wish for help too.
I feel that the security of credit cards is ridiculous. My mom (not tech savvy) could take a photograph of a credit card, use a vpn and buy a product online and have it shipped somewhere where she knows nobody and go and pick it up. And to have the cvv on the back of the card? So foolish.
I'd love two factor authentication for credit cards so in addition to swiping your card, you'd get sent a random pin sent to your phone to enter to verify your transaction.
I've had identity theft and it sucks and it's very easy to do. It boggles my mind at the lack of security attached to the cards we use almost daily.
The only thing I dislike about cryptocurrency is the fear you may send money to the wrong address and lose a large sum forever. Or forgetting/losing your password. Those two problems need to be solved before I see crypto being widely accepted.
Great article @tracemayer. I have been listening to and reading a lot of your work as of late.