This is the recording of a livestream interview I conducted with Dr. Julian Hosp from TenX on the 29th of June 2017.
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You finally hit on the fatal flaw: taxes and regulations! I've thought about a crypto debit card, but I'm in the U.S. and I'm not sure it's even available. But if the end user is responsible for keeping detailed records on conversion from crypto to fiat every time they fund the card. That's just not realistic. That's never going to happen for the average user. I would do it to comply, because I don't want to get into trouble with the IRS. But I think that's the largest problem right now. Is anyone actually paying taxes on their crypto gains? (This is why the IRS is suing Coinbase, correct?) I mean the less crypto users comply to governments, the more the governments will crack down with regulation. How do we break through that Catch-22. The only way to make it work is 100% crypto adoption and just living and spending in that space. But that's never going to happen... in my lifetime. I don't know. Just thinking out loud. Good interview. Keep them coming. Also, I was very curious as to his comments on the ICO and having to give up "less control of your company". So what is the ICO investor really getting? If the only way to make money is praying and crossing your fingers that the token's valuation goes up. I don't see how ICO investing is so profitable. What am I missing? Thanks Chris.
Great comment. Even if we were earning 100% of our income in crypto, the government would require us to declare that as well so we could pay income tax.
Hi Chris, I've heard about the upcoming Ong Social ICO. I'm wondering what you think of it? Good investment?
I have not studied it at all to be honest.
I'm also interested in that. Sounds like a great concept.
Thanks for posting the interview, watching it.
Great interview, Chris. Smart questions, and very genuine and smart answers. TenX looks to be a very promising company.
screen goes black: "I'm still here, thanks"