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> That entire industry is going to be reinvented from scratch

Hey, I heard that one before! The entire financial industry was supposed to have been reinvented from scratch by crypto.

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Well it kinda did change things up a bit. Me being able to receive payments across borders without significant delay or crazy fees is a decent perk, you can hate crypto culture and grifters trying to make a quick buck but it's applications are very real.

Won’t you get taxed on “gains”when you do that and then eventually convert to fiat?

I was considering this path a few years ago but all my research pointed to me being taxed for moving my own money from one country to another. Which would’ve cost significantly more than a good ol’ bank transfer. (I needed the fiat on the other end)

My understanding was that as far as the receiving bank is concerned, the converted crypto would’ve appeared out of an investment/trading platform and needed to be taxed

The bank transfer cost like a couple of bucks anyway so it wasn’t worth the risk of trying the crypto route in the end for me.

If you use stablecoins there will be no gains or losses.

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