Is crypto a currency or a stock/property? If it’s a currency, why would we ban politicians from using it? If it’s property, why would Colorado allow you to pay your taxes with it?

The seeming contradiction is seriously messing with my head folks.

Ok so hear me out. I feel like if we are on the side of supporting crypto currency adoption, then we agree that it’s a currency, and for that reason, we should be supportive of politicians using it, not banning them.

After all, politicians can use/hold/own dollars, right?

On the other hand, if the IRS treats it as property, then we can mine (create) it, or buy and hold it, without being taxed. Only when it’s sold is it taxed. We like that, right?

So that settles it. Its property.

But wait. Colorado is going to allow you to pay your taxes with it. Wouldn’t that be like paying taxes with goats or houses or footballs? Not if it’s a currency.

Ok then it’s settled. Crypto is a currency.

But wait, courts have decided in recent fraud cases that tokens are actual property of the wallet holders. Score a point for property.

But wait. We keep crypto in a wallet. When was the last time you went to pay for dinner, and proceeded to whip a pig or a house or a stock certificate out of your wallet? Never? Probably because a wallet holds… you guessed it… currency.

Ok ok ok. Maybe crypto is neither currency nor property, but a new hybrid concept; a currency-stock. “Crock” for short.

Shit-coin? That’s a “crock of shit.”