Steem is the end to Taxation!!!!

Steem and other Cryptocurrencies will be the end to taxation whether you like it or not.

Whether you support the idea of taxation or don't one thing is for sure, cryptocurrencies will be the end of it.

Cryptocurrencies offers people the chance to earn, pay, move, and use money without the Government even knowing about it.

Say I invested $100 in a cryptocurrency and ended up making $1000 profit, Australian law would dictate that I have to declare that profit for it to be taxed. But unlike regular money it's easy to make sure nothing links me to that $1000 profit therefore I could decide not to declare it if I chose to do so.

More and more business's are already accepting cryptocurrencies such as bitcoin and Ethereum so I could just as easy spend that money without the Government ever knowing. Even if I did decide to turn crypto back in to Australian Dollars and have it in my bank account, nothing is stopping me from declaring that I made that money on a crypto gambling site, and as we all know, Gambling winnings in Australia are not taxed. No doubt people will be offering money laundering services such as this,

What is my point? 

With cryptocurrencies it's incredibly easy to move money around with the Government never knowing about it, many business's already chose to tax evade by only accepting cash or using offshore accounts. It won't be long before cryptocurrencies become the new major way to hide funds. The second I transfer one cryptocurrency in to another cryptocurrency it makes it next to impossible to find out which currency the original money came from.

No doubt in my mind Government will try tackle this by putting laws on Exchange websites which they have already started doing but other crypto services such as bitshares makes it impossible for Government to regulate exchanges properly.