Hi Steemians,
There are some book makers out there now that accept crypto as payment to gamble using their site, whether it is bitcoin, lite coin or ethereum, they then turn it into mBTC which is milli- bitcoin. In Australia, gambling is considered windfall, so if I send bitcoin to gamble and increase my bitcoin holdings, does that mean it comes out tax free? Could be, I know in some countries like America not only is gambling mostly banned, it is also taxed, what shit is that ?
Even if you are playing poker, you are expected to have the person next to you verify the poker earnings/losses, sometimes this gets ridiculous, to me most of the tax system is so outrageous, it’s seems like a way to attack crypto and make it less attractive. Just food for thought guys.