Very interesting discussion
Indeed.
The problem lawmakers face is that it is very easy for someone to say they have lost their Bitcoin private keys , for example, and there is no way to check whether they are telling the truth or lying and have them stored in a safe a few feet underground.
If the legislation allows the simple claim that you have lost them to be counted as a capital loss, it gives a lot of scope for the declarants to cheat. On the other hand, if it is too restrictive, it can be unfair to those who have really lost the keys and have no way of proving it other than their word.
This is why the US should simply do what most other nations have done and only charge taxes for capital gains when you actually cash out. Then there is no incentive for liars to lie. And it doesnt unfairly punish those people who are just swapping coins to move them to different wallets.
We can't make the laws on our own, if we do then we will be considered as criminals who violated the laws of government so we have to ise the power of choosing the right person as the leader.
