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 Still trying to understand this angle (for years). Not being snarky? Why magical?

In the US, it would be a bunch of taxable events without enough reporting to not make it a total nightmare come tax time.

What am I missing? 
 What you're missing is that it's not like this in many/most? places outside the US. 
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 I get that and agree. Totally more valuable as a payment mechanism in developing countries over developed. I do talk about that a number of times here: https://podcasts.apple.com/us/podcast/navigating-bitcoins-noise/id1583424361 
 What about not reporting? 
 Most of the reporting from various services is so early it’s basically unusable and has about half the required info.