比特幣投資者將來需要繳納銷售收益的資本利得稅嗎？

社交媒體上的最新主張表明，維多利亞州法院的裁決將意味著比特幣投資者將來不需要為銷售收益繳納資本利得稅。但是，我覺得在這種情況下，法律老鷹隊的觀點犯了錯誤。

Recent claims on social media suggest that a Victorian court ruling will mean that bitcoin investors won't need to pay capital gains tax on sale proceeds in the future. However, I feel the legal eagles in this instance have erred in their views.

社交媒體上的最新主張表明，維多利亞州法院的裁決將意味著比特幣投資者將來不需要為銷售收益繳納資本利得稅。但是，我覺得在這種情況下，法律老鷹隊的觀點犯了錯誤。

The claims are on the basis that the magistrate and a tax lawyer viewed bitcoin as a form of money, and therefore capital gains tax free, in a similar principle to the way giving your grandkids $100 for Christmas doesn't attract the tax.

這些索賠是基於地方法官和稅務律師將比特幣視為一種金錢形式，因此，免稅稅款的原則與給您的孫子孫女100美元的方式類似，這並不吸引稅款。

However, I must point out that there's no chance the Australian Tax Office is going to view bitcoin as money and tax free. Any legal challenge to this position will also flop.

但是，我必須指出，澳大利亞稅務局沒有機會將比特幣視為免費稅款。對該職位的任何法律挑戰也將失敗。

What is the future of money and bitcoin?

金錢和比特幣的未來是什麼？

Money must be a means of exchange, a reserve of future purchasing power equivalent to a store of value, and a stable unit of account to price goods and services.

金錢必須是一種交換手段，即未來的購買力儲備等同於價值存儲，以及穩定的帳戶單位，即價格商品和服務。

It also ultimately needs a central bank as a supplier of liquidity to meet goals such as national defence and full employment. The only alternative is to replace fiat, scrap society, the rule of law, and systems of government as we know today.

最終，它還需要中央銀行作為流動性供應商，以實現國防和充分就業等目標。唯一的選擇是替換我們今天所知道的，取代菲亞特，廢料社會，法治和政府制度。

So let's take a look at bitcoin as money. It ticks the box as a store of value. It's decentralised, immutable and has a supply limited to 21 million coins. In fact it's probably a better store of value than the paper money we use today.

因此，讓我們看看比特幣作為金錢。它將盒子作為價值存儲。它是分散的，不變的，供應量限於2100萬個硬幣。實際上，這可能比我們今天使用的紙幣更好。

It also works as a means of exchange to buy goods and services. So far, so good then. I even paid for a lunch with basketballer Matthew Dellavedova at Bertie's Butchers in Richmond, Melbourne, using bitcoin.

它還可以作為購買商品和服務的交換手段。到目前為止，一切都很好。我什至用比特幣在墨爾本里士滿的貝蒂（Bertie）的屠夫中與籃球運動員Matthew Dellavedova付了午餐。

The transaction never touched a TradFi bank account. In a first for me, the debit and credit occurred between two iPhone apps (Wallet of Satoshi) on the digital token's decentralised blockchain, without the need for verification by a third party.

該交易從未觸及Tradfi銀行帳戶。對我來說，在我的第一個方面，借方和信用發生在數字令牌分散的區塊鏈上的兩個iPhone應用程序（Satoshi的錢包）之間，而無需第三方驗證。

In other words, there was no unique role for today's money to buy stuff.

換句話說，今天的錢沒有獨特的角色。

Tokenisation and the future of money

象徵和金錢的未來

Tokenisation in the form of stable coins or other assets such as tokenised gold or stocks also means we could in the future use assets, rather than money, to exchange services for wealth.

以穩定的硬幣或其他資產（例如令牌黃金或股票）的形式進行象徵化，這也意味著我們將來可以使用資產而不是金錢來將服務交換為財富。

This is all well and good, but here's where bitcoin fails as money.

這一切都很好，但是這是比特幣作為金錢失敗的地方。

I paid the restaurant owner around $70 in bitcoin for the lunch in October 2023. Since then bitcoin's value has roughly quadrupled against fiat to mean I paid around $280 for two sandwiches, coffees and soft drinks at at a knockabout hipsters' butcher.

我在2023年10月的午餐中向餐廳老闆支付了約70美元的比特幣。從那時起，比特幣的價值大約對法定人來說大約三倍，這意味著我在knockabout hipsters hipsters的屠夫上為兩個三明治，咖啡和軟飲料支付了約280美元。

So we can see bitcoin doesn't work as a stable unit of account to price goods and services.

因此，我們可以看到比特幣無法作為價格商品和服務的穩定帳戶單位。

On the contrary, 99.99% of people buy bitcoin because it's a volatile unit of account. Almost nobody wants to spend it today as they expect its price to climb in the future. And nobody ever bought it hoping its price would fall versus fiat. This the reverse principle of China's deflation problem. The Middle Kingdom's a nation of savers where citizens are reluctant to spend because they suspect the price of goods and services may fall in the future. This also explains why governments and central banks target inflation in a band of 2% to 3%.

相反，有99.99％的人購買比特幣，因為這是一個波動的帳戶單位。幾乎沒有人願意在今天花費它，因為他們預計其價格將在未來上漲。而且沒有人購買它，希望它的價格會降低與菲亞特。這是中國通縮問題的相反原則。中間王國是一個儲戶國家，公民不願花費，因為他們懷疑將來的商品和服務價格可能會降低。這也解釋了為什麼政府和中央銀行的目標通貨膨脹率為2％至3％。

So even in a world of asset tokenisation where money disappears as a forms of payment, our society would still need a liquid form of future purchasing power or relatively stable unit of account.

因此，即使在一個資產象徵化的世界中，金錢以一種付款形式消失，我們的社會仍然需要一種未來購買力或相對穩定的帳戶單位的流動形式。

This is where central banks come in and unless we launch a revolution to overthrow them, the government, courts, and Australian Tax Office, you're going to pay capital gains tax on your sales.

這是中央銀行進來的地方，除非我們發起一場革命來推翻它們，政府，法院和澳大利亞稅務局，否則您將對您的銷售繳納資本利得稅。

If you're interested, in bitcoin in this article I also unpack why if we assume fiscal stupidity and associated inflation is the best measure of the bitcoin price, it may have further to climb thanks to President Trump's Big Beautiful Budget Bill.

如果您有興趣，那麼在本文中，我還可以解開為什麼如果我們假設財政愚蠢和相關的通貨膨脹是比特幣價格的最佳衡量標準，那麼由於特朗普總統的大型預算賬單，它可能需要進一步攀升。

What do you think about bitcoin, tokenisation, and the future of money? Please feel free to leave a comment below.

您如何看待比特幣，象徵化和金錢的未來？請隨時在下面發表評論。