I can’t believe Bitcoin is still allowed. The only answer I have is they already have Bitcoin defeated and are watching your transactions. They won’t tip their hand until they can’t control it. I had heard a report that the courts decided that it could be taxed as an investment. That tells me they can track it.
Maybe they are the ones who really are behind Bitcoin.
The decision to classify Bitcoin as an investment and not currency is huge.
If I sell a widget on EBAY for 100 bitcoins on Monday...and buy a wadjit on Amazon for 100 bitcoins on Tuesday....I have to calculate the $$ value of 100 Bitcoins on Monday and Tuesday, and if it went up, I have to pay Capital Gains taxes on the difference.
This makes it an accounting nightmare, and makes it prohibitive to use for long term savings.
There are also a thousand other reasons I don’t like Bitcoin.