But they generally rely on individuals to report accurately. Obviously wage-earners arent used to that as their employers withhold money for taxes and report to the IRS so this crowd may find this new found freedom to be foreign and a chance to “get away with” something, but everyone else has lived in a world where they report their taxes voluntarily and accurately
Then again, I'm operating under the impression most people cheat on their taxes w.r.t cryptos
See "Q16. Will I recognize a gain or loss if I exchange my virtual currency for other property?" [1]:
A16. Yes. If you exchange virtual currency held as a capital asset for other property, including for goods or for another virtual currency, you will recognize a capital gain or loss. For more information on capital gains and capital losses, see Publication 544, Sales and Other Dispositions of Assets.
Trickier in the sense that it requires more attention than simply recording the execution price and fees of a BTC/USD trade.
Only more annoying when you have to use an AMM’s info site and the chart isnt very granular or go back far enough. Pancakeswap’s info site doesnt even work.
So yes best to keep track at that exact time of trade
You dont have a way of quantify if people are tax cheats (as what you described does not prevent capital gains liability), stores of value, or buying hamburgers
Even these cryptos aren't being used as currencies per se. They're popular, sure, but they're popular because A) they allow traders to move funds between crypto 'investments' without converting to fiat (i.e. without triggering cap gains), and B) They allow investors to "avoid market volatility" (but in a manner far riskier than fiat, given that even DAI or USDT could go to zero tomorrow).
...but they're still not currencies. Nobody is buying a hamburger with DAI.