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If your intent is to hide something from the government, you really need to only do your business on the black market, with people who are already strongly disi
by logfromblammo 9y ago
If your intent is to hide something from the government, you really need to only do your business on the black market, with people who are already strongly disincentivized to cooperate with the government.
Otherwise, just pay your capital gains tax and feel good about supporting the general welfare, because every last person that depends on being in the good graces of the government in order to earn their living will roll on you in an instant.
All you U.S.-based Bitcoin speculators have been paying your capital gains taxes, right?~
If you don't want to realize a taxable gain, never buy anything from the U.S. with it, especially dollars. If you don't want to realize a taxable gain that the IRS will know about, don't buy anything from anyone with an EIN. If you're going to be a criminal, please at least be an intelligent criminal.
The only justification the IRS has for invading the privacy of thousands of people is because the stupid criminals are embarrassing them. They estimated only 7-9% of Bitcoiners declare and pay tax on capital gains? So if you don't want Coinbase to be forced to turn over your records, your other option is to volunteer to give them to the IRS yourself. Not much of a choice, but the government wants money, and they prefer to take it from the people who obviously have it, because it's easier. So you illegally conceal, or you legally comply. You can't do it half-assed in either direction.
If your intent is the former, you cannot do it through Coinbase, because they must comply to exist.
While I unequivocally despise the usual tactics of the government with respect to taxation, they are at least predictable, so anyone who is relying on Coinbase to protect them is acting foolishly.