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> Of the top my head, it is estimated that 10% of our GDP is in off shore havens, think about that infamous 1% moving just half of that 10% into Bitcoin .. The
by johnwheeler 9y ago
> Of the top my head, it is estimated that 10% of our GDP is in off shore havens, think about that infamous 1% moving just half of that 10% into Bitcoin ..
The IRS would crack down on this as with any other tax avoidance scheme. Offshore havens are probably safer since many rely on loopholes.
- millermp12 9y agoSure, but much of this depends on BTC exchanged for fiat. I suspect that if governments really try to put their foot down, they will inadvertently fuel a shadow economy similar to how failed states try to set an official FX rate.
- starlust2 9y agoMore so that argument relies on magic thinking. Unless there's good reason to believe that bitcoin will be the goto for tax avoidance it's just wishful thinking. If just 0.000000001% of all astroids made of solid platinum land in my back yard I'll be a gazillionaire!
- gamblor956 9y agoWe have information disclosure treaties with all of the offshore havens, re FATCA. They were actually the first targets and they acquiesced almost immediately. If you're trying to hide assets, the U.S. is the place to be, as none of our treaties actually require us to share information back with the rest of the world.