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I'm not sure why this would be a goal. There is nothing illegal about holding something valueable. It is only taxable events, such as selling your bitcoin, that
by stale2002 8y ago
I'm not sure why this would be a goal. There is nothing illegal about holding something valueable. It is only taxable events, such as selling your bitcoin, that require disclosure to the government (so that they can tax you, obviously).
- deleted 8y ago[deleted]
- freedomben 8y agoThere's nothing illegal about holding it, but due to tax law ambiguities and changes, almost every person holding it is guilty of some tax evasion/fraud. As governments get more and more desperate for revenue to back their spending (this is especially true of states who can't print money like the Fed can), I certainly don't want to be on their list of "likely criminals" they can come after.
- stale2002 8y agoHolding Bitcoin is no different, legally, than holding bars of gold. And yet many people hold gold, or other precious, non USD materials, but nobody freaks out about their about tax fraud risks. If the government starts coming after everyone's non USD commodity holdings (which, to be fair, isn't entirely unprecedented. Owning gold was illegal at one point), then we have much bigger problems than just as it applies to the comparatively tiny crypto market.