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Having worked for a company that did a lot of contract work for small-item/high-value RMA (which regularly gets sold to 2nd tier outlets), drop shipping, LTL fr
by sennight 5y ago
Having worked for a company that did a lot of contract work for small-item/high-value RMA (which regularly gets sold to 2nd tier outlets), drop shipping, LTL freight, etc: it was totally normal for a rental box truck to roll up to the dock and get loaded after the driver presented an invoice matching what was on record. What tax jurisdiction was being operated under or level of needless personal data collection happened before that was up to whoever ran whichever digital storefront they used, all the shipping dock cared about was the invoice number. I don't know what incentive anyone would have had to give the purchaser the third degree - assuming the risk of a clawback was mitigated... so they'd doubly not care about a BTC based sale.
Way back in the day I took some profit by purchasing something like $50k in server hardware that needed to be bought one way or the other. Nothing but a "ship to" address and a BTC private key. Was I trying to secretly launder money? Nope, just a boring business transaction that didn't involve VISA. Was it to cheat the tax man? Nope, the IRS had very pointed refused to issue tax guidance up to that point (and continued to do so for years) - so I just paid the long term capital gains when doing the other paperwork one does in a self funded a business venture.
I always wonder about the people who assume cryptocurrency is something that needs a level of law enforcement scrutiny beyond any other method of payment, how much misinformation was required to yield that result, and if they'll be able to adapt to the inevitable.
- stef25 5y agoDon't all these transactions show up in the books, or it's just not a problem?
- sennight 5y agoIt isn't a problem. I guess it potentially could be a problem if I had been buying a fleet of cigarette boats that ended up being used for drug running. Or if I could be personally embarrassed in the event that the transaction linked a wallet that I was publicly known to control to a German dungeon porn emporium's hot wallet. So if you wanna do those things - be mindful of the public ledger thing. It is funny whenever an "influencer" gets paid to promote a scamcoin and predictably flaunts his wad - accidentally sharing far more than he knew was possible.