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Nit: Bitcoin is not anonymous - It is hard pseudonymous. Wallets are known, balances are public, you can be tracked; It's really the IRS's dream, in some ways.
by GauntletWizard 13y ago
Nit: Bitcoin is not anonymous - It is hard pseudonymous. Wallets are known, balances are public, you can be tracked; It's really the IRS's dream, in some ways.
- olefoo 13y agoSo clearly the answer is: you can remain anonymous, so long as you pay tax on your income. So if you're reasonably careful you can earn an income on bitcoin and spend it in bitcoin, you just have to issue payment to the IRS for (.25 * income_in_BTC) otherwise they go after you and aggressively deanonymize you and hit you with a bill for (.9 * income_in_BTC). And the IRS really doesn't care if you're using your share to buy weed on Silk Road; they only care that you're not contributing your fair share. Bonus: We get to tax income of non-US-Citizens ( benefits of empire ).