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Just a note for those that don't feel like "good guys" funding wars and spying and perhaps don't believe the systems of "democracy" give them much choice. Tax

Just a note for those that don't feel like "good guys" funding wars and spying and perhaps don't believe the systems of "democracy" give them much choice. Tax collectors have a very difficult time keeping up with such advances; in the case of BTC the small timers won't receive more than random scrutiny and the big timers have many tools to protect themselves. Given the difficulties inherent in taking everyone's money worldwide tax collectors rely on proven tactics such as example making of the famous and releasing inflated information about their abilities. The accountancy and legal professions are understandably partners in this effort. This community is exceptionally intelligent but also quite risk averse so non-complicit folk should try not to take scary anecdotes over the reality of the advantages bitcoin holders with regard to taxes.

gamblor956 13y ago
I've pointed this out before in other discussions, but my contacts in the IRS freaking love Bitcoin because it makes their job so much easier. Tracking Bitcoins may be difficult, but it's a cakewalk compared to tracking physical cash transactions. Taxes have always been based on voluntary compliance and disclosure in the US because that is the "freest" way to handle tax collection. If a significant number of people choose to be non-compliant in Bitcoin, the IRS will simply create a Bitcoin collection task force, modeled after its current Small Business Owner task force (SBO's are remarkably bad at complying with taxes). Because they won't find everyone, they'll throw the book at the few they do find, to increase the compliance rate without actually having to resort to more draconian measures that would truly impair freedom.