Do you pay taxes on your BTC?
What happens when IRS comes for that bag you bought but you accidentally lost it along the way when you tried to take it to self custody from the Coinbase or other kyc exchnage?
#asknostr #grownostr #privacy #decentralized #freedomtech #bitcoin
Don’t brake any laws where you live.
What laws?
Your IRS agent will give you a detailed list for your convenience.
Actually, he won't. Nor will the agency.
Study the history of Bob Schulz and "We The People" in the Tax Honesty movement. There is no law that makes the average American non-government worker liable for an income tax. It's all smoke and mirrors, a fraud designed to frighten people into volunteering as "taxpayers" by filling out and signing your 1040 "confession."
That's kinda the world I am more aligned with. You just gotta know your laws and how to hold your ground.
Even more foundational is a good grip on fundamental morality. Most people have been indoctrinated into believing they have a moral obligation to obey the state. Until that lie is overcome in their own soul, there is little chance of resisting.
nostr:npub1cxp3l03x20mkzezzr4takm8w8zuva7xwvacmcewp97z58hjt8xls3mexlq you sound a like a freedom thinker... Where do you buy your #btc?
P2P and local circular economies are really the way to go here on out. The sooner we bolster such efforts, the better off everyone will be. This is why I'm so pumped about the intersection of bitcoin and nostr and tech like cashu and mesh networks...😃
I want to know more. I going to sleep now though... Will be back tomorrow to continue this discussion.
Would be willing to tell me more about cash and mesh networks? 😃
I appreciate your interaction...
I'm putting together a collection of some references for you, and will post more here soon.😃
Awesome 😃🙏🏻 thank you!
Look for and follow nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg for cashu info.
Check this out, while I look for other important mesh stuff:
Ok really… this is exactly what Vexl is. If you haven’t heard about it Duncan let’s chat.
Here is some of the history...
https://reason.com/2004/05/01/its-so-simple-its-ridiculous-2/
You mean like, just KYC myself and buy? I've been thinking about actually just doing this...
I literally had just started readimg this earlier to get a reminder on the no kyc options. They are so tech heavy. Noob needs hand holding.
Try Vexl! It’s by far the best way, and the most privacy preserving. it’s free it’s anonymous and it uses your web of trust
Why are you literally the first person mentioning vex? Is it country specific? Does it work anywhere?
vexl
he also talked to me about it here before and maybe i actually talked to him at bitcoin atlantis
looks interesting but i haven't got the time to do much about it right now
Will check it out. How was Bitcoin Atlantis? Did you have a good time? What's your favorite moment and key takeaway?
i went for the morning and stayed to watch michael saylor and lyn alden and then ran back home to my country house
i missed jack and jeff tho, their session was awesome, could have caught it if i'd known it was on, just got too homesick and hating on the city
ah yeah... only the first day
i didn't have any compadres so nobody to stop me from going back home and nowhere to stay in the city for the 3 days and it is a pretty rough ride 30 miles each way every day i couldn't do it
Gotchu. Sounds like a nice enough adventure. I hope to watch the recordings of all those. :)
idk, i'd probably say "i would like to hang out with bitcoiners more often but y'all gotta come and live here in madeira so we can make some places of our own"
I’m still here! Just got finished canyoning it was incredible I plan to come back often!
oh i saw your banner image... i remember the sticker in my cloth goodie bag... didn't know where to put that sticker so i threw it away but i get what it is about, fuck the kyc, etc etc...
if you happen to be passing sao vicente i'm here to share a walk up to the clocktower or down to the crazy beach or whatever and chat
Did we meet? Maybe, I was the guy with the briefcase 😎
It works everywhere it’s web of trust based so it grows gradually and then suddenly. You have to grow a community and it becomes the easiest, way to buy bitcoin with no kyc. Discreetly and among the people only in your web of trust.
All servers must report cash tips 🤣
IMO pay taxes. You will sleep better and the clean money can be put into use.
They just wait till you send back to sell.. remember the irs isnt going anywhere so they can wait for btc to go to 1 million and wait for you to send to any exchange
Why send it to an exchange?
Exactly.. you only pay taxes on what you sell on an exchange.
So not what you buy and your gains? 🤨
Not true.
Ok. Aint none of us buying a house or a car from a dealer yet
If your coins are kyc'd, and you dispose of your crypto without paying capital gains, the IRS can look back several years. Sure you come clean with your kyc coins eventually, but your history will haunt you.
RE: "You should also consider coinjoining your KYC stack."
I've been bitten by this. If your coins are kyc'd and you coinjoin, you'd better be disposing of them. If not then the IRS will tax you a capital gain when it leaves your 'trail' and income when it comes back. It's a double tax on a non-taxible event.
I hope not...my entire stack is being coinjoined as I type this
Just remember that everything on the blockchain is public, and with taxes the burden of proof is on you. If you create complexity, you will be the one responsible for intangling your web. Guilty until proven innocent, and all that.
nostr:npub1tsrh6g3etzdahj0jgnvec86z0sqw7yhkcq9l578m4tyv8v5976yseatmmg please define "disposing" of them.
dispose as defined here
What they don't tell you is that if an irs agent (during an audit) can't trace your BTC all the from the orignal purchase to the final sale then you run into trouble. When this happens then there is missing info, like a wallet that you might have used temporarily to transfer between wallets, a coinjoin, etc. Then you have to figure out and remember what you did years ago, for every transaction. Did this go to an exchange, come from an exchange, from exchange to exchange, etc? If you try and do your taxes you will see the tax software try and do this for you, but if you are a power user it simply geta it wrong. All of them get it wrong, and none of them agree the truth, neither will the IRS.
The only sure way is buying non-KYC so nothing is tying you to a Bitcoin purchase
Gov will always know when and how much Bitcoin you bought if you KYC even if you coinjoin
The only way to "undo" is selling the same amount back to the same exchange you bought from so it looks like you don't have any left. Then re-buying non-KYC. Don't have to do this all at once. You can do this slowly over time in chunks. You might lose a little bit to fees and taxes but the peace of mind going forward is worth it I think. Or you can roll the dice up to you.
Remember, the leeches in DC were discussing taxing unrealized gains a couple years ago.
Appreciate this
Here are ways to do it. It's for Monero, but there is a lot of overlap that you can use for Bitcoin:
https://pb.envs.net/?8d147af77e283d95#8YBZCoLJjG5a8bqNqwvGKLAwQfMUSeBE52GsP6UJBy7U
Boating accident memes are just memes. They won't work.
Ditch Coinbase. Only buy non-KYC Bitcoin and be comfy.
https://pb.envs.net/?8d147af77e283d95#8YBZCoLJjG5a8bqNqwvGKLAwQfMUSeBE52GsP6UJBy7U
