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According to the IRS if I provide you with these seed words I am transferring a digital asset and am now required to submit a 1099-DA to narc on myself
Discussion
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Sounds ghey
Hue gotta put bitcoin there first π
What if I randomly say 12 words on the BIP 39 list and they happen to have sats on them? By definition that would be a transfer of assets if the ownership is defined by who owns those words.
This seems like a slippery slope where words now have real world value and where a government is going after people that are transferring words and 1s and 0s to each other instead of playing in their corrupt system of lies
The slippery slope being a 1 in 5.44 x 10^18th power chance of randomly guessing someoneβs seed?
Donβt get me wrong, fuck the IRS. But thatβs a bad example.
I meant more that words having value associated with them now we are being limited in speech by our government. I think the transfer of any set of keys random or not is freedom of speech
I think your argument is against taxes, not against limits on speech.
Receiving any sort of non employment income in the amount of $600 or more requires a 1099. Itβs not bitcoin specific.
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