What are y'alls' thoughts on this?
I'm not gonna do it.
Discussion
I will not comply
FWIW, you dont have to report your basis allocation to the IRS now it's to defend yourself from an audit in the future, which you cannot defend on principle: this video is helpful:
I know. But these fucks think they can write some tune and we all have to dance to it. I don't feel like dancing.
I don't like it either but I also want to survive long enough to watch my enemies float down river, you know?
I'm not selling any of my pre 2025 coin ever. Solved it.
It's not about the sales really, it's about the allocation of the basis of the purchased coins so that if you do sell your able to calculate your gains accurately and avoid the IRS claiming a basis of 0.
FWIW, to your point of never selling, presumably some future benefactor will sell and your basis might be important. There are tax situations where they get a stepped up basis but that's out of my wheelhouse for sure.
I know, and appreciate you.
My family didn't fight, kill and die for freedom only to let some paper pusher tell me to screenshot my net worth.
Go audit Epstein clients you pieces of shit!
I wouldn't screen shot it, Andreas recommends using opentimestamps .org which I think its a good idea. This way. you can just load the state of the allocation on to secure medium and file it away with a way to demonstrate the allocation record was as it says at a certain date and time, i.e., before 1/1/2015. I dont like paper pushers either and I am one. I just dont want to see people getting fucked on principle. I try to talk clients out of litigating on principle all the time because it almost always results in regret even if they win, believe it or not, because litigation is expensive and you dont always get your fees, particularly when the defendant is insolvent anyway.
How is this NOT disclosing everything to be produced upon demand?
Also, why is this even necessary? The only reasons can come up with are the gross incompetence and malfeasance of the IRS in total.
You dont win because the government is stupid. This is creating your record for yourself. So, if in the future, the IRS audits you, you can produce your allocations to demonstrate that your cost basis was calculated properly from a reliable record. You dont have to send them anything now and you certainly don't have to create a record that discloses more than it absolutely has to. Mine, for example, does not include addresses or public keys, or anything like that. Maybe the IRS will not believe me in the future but nothing Ive seen requires such information to be a part of the allocation but of course they haven't provided any good guidance. In short, the IRS has always put the burden on the tax payer to get it right, any errors are resolved to the benefit of the government, so its always been clown world incompetence, but thats the state of things.
Yeah. So, I'm gonna be screwed either way, so, I opt to not do any of that.
🫡
Ignorance is never better than knowledge.
I'm not ignorant, just principled.
BTC is not meant for complying with any authority.
We’re on the same team mate
Sure, but I don't need to like that you want to jump through hoops to make it easier for the fedgov to bend you over.
What should be my first gun purchase
A 16" barreled basic ar15 with at least 10 non-plastic 30 round magazines and 1000 rounds of m193 ammo.
If not that, then a Mossberg shotgun with at least a five round capacity, no longer than 21" in barrel length.
If not that, then a basic 9mm pistol, 1k rounds of 124gr NATO spec ammo and then 200 rounds of a good hollow-point defensive ammo, also with 10 magazines from the OEM.
#asknostr
Why is this necessary? Because the government and its minions think they own everything you earned. They want to control everything and Bitcoin is impossible to control, so they want to make it difficult enough that people avoid it because they are afraid to do it wrong.
So, then, what does this poorly named "safe harbor" get you? You're basically putting together your own noose to hang yourself. If they want to try to figure out every BTC purchase I've made, that's on them. They can. Almost all my sats are KYCd out the wazzoo. They ain't getting my stack. Take my Fiat. Lock me up. I'll face bodily harm over this. I might crack eventually, but I'm not making it easy.
Well not really because we are born with the noose around our neck and this is one of the myriad things we have to do to prevent them from pulling the dead drop lever. We may outlast the gallows but for now we stand upon it. The goal here is to ensure that if you sell int he future and report capital gains you can have a record of the basis from which you are calculating it that's accurate and satisfactory. On the other hand, if the idea is to simply not comply with the law then you're right there's no point in keeping sound records, Im just saying I dont recommend it because if you aren't in jail you can do productive stuff instead.
I’m not a genius, but I don’t understand why people aren’t getting this. Very simple
I’m not sharing anything with anyone. There’s no reporting here. It’s really just getting your shit in order. Other than the 5-10 mins it took me there’s no harm in having the information captured. Air gapped on a USB in my safe.
I'm just learning about this now. Is it just reporting btc to the IRS?
Probably not going to do it
No, it’s not reporting your btc to the it’s. It’s in the event that you sell some portion of your btc and need to account for your cost basis and what method of accounting you use moving forward. It’s a good reset really
To the irs *
You dont need to report anything now you just need to make a record of how your basis is allocated for yourself at a given point in time. I recommend this video:
Thanks
If you ever find yourself needing to sell, for any reason or emergency, and fiat currency—and the IRS—are still in the picture, non-compliance could lead to a rough ride.
I’m not giving anyone my keys or revealing how much I hold, but if my life is on the line, I’ll have a well-documented safe haven of proof and accounting for cost basis and accountability. It’s better to be prepared than to face unnecessary complications.
They can come and try to shoot me in the face. I will return their intent.
Garnishing my wages or debanking me is certainly a real threat, but, at this point I have so little to loose, I don't need to worry about all that nonsense.
Thank you for the warning. But, non-compliance is the best way forward.
🫡🤘🏼
FWIW, there is no harm in doing it. You don't have to tell them anything now, but if you get audited in the future it's better to be able to defend yourself then to not be able to do so out of principle. Principles won't protect you from their guns and jails.
My defense will be at the point of several firearms.
Better to be willing to die for this than most other bs I put myself in harm's way over the course of my life.
Nothing the IRS wants any of us to do is right, moral, or in our interests long term.
Godspeed, I hope it doesn't come to that.
Someone has gotta die so people see how serious this stuff is. Might have to be me. Hope it isn't, but, if it is, so be it.
We don't need anymore people dieing on hills. Even beaver damns which are like wet smelly hills.
Really can't understand how you don't see that this is the same fight that has been waged for 400 years and THE ENTIRE POINT OF BITCOIN.
You're right, more people should not die for this. Yet you're willing to bend over to the regime who will bring the guns. You're acting like the kid on the playground who says violence isn't the answer right before you get robbed and shoved into a locker again.
What the fuck are you talking about. Violence is the only answer to unending violence. You say it like you're the rational one in the room when in reality you're a coward.
any more*
dying*
PS - 100% correct. Fuck 'em. And fuck all the other blood-soaked abc monsters.
Hey, I feel and understand you brother
Right.
I'll go to jail. F-them.
I recommend this video:
Nah. Why? 🙄
They can safe harbor these fucking nuts.
It sounds like a blessing with their ability to verify and increasingly spy on you, your wallet, your profiles. It's a way to worm into your business about a medium of exchange that they have zero authority over and a means to target you if and when they decide to 6102 everyone because their own system collapsed.
Power fighting to retain power.
That's all it is. But they'll do it with a smile and give you an ample 4 days to do it after more than a decade of ground to cover.
Fuck that. Fuck them.