Nostr Web Client

What is your threat model?

Private acquire isn't really the problem. It's the spending that will get you, if there is a serious threat actor.

I'm a nobody and I want to keep it that way I guess.

I see people talk about no-KYC BTC purchase, but it always seemed so complicated. Either you are sending money via fiat rails to randoms and will likely get flagged or you do a F2F which brings physical risk. If you on-ramp via an exchange, I feel that you'd be hiding more with the crowd.

As for spending, I probably want to pull out as much fiat as I put in. Just don't want to deal with spreadsheets for all my expenses, possible exit tax, and/or EO-6102.

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Discussion

Ian "nostr.naut.social" D 2y ago

You core problem is that you are trying to use a product that includes an entire audit trail BY DESIGN to try and stay under the radar.

The moment you exit via any interaction with fiat that isn't cash, or you purchase anything that comes with a trail (property, cars) etc even if you have secure to that point, you just blew yourself up. IF anyone is looking, and those, computers are looking.

On an exchange you are not hiding in the crowd any more than banking in a big bank hides you in the crowd of other customers. Their literal job is know whose money is whose and be able to prove it to auditors.

If you want to stay legal, find out your local rules, and use them. I can bury tens to hundreds of thousands in gains totally legally tax free. My payoff is unlikely to hit 7figs but if it did, i could spend time in warm places and cash out tax free.

Don't be a small time tax evader. They are the ones who get caught.

Johnny 2y ago

Thanks for the thoughtful response. 🙂