They don't necessarily know, unless you use an exchange. But still illegal
Discussion
What's illegal is that you're not filing capital gains tax
Yeah, wether they ever find out is up to chance, but still technically illegal
Agreed. If they ever follow your money trail, you're screwed
Besides they would be like "Hmm, this person makes "blank" money every year, they buy all Bitcoin and are somehow still living without selling 🤔" 😂
I can always send you a bum invoice from a shell company
*wink wink
Not even that, if you come under scrutiny, they'll simply ask you where's the Bitcoin you bought on the exchange?
Lost the keys. GFY. but yes you have it correct. they can also change the laws on a whim and demand 99% capital gains taxes any time they want. So best thing to do would be to establish future-looking privacy with coinjoin or layer swaps, and attempt to build a "kyc-free" stack, which to my knowledge, the only real way is to mine the bitcoin yourself. however, then they can get you on unreported income, so the best thing to do is actually just abolish the fucking state.
Not that complicated. Launder money Al Capone style. Create a shell company in a tax haven like Singapore. Send yourself invoices. Pay. Pay low taxes in Singapore. The money is now laundered
They can ALWAYS ask you, "so, mister, where is the Bitcoin you bought on the exchange?" Then you're screwed and will have to fly to a non-extradition country 😂😂
