I have two completely seperate, totally unrelated questions.
1. If I deposit all my bitcoin into a non-kyc casino and lose it all gambling, I wouldn't ever pay any unrealised gains tax if such a tax appeared in the future right? I mean... I'm at a loss.
2. If I withdraw bitcoin from a non-kyc casino to a newly generated wallet, I am now in posession of KYC-free, completely pseudonymous untraceable bitcoin, right?
Is my train of thought on the rails here?
#asknostr #bitcoin
sounds like a very cool story I mean experience.
Even the KYC-Free casino can track your withdrawal adress. They won’t know your details but will be able to provide your new adress.
But going forward, the withdrawn funds would be pseudonymised right?
If you plan on bringing it to your grave yes. If not, any ramp-off will be retraced
If you plan on bringing it to your grave yes. If not, any ramp-off will be retraced
you need a coinjoin roulette table
COULD BE THE MOVE
1. As long as it can't get back to you, you're good. But if there is a small chance, keep a log of how much you bought for how much so you can prove it was a loss and not a 100% gain.
Also keep in mind:
If you buy 1BTC for $100 and gamble it and lose it all when the price of 1 BTC = $1,000, this is not a loss of 1 BTC, it was a gain of $900. 💩
The government sees in dollars, so to them you: sold 1 BTC for $1,000 making a profit of $900, and THEN gambled away $1,000.
2. When the taxman sees you living it up, they'll wonder where the money came from. If it isn't obvious to them, they'll suspect that you're tax evading. Don't need KYC to report you for you to get caught. KYC would confirm their suspicions though.
just thinking out loud, send sats to cash.me convert into ecash, send as sats to casino Ln invoice, remove via Ln invoice to new wallet?
nostr:npub1ecj23gtrdr8sj7zmcusl9dfuem0dg7wmgvwe3uhl7kxm9wafn5psn7h6up
nostr:note14m4nj6wzxzv5gtj4kyppfmft66wjrn4s20tpuyqqqun8zps5j9vqzvx5lv
In this case, you're treating the casino as trusted third party (TTP). If that trust is broken for any reason (due to a flawed implementation, or due to a malice, etc), then your coins are nit non-KYC.
In the nutshell you are asking if we should trust mixnets (coin mixing services), there is plenty if research literature on it but I don't know if there's a well known implementation.
Yes, trusted third parties are definitely not the way and I definitely wouldn't recommend anyone to try this theory I've presented.
It was more of a thought experement than a serious consideration.
If you saw or jumped in on this conversation, I would like to highlight that this was only a train of thought! I do not recommend for anyone gambling OR trusting third parties with any meanful amount of bitcoin!
Stay humble and stack sats brothers and sisters, let's hope we get some user friendly whirlpool style tech in the near future!
#FreeSamurai #Bitcoin #privacy
