When you get reported to the authorities by your favorite and honest #bitcoin exchange using KYC/AML, you enter their watch-list. You become a "suspect" since they know how much bitcoin you have bought.

The question now becomes can you ever prove to them that you got rid of your stash if you wanted to?

If you can't, does that mean you'll be responsible for paying taxes on them for the rest of your life?

What if your family inherits your stash? Are they also liable?

I don't deal with KYC/AML and the only taxes I pay are sales tax.

But you do and in my opinion, you're screwed.

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But what are non-kyc exchanges?

nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7v is non-kyc I thought

You expose your banking details (account name, account number, bank name, bank country) and this in turn will lead to your bank turning over the rest of your information when ordered (if they haven't already done it freely).

Okay facts.

But how else can one buy #btc then?

I mean, you have to pay with #fiat somehow?

Hodlhodl

Robosats

Bisq (best one IMO)

And my favorite, face to face exchanges.

But you have to get #fiat on there aswell?

Yes, but no will report you because you're dealing with individuals in a P2P fashion.

Im proud to announce i never got scammed by income tax in my whole life. If you are, you are doing something wrong. Change it immediately

🤙