I suppose that would be one the costs of renouncing. Drastically limiting the nations of the world that you could visit.

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Basically, yes. And once you have family, that calculation gets even more complicated.

The problem, mostly, is just with the information you give Uncle Sam. I haven't seen much analysis about people's "declaring" of bitcoin assets if they never sell with their taxes, but that'd be a worthy issue for any Bitcoin podcaster to cover.