Topic: Bitcoin Targeted By Latest FinCEN Ruling? – Implications Are Profound (Read 5142 times)

This.

Yet breathe a word about not paying taxes or about non-compliance, and suddenly people think you're a selfish bastard who doesn't care if the world devolves back to the stone ages.

When enough people both understand that it's possible to ignore a government to death, and decide to do so, then change will happen.

Russia never extradite it's citizens.

well how easy is it to get a hold of some gold?  not too easy.

you have to go down to your local coin dealer, if you have one, pay cash and then cart the stuff out the door all the while worrying about being noticed by some mugger who'll rob you right there b/c of the big bags you're carrying.

not to mention selling it back which i did during last Spring which was a pain.  i had to haggle the price and eventually took a 5% haircut off spot.  they made me sign a bunch of forms, show give my drivers license, and then they sent me a 1099 two wks ago on which i will have to pay my regular tax rate, not capital gains.

and btw, have you ever tried buying everyday goods with it?

Yeah this is key. Why does linux, a superior operating system, have a lower market share than Windows? Windows is easy.

I don't honestly know how easy this problem is to solve, though, since there needs to be some trust involved along the way.

I understand your reservations, but it's not even close to a copy of fiat.

+1.

Yes! Popularity is the key. Why was there a huge spike in worth last year? Exposure. I am in the process of being able to help as many people as I can get the bitcoins when they need them without having to sign up places.

I think the ease of getting a bitcoin is important when drawing people in because I think the number one reason people get turned off by bitcoin is because of all the necessary steps and time just to receive some legitimately without high fees.

If bitcoin is just a copy of what we already have with fiat currencies then a lot of us are wasting our time here.

If anything, couldn't this help legitimize bitcoin and make it even more popular? The price is directly related to popularity. So if we want to be rich as early adopters, then don't we need to figure out ways to get as many people to need bitcoins for day to day as possible?

It may not be possible for bitcoins to be centrally managed (excluding exchange choke points), and if those are monitored for tax purposes, so be it - there will always be a large uncontrollable number in circulation, though, and while one payment out of the exchange can be known, what happens then (split to different keys) is anyone's guess.

If secrecy and tax evasion are the only things bitcoins have going for it then a lot of us are wasting our time here.

Venezuela has no extradition laws with America.  Maybe they also are lenient on the USD financial area too.

I always wondered if there was any service that allowed to make a web server in low earth orbit.

Does anyone know of a list of Tor hidden bitcoin financial services?

This reminds me how the church of scientology sued the government until the DoJ ran out of funds, then they cut a deal giving the CoS privileged tax status. Awhile back there was a thread about monocoinism vs polycoinism, perhaps these really are our religions.


Seasteading?

You mean those 4 mere pieces of paper no one even signed. 

Over here it's written in constitution you cannot be extradited while you're living inside the country. I guess that would count as something?

Space?

Your right, I 100% agree.

For example, there's an active bill now to repeal the Money Transmitter License law in New Hampshire that us and some Bitcoin business's are involved in

Change your citizenship.

Only applies to countries with extradition. Ukraine and Russia don't give a fuck about US laws, nor Brazil.
That's why you can cash out your $6k LR stash in Novosibirsk and the guy doesn't ask any questions because nobody there cares.

All exchangers outside CIS/non extradition countries already demand all sorts of ID and don't like working with American's since as long as I can remember.

The Civil Rights movement of the 1960's is a great example. It was not until the blacks started boycotting that real change got done. You have to starve the vampire squid. Everyone understands the pocketbook. Governments and banks around the world are scared to death that they will lose control of the medium of exchange in the Information Age.

As far as being in harmony with unjust laws that is a personal decision for each person to make based on a simple cost/benefit analysis. The Matrix gives a good example. Personally, I do not want any problems so I send them plenty of money.

I have quite a few friends from school who have worked or currently work for the IRS. Their work performance is based on amount of money collected and time it takes to collect it. They are encouraged to settle quickly. Many of my friends who were first audited and presented meticulous records have been left alone for the rest of their lives.

When you understand they operate pretty much like a business then you can better deal with them. Ironically, Congress does not fund them enough so they really have a lot more bark than bite. Sure, they can make your life miserable if you flagrantly disregard them but if you have made a good faith effort to pay what is legally owed then much of their power dissipates. So one course of action is to make it appear in the records that you have made a good faith effort to pay what is legally owed.

Also, greatly complicating the records (why do you think all these TIEAs and FACTA are being implemented) is fun also as that makes any type of an audit a real pain in their ass and if the expected collection is not very much then are they really going to push the issue with litigation; particularly if you are willing to settle and write a check?

One could operate such an exchange, so long as it didn't accept US customers. Interestingly, a law such as this will have (surprise surprise) unintended consequences - those consequences being that US residents will be excluded from overseas service providers, because their god damned government can't read its own founding documents.

That's the wrong word to use. How about this: unethical and overly intrusive.


I agree. However, we should keep in mind that the laws are not always right.

I think the laws in question are wrong, but how to change this I do not know.

Glad to hear that.