Topic: Could someone explain Washington, USA's new Bitcoin law to me in plain English? (Read 195 times)
February 05, 2019, 10:13:54 AM
Its always going to be simple to make obey the law.
You won't be hiding no more if you pay your tax that's what you get for being a law abiding citizen. If not then you are going to be in the hiding for god knows how long. You're already lucky for your government allow you to own BTC.
February 05, 2019, 09:51:21 AM
Dude they allowed Bitcoin in your country and you are still being a ungrateful greedy bastard by not wanting to pay your tax obligations? This is what the government is afraid to show support off as they know some outliers are still hiding their earnings when it comes to crypto, its like they are giving a go signal for legislators that are against cryptos in the first place to make some strict changes in their crypto laws. If I were you I'll just pay my fair share of tax liabilities so that I'll have a peace of mind.
February 04, 2019, 04:23:54 PM
You are asking people how to commit a crime in a public forum basically, from what I understand? maybe not a crime but a felony, I don't know how that really works. The main point is, I don't think people is going to help you break the law, at least I will not. What you should do is comply with the law, is as simple as that. If you don't like the laws of your country, move to another country. In case of doubt, do not sell and hold the coins and figure out what you want to do.
And if the government passed a law that ordered you to kill people, or report them to the authorities, resulting in their certain death, what would you do? Because something very much like this happened with the German people in World War 2.
The government, at least in this country, is supposed to represent the people, not itself or its own special interests. The people are supposed to have the right to vote for any law that is proposed, and the responsibility to question any law that is passed which they do not agree with or vote for.
We allow some small group to control THE ENTIRE COUNTRY. We forget that WE have the power, and THEY are supposed to serve and represent us. Would you throw Rosa Parks in jail for not giving up her bus seat? Because the law said she had to.
That said I was not asking anyone to break the law. I just wanted to verify this thing my mother said. I just wanted this law, if it exists, to be explained to me in plain English. That was all, and is all, I am asking of the people of this forum.
January 26, 2019, 10:30:39 AM
So apparently without voter knowledge or consent Washington passed some trading bill or law governing Bitcoin (and altcoin) in some way. I asked my mom to send me the link but I don't have it yet, it was at a site, Geek something or other and it had a link to the bill.
Hoping someone here could link to this bill, translate it to plain English and explain its ramifications to us Washington, USA residents. I would greatly appreciate this!
My goal on all of this is to avoid government tracking and taxation of Bitcoin. If I have to break the law, so be it. But I would rather circumvent it or bend it if at all possible. I refuse to let Uncle Sam into my virtual pockets! And as far as I am concerned, tracking what I use Bitcoin for requires a search warrant, I don't care what the law says!
So if you can help me understand how I can accomplish these goals with whatever rules they have in place in my country and state I would, once again, appreciate it.
Disclaimer: "I am not an expert or financial advisor. Please seek advice from a legally compliant local professional.Hoping someone here could link to this bill, translate it to plain English and explain its ramifications to us Washington, USA residents. I would greatly appreciate this!
My goal on all of this is to avoid government tracking and taxation of Bitcoin. If I have to break the law, so be it. But I would rather circumvent it or bend it if at all possible. I refuse to let Uncle Sam into my virtual pockets! And as far as I am concerned, tracking what I use Bitcoin for requires a search warrant, I don't care what the law says!
So if you can help me understand how I can accomplish these goals with whatever rules they have in place in my country and state I would, once again, appreciate it.
I'm simply here to give my two cents (opinion) on crypto related discussions."
It sounds like your asking people to incriminate themselves here in this thread. The choice is yours, whether you intend to fight the establishment or what not, but I reccomend you rethink your reproach. Before making any rash decisions, you might better have a look at this.
https://www.coindesk.com/us-congressmen-introduce-two-bills-to-prevent-crypto-price-manipulation
For now it is just a proposal for the bill. If your patient, you might not have to stress over many crypto activities. Though it is not a guarantee, it does establish hope, especially during these times of despair. This bill provides proof that the government and its representatives "are" taking foward action to work with the public within this relatively new innovative sector.
January 26, 2019, 09:01:12 AM
Still not sure what bill OP is referring to, but maybe this document from the IRS Guidance on Virtual Currencies is the only document you need to read - it doesn't just concern you as a Washington resident, but as US citizen: https://www.irs.gov/pub/irs-drop/n-14-21.pdf
More links available here: https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies
Also, if you don't want to cough up your dues, you can enter into self-exile and go into hiding. Maybe ask John McAfee for a seat on his freedomboat, sure he'd accept your precious Bitcoin. He also doesn't want to pay his taxes.
More links available here: https://www.irs.gov/businesses/small-businesses-self-employed/virtual-currencies
Also, if you don't want to cough up your dues, you can enter into self-exile and go into hiding. Maybe ask John McAfee for a seat on his freedomboat, sure he'd accept your precious Bitcoin. He also doesn't want to pay his taxes.
January 25, 2019, 10:36:06 PM
So apparently without voter knowledge or consent Washington passed some trading bill or law governing Bitcoin (and altcoin) in some way. I asked my mom to send me the link but I don't have it yet, it was at a site, Geek something or other and it had a link to the bill.
Hoping someone here could link to this bill, translate it to plain English and explain its ramifications to us Washington, USA residents. I would greatly appreciate this!
My goal on all of this is to avoid government tracking and taxation of Bitcoin. If I have to break the law, so be it. But I would rather circumvent it or bend it if at all possible. I refuse to let Uncle Sam into my virtual pockets! And as far as I am concerned, tracking what I use Bitcoin for requires a search warrant, I don't care what the law says!
So if you can help me understand how I can accomplish these goals with whatever rules they have in place in my country and state I would, once again, appreciate it.
Hoping someone here could link to this bill, translate it to plain English and explain its ramifications to us Washington, USA residents. I would greatly appreciate this!
My goal on all of this is to avoid government tracking and taxation of Bitcoin. If I have to break the law, so be it. But I would rather circumvent it or bend it if at all possible. I refuse to let Uncle Sam into my virtual pockets! And as far as I am concerned, tracking what I use Bitcoin for requires a search warrant, I don't care what the law says!
So if you can help me understand how I can accomplish these goals with whatever rules they have in place in my country and state I would, once again, appreciate it.
You are asking people how to commit a crime in a public forum basically, from what I understand? maybe not a crime but a felony, I don't know how that really works. The main point is, I don't think people is going to help you break the law, at least I will not. What you should do is comply with the law, is as simple as that. If you don't like the laws of your country, move to another country. In case of doubt, do not sell and hold the coins and figure out what you want to do.
In any case I will tell you one thing. If the way you obtained the coins aren't linked to your identity in any way then Uncle Sam has no idea about that, but as soon as you cash out you better pay all of your taxes.
January 10, 2019, 06:24:31 PM
So apparently without voter knowledge or consent Washington passed some trading bill or law governing Bitcoin (and altcoin) in some way. I asked my mom to send me the link but I don't have it yet, it was at a site, Geek something or other and it had a link to the bill.
Hoping someone here could link to this bill, translate it to plain English and explain its ramifications to us Washington, USA residents. I would greatly appreciate this!
My intention, what I will do with this, my goal on all of this is to avoid government tracking and taxation of Bitcoin. If I have to break the law, so be it. But I would rather circumvent it or bend it if at all possible. I refuse to let Uncle Sam into my virtual pockets! And as far as I am concerned, tracking what I use Bitcoin for requires a search warrant, I don't care what the law says!
I am not asking anyone here to do anything other than link to this law, if it exists, and explain it to me!
So if you can help me understand how I can accomplish these goals with whatever rules they have in place in my country and state I would, once again, appreciate it.
EDIT: I have edited this to clarify that all I am asking for is a link to this law and an explanation of it in plain English.
Hoping someone here could link to this bill, translate it to plain English and explain its ramifications to us Washington, USA residents. I would greatly appreciate this!
My intention, what I will do with this, my goal on all of this is to avoid government tracking and taxation of Bitcoin. If I have to break the law, so be it. But I would rather circumvent it or bend it if at all possible. I refuse to let Uncle Sam into my virtual pockets! And as far as I am concerned, tracking what I use Bitcoin for requires a search warrant, I don't care what the law says!
I am not asking anyone here to do anything other than link to this law, if it exists, and explain it to me!
So if you can help me understand how I can accomplish these goals with whatever rules they have in place in my country and state I would, once again, appreciate it.
EDIT: I have edited this to clarify that all I am asking for is a link to this law and an explanation of it in plain English.
Jump to: