Do NOT declare that you have ever owned bitcoins - page 3.

Tornston

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Quote from: Kaiji on April 27, 2013, 12:18:16 PM

The biggest problem governments will have with bitcoin is the anonymity involved in transactions. They will point to money laundering and criminals using it as an untraceable medium of wealth as the reason to shut it down. Without that they won't have leg to stand on in a court of law. You'd think there aren't any real money laundering operations to warrant gov scrutiny.

People should pay taxes on bitcoins. It's probably the only thing that can prevent a complete shutdown.

I suppose it's not real
paying transactions on btc means all governmental transactions become transparent
they won't do this

Come-from-Beyond

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Quote from: franky1 on April 27, 2013, 04:43:25 PM

lol worst advice ever is to say dont declare bitcoins. especially when the reasons of not declaring them is advice from a person that has not read the regulations, does not understand fincen and then goes on a power trip thinking they will cripple the world at some point.

major face palm.

i don't advise not declaring bitcoins. in as much as tins of baked beans. if the government ask how many you have.. just say what you have. so far governments are not asking. so there is nothing to worry or think about right now... but by lying for any reason if they ever do start asking can cost you alot more in the long run, instead of just telling the truth.

this is where exchanges go wrong, they dont read regulations, they don't follow the rules they lie when questioned.. and then everyone wonders why they get shut down

I believe my advice is a good one. I may be wrong.

franky1

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lol worst advice ever is to say dont declare bitcoins. especially when the reasons of not declaring them is advice from a person that has not read the regulations, does not understand fincen and then goes on a power trip thinking they will cripple the world at some point.

major face palm.

i don't advise not declaring bitcoins. in as much as tins of baked beans. if the government ask how many you have.. just say what you have. so far governments are not asking. so there is nothing to worry or think about right now... but by lying for any reason if they ever do start asking can cost you alot more in the long run, instead of just telling the truth.

this is where exchanges go wrong, they dont read regulations, they don't follow the rules they lie when questioned.. and then everyone wonders why they get shut down

odolvlobo

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Quote from: virtualmaster on April 27, 2013, 02:36:40 PM

Quote from: debianlinux on April 27, 2013, 12:24:52 PM

No one owns Bitcoins. Bitcoins are represented n the blockchain which is distributed free of charge to anyone willing to download it.

Some may claim ownership of private keys, however.

That is a valid point.
Whatever you say that you have bitcoins or not both can be truth in the same time from a different point of view.
However best if you don't say to the police both on the same day because you will confuse them.

It is not a valid point. It is the same as saying that no one owns dollars. You possess a private key that signifies ownership of the bitcoins it represents.

Mike Christ

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Quote from: Twerka on April 27, 2013, 02:50:51 PM

Quote from: The 4ner on April 27, 2013, 01:06:49 PM

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Right now there is a debate about a law to make internet service give goverment information about what are people watching on internet.

Anyway, nobody wants this law, but it is been debated. Thought it was a democracy, am I wrong?

A democracy is just a front; really, you elect a few jerkoffs to decide how you live your life, and most of them are jerking each other off already. If CISPA passes into law, there should be no doubt in anyone's mind that the government is actively working against its citizens (though many of us already know this to be the case), and I doubt people will put up with it for long.

You know the straw that broke the camel's back? CISPA might be that straw.

Twerka

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Quote from: The 4ner on April 27, 2013, 01:06:49 PM

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Right now there is a debate about a law to make internet service give goverment information about what are people watching on internet.

Anyway, nobody wants this law, but it is been debated. Thought it was a democracy, am I wrong?

Frozenlock

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Quote from: virtualmaster on April 27, 2013, 02:36:40 PM

However best if you don't say to the police both on the same day because you will confuse them.

Yeah, they get angry when they don't understand something. Cheesy

virtualmaster

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Quote from: debianlinux on April 27, 2013, 12:24:52 PM

No one owns Bitcoins. Bitcoins are represented n the blockchain which is distributed free of charge to anyone willing to download it.

Some may claim ownership of private keys, however.

That is a valid point.
Whatever you say that you have bitcoins or not both can be truth in the same time from a different point of view.
However best if you don't say to the police both on the same day because you will confuse them.

Anon136

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Quote from: hugolp on April 27, 2013, 12:22:29 PM

Quote from: tutkarz on April 27, 2013, 11:37:26 AM

Quote from: Come-from-Beyond on April 27, 2013, 11:33:18 AM

Quote from: tutkarz on April 27, 2013, 11:31:54 AM

Yes but i dont really care. We can always change government. Dont forget about this too. And i hope they wont forget about this also. People are real power and nobody ever won with people.

U r lucky one. Most of ppl unable to change their government.

I said WE not me. And i understand that people THINK they cant change anything. But its false statement.

I hope you are not refering to voting, because then we are all doomed.

rofl i didnt even think about that, i just assumed he meant moving away. But now that you point it out, im sure thats exactly what he meant. Roll Eyes

Mike Christ

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Quote from: Come-from-Beyond on April 27, 2013, 01:25:09 PM

Quote from: Mike Christ on April 27, 2013, 01:22:27 PM

Do no fear your government. Your government should be pissing their pants with the thought of you.

Maybe should, but they surely don't.

Means it's time for a revolution Grin

They really don't fear us anymore. We need to remind them why they should.

Come-from-Beyond

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Quote from: Mike Christ on April 27, 2013, 01:22:27 PM

Do no fear your government. Your government should be pissing their pants with the thought of you.

Maybe should, but they surely don't.

Mike Christ

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Do no fear your government. Your government should be pissing their pants with the thought of you.

dodegkr

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Quote from: Kaiji on April 27, 2013, 12:18:16 PM

The biggest problem governments will have with bitcoin is the anonymity involved in transactions. They will point to money laundering and criminals using it as an untraceable medium of wealth as the reason to shut it down. Without that they won't have leg to stand on in a court of law. You'd think there aren't any real money laundering operations to warrant gov scrutiny.

People should pay taxes on bitcoins. It's probably the only thing that can prevent a complete shutdown.

Lets be realistic, bitcoin is not really anonymous as the humans using it are leaving traces all over the place.
That was shown at 28c3 in 2011 http://www.youtube.com/watch?v=-FaQNPCqG58 00:42:35

Realpra

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Quote from: The 4ner on April 27, 2013, 01:06:49 PM

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Yes. That is why this news just makes me smile.

I'm looking forward to the failures, trials and salty tears of so many politicians in coming years.

Do you have any idea how long time, I have hated these ignorant lying bastards? Finally we get to f*ck them back.

Come-from-Beyond

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Quote from: The 4ner on April 27, 2013, 01:06:49 PM

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Bitcoin is NOT anonymous. It's pseudonymous. If at some point u reveal ur name then ALL transactions can be tied to it. Even if u use "shared" wallets.

More info that proves that Bitcoin is not anonymous - http://spar.isi.jhu.edu/~mgreen/ZerocoinOakland.pdf.

Abdussamad

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Quote from: The 4ner on April 27, 2013, 01:06:49 PM

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

All the information is public isn't it? All transactions are recorded in the blockchain which anyone can view. All governments have to do is develop a computer program to track those transactions and match them to individuals and businesses. If you've ever published a bitcoin address in public the govt. could use that information to track your transactions. It may not be able to get a complete picture but a partial one is definitely possible.

The 4ner

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R.I.P Silk Road 1.0

How can a nation tell who's using crypto currency? Isn't there a level of anonymity that will make it cumbersome trying to pinpoint who to tax?

Notanon

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Quote from: Kaiji on April 27, 2013, 12:18:16 PM

The biggest problem governments will have with bitcoin is the anonymity involved in transactions. They will point to money laundering and criminals using it as an untraceable medium of wealth as the reason to shut it down. Without that they won't have leg to stand on in a court of law. You'd think there aren't any real money laundering operations to warrant gov scrutiny.

People should pay taxes on bitcoins. It's probably the only thing that can prevent a complete shutdown.

Wasn't there a ruling by FinCen not too long ago stating something to the effect of declaring what is converted back to fiat for capital gains purposes, meaning it's semi-legit in the US?

debianlinux

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No one owns Bitcoins. Bitcoins are represented n the blockchain which is distributed free of charge to anyone willing to download it.

Some may claim ownership of private keys, however.

hugolp

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Radix-The Decentralized Finance Protocol

Quote from: tutkarz on April 27, 2013, 11:37:26 AM

Quote from: Come-from-Beyond on April 27, 2013, 11:33:18 AM

Quote from: tutkarz on April 27, 2013, 11:31:54 AM

Yes but i dont really care. We can always change government. Dont forget about this too. And i hope they wont forget about this also. People are real power and nobody ever won with people.

U r lucky one. Most of ppl unable to change their government.

I said WE not me. And i understand that people THINK they cant change anything. But its false statement.

I hope you are not refering to voting, because then we are all doomed.

Topic: Do NOT declare that you have ever owned bitcoins - page 3. (Read 6538 times)