Topic: Do you agree if coinbase/exchangers give the data of costumers to IRS/government - page 2. (Read 2211 times)
December 01, 2016, 06:20:00 PM
I really disagree with this statement from coinbase. Though I used coinbase before but never this time. And I guess users of coinbase will shift to other platforms specially those who don't want this idea if coinbase but to those who give already their identity I guess its really expected as it is an exchange but I totally don't really like this they simply destroy bitcoin.
December 01, 2016, 06:04:02 PM
Even though I'm not using coinbase, I don't agree with this. It is against the privacy of all their customers. But it seems high powers are already asking for it. Many of coinbase customers that has shady transactions will shift into other site and will totally forget using coinbase. Does coinbase can't do something about this to stop IRS from forcing them?
December 01, 2016, 04:23:21 PM
Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem.
If you don't live in the US or make money in the US the IRS doesn't care about you. So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you.
What is worrisome about this development, is that government from other countries are watching to see how it all unfolds and are sure to tow same line, should it see the light of the day in the U.S. I am strongly against this move and I urge all those still patronizing centralized exchanges to please procure wisdom and understanding as the real fight goes beyond coinbase.
December 01, 2016, 02:20:03 PM
Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem.
If you don't live in the US or make money in the US the IRS doesn't care about you. So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you.
How fortunate sometimes for us who aren't American citizens that these issues cannot affect us directly in this lifetime.
Nevertheless, I have never agreed to the sharing of personal data simply because for bitcoin at least, I am here for its anonymity and decentralisation.
I want to be left alone, and I want to leave alone.
That's exactly my point! If you "never agreed to the sharing of personal data..." then you wouldn't need to worry because you would never have given coinbase your personal data.
December 01, 2016, 10:01:42 AM
Although almost all of users of bitcoins dissagree coinbase gives data costumers to IRS (include me) but today A Judge Just Cleared the Way for the IRS to Seek Coinbase Customer Data and it is not about agree or dissagree it is about rules of USA and taxes must be paid by users bitcoins, this is the details.
http://www.coindesk.com/bitcoin-judge-approved-irs-coinbase-users/
http://www.coindesk.com/bitcoin-judge-approved-irs-coinbase-users/
November 29, 2016, 07:39:10 AM
But, the problem with this is, they're basically fishing. Instead of asking for the records of the persons they've been tracing/suspect, they ask for ALL U.S. citizen's records/transactions/trades.
If they were really just after some big time tax evaders, then why not just ask for the for those specific people?
they might be deliberately fishing ie maybe find someone in the coinbase records they didnt know about thats worth going after.
btw i have no problem with it. i use them and i pay taxes on btc, so no worries here.
November 28, 2016, 11:32:56 PM
It was only a matter of time before the IRS start interest in Bitcoin users,now they are interested in Coinbase and probably will be in the future even more interest in this matter.We are accustomed to using BTC anonymously,but with day by day increasing of using cryptocurrency I think most governments will seek a way to charge tax on BTC.
This is not an easy job for them and they likely target some big users who earn big money and not pay tax.
This is not an easy job for them and they likely target some big users who earn big money and not pay tax.
Yes, it was only a matter time till the IRS goes after bitcoiners since they know how easy it would be to evade tax with it.
But, the problem with this is, they're basically fishing. Instead of asking for the records of the persons they've been tracing/suspect, they ask for ALL U.S. citizen's records/transactions/trades.
If they were really just after some big time tax evaders, then why not just ask for the for those specific people?
November 28, 2016, 12:30:06 PM
It was only a matter of time before the IRS start interest in Bitcoin users,now they are interested in Coinbase and probably will be in the future even more interest in this matter.We are accustomed to using BTC anonymously,but with day by day increasing of using cryptocurrency I think most governments will seek a way to charge tax on BTC.
This is not an easy job for them and they likely target some big users who earn big money and not pay tax.
This is not an easy job for them and they likely target some big users who earn big money and not pay tax.
November 28, 2016, 05:29:36 AM
We can say that we are again it all we want but there is very little we can do, if they have right they will have all information.
I sure hope you are right im not US citizen and hope that this article is correct.
Personality i don't agree with IRS about taking indentity of costumers coinbase, unfortunately as you said we cloud not did anything about this problem, at least with share this informations there are something doing for bitcoins and other digital currencies and about the article i hope it is correct too. Actually coinbase it self against and dissagree, what was done by IRS and it is still in proggess on court, and there are many debates that will need much time. But the final answers is on court, and i think the data will be given to IRS are american costumers only, for other details can be checked on here.
http://www.newsbtc.com/2016/11/27/irs-could-have-done-better/
http://www.newsbtc.com/2016/11/27/irs-could-have-done-better/
I sure hope you are right im not US citizen and hope that this article is correct.
November 28, 2016, 03:17:37 AM
Nevertheless, I have never agreed to the sharing of personal data simply because for bitcoin at least, I am here for its anonymity and decentralisation.
I understand, and support that. My point is, for someone like you, this decision is meaningless because you wouldn't be using Coinbase (since they require your personal data) or banks (because they require your personal data).
November 28, 2016, 02:56:34 AM
We can say that we are again it all we want but there is very little we can do, if they have right they will have all information.
I sure hope you are right im not US citizen and hope that this article is correct.
Actually coinbase it self against and dissagree, what was done by IRS and it is still in proggess on court, and there are many debates that will need much time. But the final answers is on court, and i think the data will be given to IRS are american costumers only, for other details can be checked on here.
http://www.newsbtc.com/2016/11/27/irs-could-have-done-better/
http://www.newsbtc.com/2016/11/27/irs-could-have-done-better/
I sure hope you are right im not US citizen and hope that this article is correct.
November 28, 2016, 01:20:17 AM
Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem.
If you don't live in the US or make money in the US the IRS doesn't care about you. So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you.
How fortunate sometimes for us who aren't American citizens that these issues cannot affect us directly in this lifetime.
Nevertheless, I have never agreed to the sharing of personal data simply because for bitcoin at least, I am here for its anonymity and decentralisation.
I want to be left alone, and I want to leave alone.
November 28, 2016, 01:16:47 AM
Actually coinbase it self against and dissagree, what was done by IRS and it is still in proggess on court, and there are many debates that will need much time. But the final answers is on court, and i think the data will be given to IRS are american costumers only, for other details can be checked on here.
http://www.newsbtc.com/2016/11/27/irs-could-have-done-better/
http://www.newsbtc.com/2016/11/27/irs-could-have-done-better/
November 28, 2016, 01:04:27 AM
Well, of course I am against this kind of practice. But little can we do, if authorities ask for it exchanges must comply, that is the law, unfortunately.
I am not sure that you knew but every piece of information about users of Mt.Gox was forwarded to American authorities and Kraken exchange, it might be used in the future.
In fact, expect that your whole trading history or personal information stored by major exchanges can be at some point shared with IRS.
I am not sure that you knew but every piece of information about users of Mt.Gox was forwarded to American authorities and Kraken exchange, it might be used in the future.
In fact, expect that your whole trading history or personal information stored by major exchanges can be at some point shared with IRS.
November 28, 2016, 12:53:44 AM
disagree with this because one of the main reason i use bitcoin besides anonymity is i got fully control of my bitcoin and this is the benefit using bitcoin and i do like this feature and if government starting to collect the data of costumers It means they trying to control our bitcoin and i don't like it
November 27, 2016, 11:27:11 PM
Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem.
If you don't live in the US or make money in the US the IRS doesn't care about you. So you have no reason to distrust (or for that matter trust) the IRS because they have no business with you.
November 27, 2016, 11:00:51 PM
Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem.
November 27, 2016, 03:00:50 PM
Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem.
Purpose of bitcoin is to avoid something like that. To be anonymous so IRS don't know who to charge. Endpoint where it stops being anonymous is exchange where it's easy to track. Of course most of the people is going to see that as problem. Why do you even use bitcoin anyway ?
I use bitcoin to help facilitate what I do for a living (play poker).
But you are ignoring reality. Yes, bitcoin is anonymous. And it's great! But when you are selling your bitcoin on an exchange where you have to doxx yourself, and have it to go a bank account where you've doxxed yourself...you are no longer anonymous! If you want to stay anonymous, you have to sell it p2p, you can't use any company where you have to identify yourself, right? You can't get mad at companies that have to abide by laws of their jurisdictions.
Also, if you are dumping a ton of money into your bank account and think the IRS will never know about it...you're wrong.
November 27, 2016, 09:35:11 AM
I absolutely not agree, I am using bitcoin because I want freedom and I don't want anybody to peek or interfere into my wealth, so if the exchanger give all the record to the government then the government will be able to trace out transaction and all of our money, then it will be the same with transaction using fiat
November 27, 2016, 08:33:36 AM
Most of you say don't care, if you don't like them don't use them. But think about users that earn a lot of bitcoin every month. Operator of mining farm for example. There is no way for him to get BTC exchanged to local currency since most of guys won't accept large amounts if the tries to trade P2P. A lof of users are forced to use exchanges (any of them) and it's expected that government is going to try to take control of that
...so? If you live in the US you have to pay taxes. It doesn't matter how you made the money, you pay taxes on it. I don't see the problem.
Purpose of bitcoin is to avoid something like that. To be anonymous so IRS don't know who to charge. Endpoint where it stops being anonymous is exchange where it's easy to track. Of course most of the people is going to see that as problem. Why do you even use bitcoin anyway ?
I think its not the only purpose of bitcoin and surely the legacy of satoshi is to create an e currency breakthrough who's stronger and be used by many people and its anonimosity is just a feature folloe by that, and for me im neutral with the topic below since if you mean wallet provider well ask kyc then i think its totally fine, but if the exchanger required the kyc well thats another part of the story, i dont gamble my faith for that one since exchangers are prone to attacks.
I didn't say it was the only purpose but that's one of reasons bitcoin exists. No IRS, no banks, low fees, anonymity that's all what Bitcoin should be (yeah i said should be). If they are going to control it , tax it, there is no reason to use BTC. Why should't I use my local currency instead ?
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