The IRS wants it's piece of your pie and is gonna get it

>>1877809

link for op http://fortune.com/2017/03/19/irs-bitcoin-lawsuit/

So the takeaway from this is to use european based exchanges?

>>1877809
>bought all my btc with tor with eth i mined with a gpu i bought used with cash
>don't even live in the us
Who's laughing now?

>>1877882
Or move to europe

>>1877809
Or don't use Coinbase
Or Kraken. I never trusted them with my ID in the first place.

>>1877906
Coibase fags can get buttraped for all i care. It serves them right for willingly being cucked.

I obtained all my bitcoins by working for them, and i only use exchanges which only require an email to sign up. Then i hawk my btc p2p using various platforms like localbitcoins. Add to that the fact that i live in a deregulated european country.

>>1877898
>Or move to europe
...where bitcoin gains are taxes as well.

My (EU) country taxes is like gold or other speculative currency gains - if I sell within 12 months I have to pay capital gains tax. If I hold for more than 12 months, it's tax free. But if cryptos get popular they'll probably change that too I reckon.

>>1877882
>>1877891
>>1877936

Enjoy your time in the sun while you still can. The point is that government institutions cannot and will not ignore the massive amount of tax fraud and criminality that cypto currency facilitates.

Everyone playing with crypto is living on borrowed time.

>>1879585
So wht ur saying is buy a ton now.. i predict tht the start of a bill to bandaid this problem will happen by the end of this year.. this means we will see a huge rise in all bitcoins meaning we should invest a ton now, from tht point out another factor tht fluctuates the price of crypto coins will be added(the bill)

>>1879655

If you think that governments would be so altruistic as to unfuck the tax code or the hoops you have to jump through to report and pay your share I got a bridge to sell you.

What i'm saying is that if you wan't to avoid the hammer see if you are under an obligation to report capital gains and talk to a tax expert about amending your returns.

The IRS can penalize you and out right seize your assets for inaccurate reporting. I'm sure the equivalent will stand for Europeans.

>realizing gains
>not hodling

>>1877891
The first part is irrelevant. If you exchange it for a monetary instrument, it can be taxed. What you're claiming is the equivalent of growing crops on your land with seeds you found. If you sell the crops, you must claim the proceeds as income less costs. Essentially you're setting the cost basis for your capital gains at 0 which is tax inefficient. If it's any sizable amount of cash, they will find you. If it's meme bux then you're safe.

You're not going to claim taxes anyway, but at least you learned something.