Sup /Biz/ Several of the largest online bullion brokers are

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>trading cryptos for gold

what a shitty deal

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>where did you get those ingots?
<huh, I just ...mined them
>ok then
You really think the IRS is this stupid? No one would pay taxes on anything if it were that easy.

>>2284204
Gold transactions under 10k in USD do not have to be reported to the IRS.

>>2284204

>Gold bars lying in a basement
>IRS has xray vision and knows that they are there.

If you dont flaunt your riches, the boys in dark blue wont know that they are there.

Just sell the gold to jewelers in small portions if you need money and have them pay you cash.

Use the bitcoingold to pay your living expenses and save up your regular income.

>>2284195
"local cash for gold places will pay paper cash"

Think you missed that part.

the paper trail is the bitcoin for gold place's business records. if the irs scoops them up you're fucked. other than that it's a fine plan if you want to pay cash and never touch a bank.

>>2284223
Why would anyone not break up their transactions in 10k chunks then?
This all sounds retarded.

>>2284392
There are a lot of big fish out there. People who own a lot of gold aren't going to want to make tons of repeat transactions of 4 or 5 ounces and gold brokers would get weird about someone trying to do this 100 times.

>>2284437

Different brokers, different names (using family members etc), different amounts.......

Hiding that shit is easy.

The IRS isn't going to open a fucking investigation into some kid, who bought a 100k worth of gold, where you need multiple agents and tons of resources, just to compile the information (which has to be gathered in different states in the worst case scenario).

They are busy with the big fishes and only go after small time stuff if you are stupid.