A Thought Experiment on Tax Evasion

>>3140817
just buy random commodities online with your crypto

like 10 grams of 4acodmt, sell that to your friends and make 1000x gains off your 1000x gains

>>3140817
What exchange did u use to buy BTC to begin with and did u provide ur details?
(Ofc you did) either way unless u made hundreds of thousands you should be alright.

Your plan might be useful if you want some play money but if you want to buy any serious shit (property, fleets of lambos) then its going to have to be deposited into an account at some point.

Here is an alternative I considered: (it may vary depending on your local laws) We pay no tax on capital gains on collectables in Australia. Instead of buying gold bars, buy old stamps or rare bank notes ect. Say your grandfather gave them to you or some similar shit and you should be right to bank the profits.

File: bahamas-intro.jpg (283KB, 1600x900px) Image search: [Google]

283KB, 1600x900px

Go on vacation to the Bahamas and open a bank account there. The Bahamas doesn't have any income tax. Convert your bitcoin to Bahamanian currency. Marry a nice Bahamanian woman and spend the rest of you life in the Bahamas. Problem solved.

>>3140817
you literally just explained why monero is the future.

>>3140817
Congrats, you have now added money laundering to your list of offences.
>>Buy 1oz gold bars from online retailer. Never buy more than 10k to avoid tax paperwork
This is also retarded, govt can just confiscate all your assets on the basis of anti-structuring laws.
Just do btc>monero>btc and keep it in btc for the rest of your life, or move to a country with no capital gains tax.

>>3140940
But it isn't income until you sell the gold, right? It's just trading one commodity for another commodity of equal value, so structuring laws and taxes don't apply. They apply when you sell the gold coins for dollars, but coin shops don't even create records for small transactions, and they certainly don't ask for ID.

>>3140926
>Marry a nice Bahamanian woman
ewww

1 quick glance at ddg's image page for that, no fucking thank you.

File: tenor.gif (405KB, 400x300px) Image search: [Google]

405KB, 400x300px

>>3140977

>>3140817
Yeah you could do that. The IRS probably won't even care that much. There are a lot of people already avoiding taxes in crypto. They are interested in people doing that with 100k+ and probably more like 1m+

Someone else pointed out, you can't buy anything real with cash. You can't get a mortgage or buy a house, so there's really no point unless you are talking about small amounts. I'd rather pay the taxes because I can show income and actually get a damned house.

>>3140978
well, your choices for countries with no income tax are:
Bahamas
Bahrain
Bermuda
Brunei Darussalam
Cayman Islands
Kuwait
Qatar
Oman
Saudi Arabia
United Arab Emirates

>>3141025
I bought a house with cash. 34K out of foreclosure

File: The Diz.jpg (35KB, 525x463px) Image search: [Google]

35KB, 525x463px

>>3140909
>>3141025
I have a day job for house/car. I'm not one of those loons that thinks I'll be a millionaire by age 30 if I pick the right shitcoin. I'm mostly concerned with supplementing my income by about 20% so I can breathe easy. I want a nice upgrade for my computer, a two week vacation, and to never have to worry about the grocery bill. Nothing spectacular.

If I somehow make it to 500k+ by the end of the decade, then I'll worry about my change in tax status. That and I have faith that the tax code will be smoothed out in the not too distant future. The general idea is to not get greedy and remain a small fish for the foreseeable future. There are no smart felons, because smart thieves don't get caught.

>>3140940
>Congrats, you have now added money laundering to your list of offences.
No fucking shit.

>>3140977
This is my general thought. The only weak link I'm seeing is if (((they))) somehow managed to link me to the laundering account. There's a couple extra steps I could take there though.

>>3141042
It doesn't matter. You have to report your income to the IRS no matter where you live in the world.

i'm just going to pay my fucking taxes and take the hit

i want to move it to safer investments when all is said and done, index funds, retirement accounts, bonds, property

as others have said you can't do that without taking the fucking hit.

>>3140978
If you have retire-in-the-Bahamas money, you can pretty much take your pick of the women there. I don't have jungle fever but a jewgle image search shows quite a few qts.

>>3141142
Even though I'm an ausfag, I religiously lodge my 1040 every year because someone has to pay for the world's police. Only a parasite wouldn't.

File: 1495175927234.png (10KB, 427x451px)

10KB, 427x451px

>>3141042
ehhhhhh

those dont sound very white

>>3141196
>white non-zogged nations exist

File: 1503230957884.png (163KB, 512x512px) Image search: [Google]

163KB, 512x512px

>>3141208
a man can dream

>>3141125
I'm suggesting buying a stack of PM coins with your bitcoins online. They'll deliver to your house. I'm not an accountant, but I don't believe that trading one commodity for another (bitcoins for real coins) has any tax implications, otherwise we would have to pay tax everytime we traded BTC for ETH or whatever. Once you have the real coins, sell them in small amounts for cash at coin shops, cash for gold places etc. You'll get raped on conversion fees instead of taxes, but there's no paper trail except with the online coin shop you bought from, which is probably run by some libertarians out of a bunker in Nevada. If the IRS asks what happened to the gold coins you bought (scratch that, traded for) the bitcoins, say you traded the gold eagles to hookers for blowjobs or buried them in a treasure chest on an island somewhere but lost the map, there's no auditable paper trail and if you aren't buying lambos etc but using the cash for groceries and gas they can't prove anything.

>>3141235
PM stackers have a meme where they frequently "lose" their entire collection of gold and silver in "boating accidents"

a shame but I guess its a risk you take with physical metals ;)

>>3141235
Is there any benefit to buying coins versus 1oz bars? I don't see the difference and I'd like to not have to carry around a dozen loose pieces.

>>3141606
an ounce of silver is an ounce of silver, you can get plastic cases for bars and coins/rounds

File: 1499896041647.png (205KB, 699x523px) Image search: [Google]

205KB, 699x523px

>>3140822
i like the drugs route, find near you who accepts monero, buy with monero, flip for cash... another way to 1000x your 1000x gains