5 year Market Outlook opinions
02-06-2021, 01:08 PM
#21
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Posts: 6,716
Originally Posted by JamesBond
I want to get in without a paper trail. Other than that, it is just like any other investment.
02-06-2021, 01:15 PM
#22
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Posts: 187
Originally Posted by JamesBond
I want to get in without a paper trail. Other than that, it is just like any other investment.
you can’t. That’s the point of blockchain. Every transaction is recorded.
Even if you buy private party the transfer would be forever recorded. No one would know you owned the wallet but you would need to find someone else private party to give you cash or an asset on the other end to remain “anonymous”.
this is the fallacy that some politicians have with Bitcoin being a black market currency. It’s way more traceable than cash transactions.
02-06-2021, 01:42 PM
#23
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Posts: 6,716
Originally Posted by DenVa
you can’t. That’s the point of blockchain. Every transaction is recorded.
Even if you buy private party the transfer would be forever recorded. No one would know you owned the wallet but you would need to find someone else private party to give you cash or an asset on the other end to remain “anonymous”.
this is the fallacy that some politicians have with Bitcoin being a black market currency. It’s way more traceable than cash transactions.
Even if you buy private party the transfer would be forever recorded. No one would know you owned the wallet but you would need to find someone else private party to give you cash or an asset on the other end to remain “anonymous”.
this is the fallacy that some politicians have with Bitcoin being a black market currency. It’s way more traceable than cash transactions.
02-06-2021, 01:58 PM
#24
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Joined APC: Aug 2014
Posts: 187
Originally Posted by OOfff
it’s easy to remain anonymous even if the transactions are verified across the chain
You and I could do a transaction without knowing each other. But, keeping that info from a government that wants to get it when there is a recording of all your transactions, might be more difficult.
02-06-2021, 02:05 PM
#25
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Posts: 6,716
Originally Posted by DenVa
Sure, right now. I mean no one knows who is behind a particular key. I assume JB is worried about some point in the future, if governments try to confiscate or heavily tax Bitcoin.
You and I could do a transaction without knowing each other. But, keeping that info from a government that wants to get it when there is a recording of all your transactions, might be more difficult.
You and I could do a transaction without knowing each other. But, keeping that info from a government that wants to get it when there is a recording of all your transactions, might be more difficult.
02-06-2021, 02:17 PM
#26
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Joined APC: Aug 2014
Posts: 187
Originally Posted by OOfff
buy at a Bitcoin ATM. Withdraw at a Bitcoin ATM. If you’re that worried about it. Especially if you’re buying to invest and not to use it for illicit activities
Personally, I don’t think any of it is enough to stop someone investing. It’s like saying I don’t want to make a million dollars because of the taxes.
Besides, if it gets heavily taxed it will, most likely, be at the transaction level. If the government tries to outlaw it, just spend it in another country.
02-06-2021, 03:21 PM
#27
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Joined APC: May 2015
Position: A350 Both
Posts: 7,292
Originally Posted by DenVa
you can’t. That’s the point of blockchain. Every transaction is recorded.
Even if you buy private party the transfer would be forever recorded. No one would know you owned the wallet but you would need to find someone else private party to give you cash or an asset on the other end to remain “anonymous”.
this is the fallacy that some politicians have with Bitcoin being a black market currency. It’s way more traceable than cash transactions.
Even if you buy private party the transfer would be forever recorded. No one would know you owned the wallet but you would need to find someone else private party to give you cash or an asset on the other end to remain “anonymous”.
this is the fallacy that some politicians have with Bitcoin being a black market currency. It’s way more traceable than cash transactions.
And the big question is how would the government tax such transactions? I have always had the same question about physical gold. How do they know how much you paid for it? All my records are lost with my guns in a tragic boat fire... tomorrow.
02-06-2021, 03:42 PM
#28
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Joined APC: Sep 2019
Posts: 1,538
Originally Posted by JamesBond
No, you don't understand. I don't want a paper trail the government can follow. I don't want to buy it thru a broker or anything like that. I want to buy it with cash.
And the big question is how would the government tax such transactions? I have always had the same question about physical gold. How do they know how much you paid for it? All my records are lost with my guns in a tragic boat fire... tomorrow.
And the big question is how would the government tax such transactions? I have always had the same question about physical gold. How do they know how much you paid for it? All my records are lost with my guns in a tragic boat fire... tomorrow.
The government has basically destroyed privacy through FATCA. The countries that still don't bow to it are basically black listed from all the countries that do. The law says that you have to report all assets including Bit Coin and any bank accounts you have anywhere in the world. If you don't and they catch you they will take half as an opening salvo then there is IRS court where anything goes except rights.
02-06-2021, 03:51 PM
#29
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Joined APC: May 2015
Position: A350 Both
Posts: 7,292
Originally Posted by Seneca Pilot
The government has basically destroyed privacy through FATCA. The countries that still don't bow to it are basically black listed from all the countries that do. The law says that you have to report all assets including Bit Coin and any bank accounts you have anywhere in the world. If you don't and they catch you they will take half as an opening salvo then there is IRS court where anything goes except rights.
02-06-2021, 04:02 PM
#30
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Joined APC: Sep 2019
Posts: 1,538
Originally Posted by JamesBond
I notice that there is a new line on the 1040 regarding virtual currency. LOL Like I would ever answer yes to it. The socialists are going to do their very best to steal as much as they can from us going forward.
I won't get too specific here but you can do research. There are strategies.
www.nomadcapitalist.com
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