>people here don't realize that "crypto lawyers" will become an insanely lucrative field >people here don't realize the more government tries to clamp down, the more subversive and clever the technology will become, exploiting every loophole possible >people here don't realize that there are ALREADY an insane amount of loopholes with this asset class, making every crackdown case a potentially long and winded one, with crypto holders already being very libertarian and willing to fight for their rightful privacy and sovereignty >people here don't realize tax FUD is similar to the "you wouldn't steal a car" campaign when online piracy became huge >people here don't realize that decentralized exchanges with USD pairs will make it unironically impossible to track things
Honestly if they bust one of us, they'll have to bust us all. 0.06% of crypto holders reported to the IRS any crypto related holdings last year. Among hundreds of thousands. If they have the technology and foresight to actually crackdown (which a government agency doesn't at this scale) they would have to start "busting" literally millions of people over BILLIONS of transactions. They had to take coinbase to court just to get identities of people who put more than $20K into crypto in a specific time interval. You think they're concerned over your 5 figure stack in some wallet? There are already hundreds of BTC millionaires who have actually cashed out and realized gains that have gone under the radar. That would be their priority. Once you see the first set of BTC millionaires (likely from before 2017) get their mansions seized, then you can up the ante with your FUD.
Brody Foster
says the guy whos gay
Daniel Johnson
WTF delete this bro I'm not gay!
Isaiah Davis
all they have to do is ban banks from allowing customers to purchase or receive money from cryptocurrency markets
Grayson Roberts
>people here don't realize that decentralized exchanges with USD pairs will make it unironically impossible to track things
And that is why coinmetro will take off. EUR and USD pairings with crypto, decentralized exchange, run by experienced people who ran a forex website for 8 years successfully
Charles Rodriguez
Exactly. They either have to ban everything outright or ATTEMPT a centralized control strategy for a fundamentally decentralized system. Unless every one is a redditcuck and reports every single crypto2crypto trade, only a minority will be fudded into the absolute tyranny and surveillance state the govt is hoping for
Robert Mitchell
which do you think will be more profitable: >crypto lawyers you've just described >anti-trans rights lawyers that sue the dogshit out of parents, doctors, hospitals, insurers, etc, that decided it was a good idea to give pre-pubescent boys exogenous female hormones that cause permanent physiological change
Daniel Sanders
Probably the first one
Christopher King
Bump. Or are we using tax FUD to accumulate while reddit cattle cash in 60% of their gains to pay the tax man?
Joseph Powell
It is IMPOSSIBLE to be under the radar about cashing out a million+ in fiat from crypto's due to it being on your bank record and they will freeze the account instantly as they mistake it for money laundering.
Evan Ward
Sounds like piracy. Some days you read on the news a student went to court and got fined for downloading 10 songs but most pirates have had no issues. Also, with a big shutdown, the idea of a black market boom is pretty hype.
Samuel Phillips
HEY
the statute of limitations on unpaid taxes has no expiration date
if you're going the evasion route, pay a smaller amount than you actually owe because a) that starts the statute of limitations timer of 3 years and b) they'll see you paid SOMETHING and you'll have a smaller target on your back
Carson Smith
Bullish
Sebastian Wood
holy shit OP BTFO
Carson Powell
This would insure banks are made obsolete in 20-30 years outright though. They have to keep it legal for any hope of co-opting blockchain.
Ian Bailey
I'm NOT trying to even evade taxes.
Christopher Myers
before i cash out i'm planning on contacting my credit union, explaining that they should be expecting a large deposit, and i will be providing proof that it's not money laundering.
Andrew Fisher
This. Another underlying point I'm trying to get at. There's a lot of 'gotchas' in terms of regulations that they can try to slip through but in the end they're shooting themselves in the foot. They can try to fuck us into submission but in the end we will win.
Grayson Gonzalez
>Once you see the first set of BTC millionaires (likely from before 2017) get their mansions seized
uh huh. don't wait until this.
Thomas Rodriguez
So you are on the radar and have to pay taxes on it.
Jeremiah Torres
I'm already running a crypto hedge and have people wanting in
James Hernandez
What?
Adrian Brooks
Anyone afraid of the gov't is retarded. Unless you hit the multimillion club you won't even get a second look. Look how long it took the gov't to shut down the silk road. We will only get better at dodging the man.
Pic related if any of you did actual research.....
John Campbell
I'm in my last year of law school and I'm working toward positioning myself in the crypto area post graduation. I'm starting to learn code on the side so that I'll be able to program or at least understand smart contracts.
Since no one at my school of 180 is doing this as well I'm assuming it's just as rare at other schools.
Hopefully this plan works out for me. If not at least I'll be rich off of LINK and REQ