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by FireBeyond 505 days ago
So your one good use is... tax evasion. Huh.

It's not illegal to move money out of your investment accounts, it's just reported so that yes, you can have a tax liability.

I too, would like tax-free investments and funds.

2 comments

One man tax evasion is another man escape from illegitimate capture.
Yes! That's my one good use! :)

Seriously, that's all I got.

I think the government is figuring this out and has access to a lot of info about BTC from the Binance settlement. That's just speculation on my part, it may not be true.

What I think a lot of people don't realize is that the US government is not very interested in going after people who do tax evasion in the $5-50 m range. People like that can afford lawyers and representatives, it will take years, and never get any headlines. They love to go after people for $5-50k evasion because they just get paid.

And it doesn't work unless you buy your bitcoin peer to peer, as any exchange will just leave a log relating your buying to your wallet, and liquidate it peer to peer as well. Any transactions with regulated institutions will doxx your wallet and then it's over, you can't use those funds anymore without being tracked (or at least trackable) by the feds.