How could i cash out my bitcoin without the irs finding out? Seems the KYS Know Your Customer requirements mean that i will always have a tax reportable event, even if i buy something online with bitcoin in an attempt to leave the government out of it. Bitcoin may have been valuable on the silk road for anonymous transactions but isn't valuable if my identity and amount of transaction is reported to IRS every time i try to buy something with bitcoins. I might as well just cheer for the CBDC when i'm giving up that much privacy in my personal financial transactions.
You can sell BTC for cash anonymously with another person who has a wallet. So it's the same as gold. But unlike gold, you can trade anonymously virtually, whereas with gold you have to make physical contact with the other party.
If gold was more secure and anonymous, criminals would prefer it over BTC but that's not the case. This should be proof enough.
How could i cash out my bitcoin without the irs finding out? Seems the KYS Know Your Customer requirements mean that i will always have a tax reportable event, even if i buy something online with bitcoin in an attempt to leave the government out of it. Bitcoin may have been valuable on the silk road for anonymous transactions but isn't valuable if my identity and amount of transaction is reported to IRS every time i try to buy something with bitcoins. I might as well just cheer for the CBDC when i'm giving up that much privacy in my personal financial transactions.
You can sell BTC for cash anonymously with another person who has a wallet. So it's the same as gold. But unlike gold, you can trade anonymously virtually, whereas with gold you have to make physical contact with the other party.
If gold was more secure and anonymous, criminals would prefer it over BTC but that's not the case. This should be proof enough.